Well Faster, I tried. Twice as you can see. Buy me a power backup for chistmas. That was a lot to type twice. The first one was actually longer. RS7
More simple stuff. With some special added features to fulfill the requests of MarcD. Some rules to live by for successful trading: I find it amazing that so many traders do not have both an earnings calendar and a calendar of economic events at their fingertips. For day traders that go home flat every night, this is not as crucial an issue as it is for those of us that hold positions over night. However, it is still very important to know when and what earnings and economic numbers are coming out. There are a lot of 10am fed. numbers, and not an insignificant number of earnings released during market hours. If you do not have access to these numbers, you have to figure out how to get them. Try web sites, barons, whatever. Don't sit next to anyone who farts a lot. Get away from your screen for at least a half hour during the day. I like 2 - 3 hour lunches myself. As I mentioned tonight, I consider the morning and the afternoon as two separate trading events. A break in between works well for delineation. And I like going to the gym at least a few times a week during this mid day break. A sound mind and body, etc. Don't drink during lunch. Hey, I am not a tea totaller by any means. But I know I can do a lot of things with a drink in me. But trading isn't one of them. Golf, driving, lots of stuff, but not trading. I am not exactly sure why this is. In truth, I can play chess fairly well with a few in me. Why this is different than trading I have no idea. But I just know for me it totally wrecks me. The good thing is it only took once to find out. Of course if you are Irish, none of this applies Listen to music rather than CNBC. If you trade in an office, and people are sharing ideas, calling out trades, listen to all the noise. Don't discount out of hand anyone's ideas. I have heard new traders call out trades that I never would have noticed. Most of the time they aren't good, but occasionally.... you have nothing to lose by looking at whatever it is you hear mentioned. Also, if you trade in an office in a large building with a lot of traders, find a bathroom no one else knows about....at least the traders....in case you need a sit-down. Go find where the maintenance guy goes. He will usually be a key clue in this department. And NEVER let anyone take your newspaper with them to the bathroom. If you trade at home, get out of the house for lunch. Even if it means just making a sandwich and eating it on the sidewalk. Just get out! If you trade in a room with women, keep the bodily sounds muted. If you are a woman trading in a room with a lot of men, realize we are disgusting, and accept it. We will respect you for that and try to be more civilized. Don't talk on the phone for more than a minute or two if people are trading around you. At least not during the first and last two hours of the day. Don't trade in a room with negative people. This is sometimes easier said then done, but if you find yourself with a moaner, have a talk with them. They will respect you for it. If not, well then one of you will need to make a change. The only thing worse than a person who bitches and moans is someone who gloats. Often they are the same person. Don't gloat!!!! Everyone has winners and everyone has losers. And no one wants to hear about what a great day/trade/month/minute, whatever if they are not having one at the time. Just like they don't want to hear you complain while they are riding high. It all evens out, so basically don't get over enthusiastic or overly down. EVER...Or at least wait till you are alone. Then you can scream, cry, whatever floats your boat. Do it in private. Get in your car, and close the windows. Just don't do it in your garage with the garage door shut and the car running.....unless ABSOLUTELY NECESSARY! Please let me know in a PM if you will do this...include your social security number and date of birth please, and give me a two year notice for insurance purposes. (talk about stupid rules!). Don't trade penny stocks. Don't trade BRK (A or B). Do OWN BRK (A or B). Always keep a deck of cards handy. Keep a picture of your kids if you have any by your screens so you will know why you are doing this when it seems like not such a great idea at the time. And most important of all: Use your spell checking thing when posting to Elite Trader, or risk getting called out by MrSubliminal. More later; RS7
RS7, Thanks again for another good post. Today I did what you suggested. I picked trades in Intel Amat and Klac thinking that the Dell earnings would be good for Intel, and if good for Intel, then good for klac and amat too. Also, Intel was downgraded but held up ok. I bought at the open and they went straight up. I should have held longer, but got shaken out. A little nervous because MSFT looked kinda weak. Couldnt get positive. Not til I got out of my positions. Had a good morning session. Is this the kind of trades you were describing? MarcD
rs7 , Perhaps if that's what makes you laugh you'd better leave out the humor..... just give the domestic / personal detail like before....now that was funny I love the simplistic complicated simplicity of your thread. Great reading
Stu, your wish is my command! I appreciate the humor in Mr. Publia's struggles with his own thoughts. I guess I think it is funny because it has been a while since I was 22. You should let up on him. He has a good heart and means well. And what works for him.....whatever. There is no right or wrong. And greetings to the Darkhorse! I have missed you here. But my typing skills have improved as I have tried to fill your enormous shoes. And MarcD, nice trading...any successful trade is a good trade. But in the vein of "keeping it simple", I would have waited for the semis and equipment makers to go positive. If you bought them on the open, you are a better man than I. Besides, I said I would not get involved for the first 15 or 20 minutes. But there is no arguing with success. RS7
I would point out that the DOW is 30 of the largest stocks - ("a rising tide lifts all boats unless there is something really wrong with a few of them") Respectfully, Paul
ok rs7 will do, but sheeeesh where's the fun in that Anyways how do you know I'm not only 22 and need handling sweetly too ?? darkhours ...WHAT !!! is it fall already.... he said he was on some kinda sabbatical from Elite. Now don't tell me he wasn't telling THE TRUTH ......hell ok I'm done........ guess I'll be much more content hanging around in your space rs.......... but can I sleep with you and the missus, I get scared at night. I'll be good, honest I will Keep up the good work
No question that the Dow stocks are the biggies. But my problem with it as an index is that, like you said, a "problem with a few of them" can scew the index big time. So if as you say, a rising tide, etc.... well, if the "smokestack" or bank stocks are up, and the techs are down (for example), you can't get much of a read by the raw number change in the Dow to know what is really going on. RS7
Stu, Here's the deal. My wife is away for a WEEK! So either I find myself some real fun this weekend, or I will be totally bored and get myself into a state of delirium. If that is the case, perhaps I will come up with something to amuse you and the rest. I will be a little busy trying to get the baseball strike settled, but if they can't listen to my voice of reason toot sweet, I will abandon my efforts with them, and contribute some fine nonsense here. Speaking of fine nonsense, I highly recommend reading my response to MrSubliminals mother (look in Chit Chat). She seems a little dim for the mother of such a sharp guy, but sometimes genius skips a generation. And BTW, I am lucky if my wife lets ME sleep with her. She has the BIG LIE going on.....seems she expects me to believe I snore. RS7