Am I being logical?

wayneL said:

This is not aimed at anyone in particular but:

There is one thing I have observed about traders.

Those who have had their @rse handed to them on a platter, tend to become anti-trading zealots, random-walkers, buffetologists or some such "enlightened being".

The fact that others can trade successfully using patterns/indicators, stop losses, trend trading/target trading etc becomes disturbing to their psyche. They simply must point out to all and sundry the folly and impossibility of trading short term successfully. Any evidence to the contrary is cleverly evaded or arrogantly ignored.

Trying to convince these people otherwise is an exersize in futility. It is like trying to teach a pig to sing; it will frustrate you, and it annoys the pig.

What these people must learn though, is to leave tech taders alone to do there thing. By and large we leave fundie traders/investors alone to do theirs, do we not? (with a few exceptions, but these are usually enthusiastic newbies, they get over it). It is fine to point out why one prefers one form of trading over another... but c'mon, there are just too many successful traders on both sides of the fence to go on bagging each other, and maintain any sort of credibility. It's peurile!

Stink,

Ask away, research as much as you like, do it thoroughly, don't delude yourself, then go and make a bundle

Cheers

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The way I see it is there will always be communists and democratic people, just like tecchies and fundies.

Snake Pliskin said:

Wayne,
I've got one question for you: Do you backtest?

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Yes,

But, I trade patterns which are are hard to test mechanically. I can't put TOO much stock into the results.

But I have 5 years of real trading results, which I think is more valuable.

Cheers

wayneL said:

Yes,

But, I trade patterns which are are hard to test mechanically. I can't put TOO much stock into the results.

But I have 5 years of real trading results, which I think is more valuable.

Cheers

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Agree there Wayne, thanks.

Snake Pliskin said:

Agree there Wayne, thanks.

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Hey Snake nice to see you back posting .

Snake, You a pattern trader .

I thought you were a Evolution type trader using timing & crowd movement to outwit the mob ?

Bob.

Bobby said:

Hey Snake nice to see you back posting .

Snake, You a pattern trader .

I thought you were a Evolution type trader using timing & crowd movement to outwit the mob ?

Bob.

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Hey Bobby,

Patterns, swings anything to profit off.

Evolution type? Outwitting the mob is difficult because you have to be prepared to be wrong. But if your timing is good......Crowds make most a lot of money, lets push it up until...........

Opportunity is presented in front of you everyday :alien2:

The only advice I can offer so far is too read as much about the company as you can. Understand the possibilities for the future, the expected returns for each possibility and the probability of each possibility. Understand the key external factors that affect each company such as a commidity price, the interest rate, the exchange rate, etc. You can even take it as far as looking at the companies directors and learning about their past and, if they were the director of another company, looking at how that company did. Another good thing to do is too look at another company in the same sector with similar operations, but at a more advanced stage, and looking at their history. Look at charts and see what affects information releases had on the price. Learn to identify when a price is too high and get out before the correction, and then get back in when the price goes too low. I have seen many charts where after an announcement the price oscillates around the new price, with the oscillations decreasing with time. Identify the companies on a trend, and even by looking at a 20day moving average you can identify the peak/trough of the trend.

These are just some of the things that I have learned over the past few weeks that I have been trading. Currently I have made no profits, and a $200 loss (although this will hopefully be eliminated in the next few days as I still have the stock). If anyone has any tips like these, or disagrees with any that I have given, please tell me I'm still learning.