I gotta say this now

[Rich]

Thierry, thanks for this site. Being new to personal investing instead of just turning money over to those who have just about lost everything I gave them, I have an opportunity to make or break the bank by my own terms and not someone elses.

And a thanks too so many, Bahroor who worked with me late into the evening last night getting me straightened around with Stream Quotes, withut his help last night I was in a serious gains loss pattern. Also, thanks for the posts of Tuxguy, Frank, zzz*#$%! (or something like that :-) and a few others. I just hope that someday I will be able to understand some of Franks and others termologies! LOL AND someday I will know what the charts are telling me as to when to sell. Buying is easy, you listen in on Cramer and everyone here, its the selling thats a complete mystery for me. :-)

Thanks too all. I know that newbies can become a real pain at times, but there are so many here that have been very helpful and patient.

Sincerely

Rich

[Luc1Grunt]

Happy Trading.:lol:

[discrat]

Theirry, thanks for this site. Being new to personal investing instead of just turning money over to those who have just about lost everything I gave them, I have an opportunity to make or break the bank by my own terms and not someone elses.

And a thanks too so many, Bahroor who worked with me late into the evening last night getting me straightened around with Stream Quotes, withut his help last night I was in a serious gains loss pattern. Also, thanks for the posts of Tuxguy, Frank, zzz*#$%! (or something like that :-) and a few others. I just hope that someday I will be able to understand some of Franks and others termologies! LOL AND someday I will know what the charts are telling me as to when to sell. Buying is easy, you listen in on Cramer and everyone here, its the selling thats a complete mystery for me. :-)

Thanks too all. I know that newbies can become a real pain at times, but there are so many here that have been very helpful and patient.

Sincerely

Rich




Ha Rick, also happy trading from myself ! I have been trading for about 7 years now. Fulltime for the last couple of years, mostly swing trading.
It is a journey that will take you over many hills and valleys. You will more than likely lose it all a couple of times before you really start to witness long term profitability. This happens to almost every successful trader. Its just part of the so called tuition you pay to learn and become experienced at this game.

You are very very right about selling. That is the big issue that snags most traders and causes them to blow up their accounts. Remember, managing your risk and money is the key to substaining long term success in this industry. Having predefined entry and exit points in each and every trade is an absolute must. And having the discipline to stick to this no matter what.

You will NOT be right all the time.
I,myself, am about 50% right on all my trades. Its just when I am wrong I am not wrong very long. I cut it quick and move on. And this small loss does not even phase me. A matter of fact I view a small loss as a win. Because I know I am one step closer into bagging that big winner.

And thats what it comes down to. Cutting your losses real quick (not letting yourself fall in luv with the stock) and letting those BIG winners run and run and run with trailing stops.
You do your due diligence and have an edge then all it comes down to is a numbers and probability game. Which will be won by those with a very sound risk and money management strategy.

Good luck :)
the rat

[aiki14]

Ha Rick, also happy trading from myself ! I have been trading for about 7 years now. Fulltime for the last couple of years, mostly swing trading.
It is a journey that will take you over many hills and valleys. You will more than likely lose it all a couple of times before you really start to witness long term profitability. This happens to almost every successful trader. Its just part of the so called tuition you pay to learn and become experienced at this game.

You are very very right about selling. That is the big issue that snags most traders and causes them to blow up their accounts. Remember, managing your risk and money is the key to substaining long term success in this industry. Having predefined entry and exit points in each and every trade is an absolute must. And having the discipline to stick to this no matter what.

You will NOT be right all the time.
I,myself, am about 50% right on all my trades. Its just when I am wrong I am not wrong very long. I cut it quick and move on. And this small loss does not even phase me. A matter of fact I view a small loss as a win. Because I know I am one step closer into bagging that big winner.

And thats what it comes down to. Cutting your losses real quick (not letting yourself fall in luv with the stock) and letting those BIG winners run and run and run with trailing stops.
You do your due diligence and have an edge then all it comes down to is a numbers and probability game. Which will be won by those with a very sound risk and money management strategy.

Good luck :)
the rat

Very well stated. Stops are the prenuptual agreement between you and the position. If she goes south on you, you don't lose the house.:wink:

[Luc1Grunt]

One thing I have been dilligent about is closing the quotes once I exit a trade (I'm talking short term trades). That saves you the instant "second-guessing" psycholigical regret. Look at the pattern the next day or after the close to verify or discover why/if you could have done better. I learned a long time ago from a trusted source that "amateurs worry about the entry, pros concentrate on the exit". It is true in so many ways. It will come.

[Rich]

These fine, kind and helpful posts are EXACTLY what I'm talking about! There ARE kind and helpful people left in this world after all.

All points you have made are issues that are directly pointed towards me, they are factual and accurate all the way.

I never considered the idea of knowing your entry and exit possitions. This is done many times by Frank and others but I havent even begun to master that. An Luc, have you seen me behind the screen mulling over the sale and saying "AH MAN! WHY DIDN"T I HOLD ON !!!" You have a trojan in my system where you saw this on my web cam, right?

Bought a book the other day about Trends and how to read the charts, $10 at Boarders. EASY reading and packed full of information. I will post the name of it when I get it out of the work truck later today.

ANyone know of good video's, CD's books that aren't hype but good foundation type information? Some courses and videos are out of my cash equation, but there has to be something out there that isn't written for the Harvard graduate :-)

Once again, you people here are great, and I feel welcomed. Thank you so very much.

Rich

[clavocat]

rich i subscribed to Investorflix.com (http://www.myaffiliateprogram.com/u/investor/e.asp?e=14&id=1219&p=discover)..they have tons of info DVDs for 20 bux a month, i get em watch em and send em back and ive watched quite a few...the only complaint is most of the DVDs are from like early 90s, but im currently watching options boot camp and its VERY helpful, plus if you go on toniturners bookstore you can grab DVDs for 10 bux and are also great http://www.invest-store.com/stock-links/tl010107.html also some cheap books, also buy.com is cheap too

[clavocat]

Ha Rick, also happy trading from myself ! I have been trading for about 7 years now. Fulltime for the last couple of years, mostly swing trading.
It is a journey that will take you over many hills and valleys. You will more than likely lose it all a couple of times before you really start to witness long term profitability. This happens to almost every successful trader. Its just part of the so called tuition you pay to learn and become experienced at this game.

You are very very right about selling. That is the big issue that snags most traders and causes them to blow up their accounts. Remember, managing your risk and money is the key to substaining long term success in this industry. Having predefined entry and exit points in each and every trade is an absolute must. And having the discipline to stick to this no matter what.

You will NOT be right all the time.
I,myself, am about 50% right on all my trades. Its just when I am wrong I am not wrong very long. I cut it quick and move on. And this small loss does not even phase me. A matter of fact I view a small loss as a win. Because I know I am one step closer into bagging that big winner.

And thats what it comes down to. Cutting your losses real quick (not letting yourself fall in luv with the stock) and letting those BIG winners run and run and run with trailing stops.
You do your due diligence and have an edge then all it comes down to is a numbers and probability game. Which will be won by those with a very sound risk and money management strategy.

Good luck :)
the rat

so you trade for a living?? curious what made you successful enough to quit your day job, thats ideally what id love to do after college, which would give me 2-3 more years of experience.