I am a new to trading.....been trying for 2 years now....i read many times how people can pick this up and start making money after only a few months...but im yet to make any money. I had 14 loosing months in a row and was begining to think i was not meant for this. You see, very early on, i decided to take seminars and workshops and follow a perticular trading service....it seemed to make lots of sense, but a few months after i never could make any money....at best would break even. The problem was...i believed this "servise" was the only thing out there and that it was the only "true" insight into the market...believing that only theirmetheds were the true methods and no one else. So i tryed and tryed and never changed the technique that was ingrained in me....for 14 months without a profit. (some trades were winners, but at the end of the month i would be down). About 2 months ago i stumpled upon this site, and read comments / reviews about the company which i learned from...........it was like a bucket of cold water thrown at me. It opened my eyes to many things. I now have changed my methods and my account is slightly above where i started 2 years ago. Thanks to this site and everyone here!!
I have i alot to learn ofcourse, and will look for a service / school that can change with the markets.
way to go duck! as my forutne cooke read today ... It is better to get something done late than not at all. sounds like you are making positive strides. keep it up! take care - omni BTW: welcome to ET
The method is very simple and straightforward with no frills.....I swing trade, hold a position from a few days to weeks. I do a top to bottom approach...first i see if market is in a rally mode or correction, that determines if majority of my trades will be long or short. I use Marketedge.com to help me time these cycles. I then determine where we are in the economic cycle, and only choose sectors / industries that are in favor. I then pick the top stocks for that industry (i use IBD) and buy them on pullbacks or breakouts. Ofcourse i also look at support / resistance, moving averages, and look at how candle sticks have formed before i hit the buy button. Im not market savvy at all so im lost when it comes to complicated techniques or programs....so i just keep it simple. well thats my method for now anyways
elitetrader is a great site you willÂ@âÅââ¦âÂâââŽÂ@âÂÂ@âÅâÂââÂ@ââ âââÂâÂÂ@it
perhaps you should reveal who that "service" provider/company was so other newbies can avoid it as well? welcome to ET. best of luck in your trading.
i am a little hesitant to name the site, for not all aspects of it are bad and don't want people to think am thrashing everything about them. All am saying is that their methods for taking a play simply don't work very well, maybe they did at one time...years ago, but in present time it never made any $$ for me. However i must say that their psychological approach to the market seems sound and so is their emphasizes on preserving capital. (I had 14 loosing months but my account was never down more than 6%.) problem is...never really made $$ either....till i broke off from them i started using my own techniques. HINT: The company starts with a P