Ok I started this so I shouldn't complain.Prime said:
My plan is as previously posted.
My method is to fixate on a handful of bluechip stocks and watch them like a hawk. In the old days I'd probably have been called a tape reader cos I watch price constantly.
But I also research them to the nth degree. I know when reports are coming out and what I need to look for in the reports. When they go ex-div and how they usually react at that point. (Note the WBC selldown yesterday. It was high probability after the behaviour of ANZ/NAB's ex-div last week.)
Chartwise I use simple P&F charts to plot support/resis levels and that's the extent of my TA.
I use leverage and try very hard not to hold any biases. Therefore I don't care a toss which way the s/p is going as long as I'm on it.
In trading terms I ignore the rest of the market and in fact most commentary on 'my' stocks. I don't care a fig what anyone else thinks about BHP for e.g, (unless they all think the same, in which case I would want to be on the other side).
I use sound money management. Fortunately I'm a good loser. Being stopped out has never unduly worried me, it's an occupational hazard for traders.
Tha's basically it. Essentially I'm a farmer ploughing the same ground over and over.
ice
NB. I still get a lot wrong and always will. There is no magic formula, You just have to work at it. Much of trading is luck but as some golfer said, the harder you work the luckier you get. Best any of us can hope for.
