Newish Trader Advice

Discussion in 'Trading' started by Trader 3SiX, Apr 11, 2002.

  1. I just started trading about 6 months ago...and since i had no IDEA what the hell i was doing...i managed to lose well over half my account in a surprising amount of time :mad: ...anyways...i'm still not that good with charts and stuff...but want to get like you guys and be able to make money on my own...i actually found elite and joined one of your members chatrooms...chris terry....thankfully i've made a killing...but feel sort of bad about not having made it on my own...only following someone else's calls....i mean...i can see how he and Linda Raschke trade...but i want to sort of do something on my own...any advice??? i was thinking of staying in the chat room and following their calls to make money...and then trading on my own (hopefully adding to my profit...not taking away from it :D ) ...but i don't really have any strategy...and think it's sort of pointless to trade the same way they do when they can do it better...:D ...well...that's my dilemma....any advice would be GREATLY appreciated! (i figure i got my start successfully trading i'd come back here for help on my next "leg" of the trading journey)

    thanks a million!!...harry
  2. mbg


    i would keep following chris terry if he's making you money - try to understand how he picks his stocks and learn that way

    if it ain't broke - don't fix it
  3. Buy strong stocks when the s&p futures start rallying;short the weak stocks when the futures start heading south, and use a direct access broker.
  4. Forgive my cynicism but here's what I think many people will be doing now:

    S 1. Go to Elitetrader "Search".
    P 2. Type in Chris Terry and search his posts for name of website.
    A 3. Go to website and sign up.
    M 4. Terry goes to bank with his monthly c/c fees and takes wife/girlfriend/partner out for a nice meal.

    Did you also get your writing style from Chris Terry?
  5. sammybea


    I don't understand you.. Whenever Hitman talks about Worldco and provides a link, he gets deleted. He is your most valuable asset and he is not allowed to talk about Worldco. But here we have an obvious case of spam. But no action has taken place to delete this thread. Yes you are the dictator.. but what could you possibly be thinking?
  6. sammybea....i'm sorry i didn't know we weren't allowed to talk about chatrooms...i haven't been here in a while but i do remember going over several discussions where even the topic of discussion was chats...i'm not even talking about his chat thing....i'm just asking you guys for help...if you'd rather i post that i'm using some anonymous person's chat to make money because when i tried trading myself i sucked...i'll change the first post if you tell me how...but this is a real problem for me and i figured i could come here for advice since you are all profitable traders trading for yourselves....and i'm not spamming (if that means trying to advertise...if i'm misinterpreting the word please correct me...)....just looking for advice...sorry if it came off the wrong way....
  7. Honda


    I have to agree with macal425. Highly suspicious........... (nice try):D
  8. ok since everyone seems to think i'm spamming...i am...if that makes you please stop talking about it...that's not what i posted to hear (or accomplish but you can believe whatever you want to...makes no difference to me...) could you PLEASE post some helpful ADVICE that may not only help me but some other trader out there with the same or similar problem....
  9. Funny, you don't look Newish.

    :p Couldn't help myself.
  10. You have the right attitute - you want to do it for yourself. I don't think the gap between intent and reality is really that wide. Do tons of research on your own (read books) and develop your own ideas. Your ideas don't have to be original or great - you simply have to internalize them. If some site is making you money - wonderful - but don't just take their picks, find out why each pick was made, and try to reconcile the logic with your own opinions.

    There are only so many ways to invent a wheel. As long as yours is circular, what's the problem?

    Good luck!
    #10     Apr 12, 2002