Quote:
1.
- What order to you use each of your trading tools? Do you for example look at the indicators first, then the news, then the trends, or use some other order?
- After you figure out which order you use each of your tools is why you use that order and what are you looking for each step to tell you about the market?
When thinking about the answer to this question keep in mind that each step or trading tool that you use should be used because it is telling you something about the market and each step should build on the last step towards painting a full picture for you of what is happening in a particular instrument.
|
I really never considered an order of investigation. Sometimes I would hear Cramer or search for a stock that appeared to have promise and then check it out in random order.
Quote:
|
2. You have decided that you are going to stick to swing trading so here you must simply have the disciplin to remember why you swing trade and not deviate from your methods.
|
Yes, day trading at this time is not an option. I could go mid or long term but not day trade.
3. This one feeds back into the questions I have asked for number 1.
Quote:
|
4. It seems like here you have identified that taking ideas from Kramer and fast money does not work out so well because they aren't there to help you manage the trade once you are in it and to tell you when to close it. …With this in mind what I would suggest here is turning off those shows until you have a sound framework in place that you are confident in.
|
That doesn’t seem to be a problem lately <G> I’ve been working late every night for a whole month <G>
Quote:
|
5. In my opinion, in order for a trader to be successfull they must have a full understanding of what the indicators that they are using do and why they feel that they are going to work in their strategy. With this in mind I think that you agree that there is more that you need to learn about each of the indciators that you are using. I would recommend starting with the basics of each indicator and learning about what the purpose the person who developed the indicator developed it to be used for or what the main use of the thing is in general. For more information on indicators I recomend going over the lessons for the indicators that you use in module 3 of my free basics of trading course as well as checking out StockCharts.com] and [http://www.investopedia.com]Investopedia.com for more information on each.
|
Yes, and lately I have been doing that. But when I first started out and for a very long time the information was overwhelming, like taking a primate and putting him in a third year biology class! Now things are starting to make some sense.