From the views expressed on this blog I don't think you're the
only one who's losing money these past months... I find the
analysis to be topnotch and both Steve and Matt do a great job to
help us, but technical analysis isn't always the best way to trade
I guess. I think there's a lot of very experienced day-traders here
who can always find good setups, but it's difficult for the swing
trader like myself just looking for longer term advice.
I'm in my 20s and I just started trading last year when I saw
the markets crash. All I knew about investing was to buy low / sell
high, buy good profitable companies and to diversify. I started
studying a lot about investing to build a portfolio in early 2009,
and that's when I started listening to advice and got into
technical analysis. Of course after that I was hesitant to buy too
much. I did end up buying some stocks in Feb-March which made some
nice profits until June. Then I was scared of all the Primary Wave
3 talk, so I sold everything and started going short here and
there. Since then I lost all my profits and a bit more.
After a year of trading I think I learned just how the basic
rules are important. Maybe technical analysis should be left to the
experts... Luckily for me I'm still young so I have lots of time to
learn and make profits, I'm just not sure it will be with TA.
BTW this isn't a jab on the quality of this site. This is
clearly the best TA site I've found and I still think it's worth
the subscription.
Bought at the March 9, 2009 low. Started shorting in June. Then
got scared by bloggers saying the market would retest and break the
March 9th low, and have been watching my profits evaporate since.
Looks like I should have stuck with the buy-and-hold instead of
becoming a trader.
TA not working for me. Still getting too many mixed messages
that are confusing, thus I lose confidence in my personal
convictions.
The market can remain overbought or oversold longer than I can
remain solvent. Still learning how to simplify and find the right
approach.
Would you have bought on the fundamentals in March?
Fundamentals are not the drivers of stock prices - it's all about
supply and demand and that's what the chart patterns show in a
pictorial message. The buy and hold approach has amounted to
zero returns over the last 10 years. This market is very dynamic
and many who consider themselves swing traders are not as soon as
they see a small correction.
Now with that said, I personally look at the fundamentals to
gauge how much I'm willing to commit to a trade or investment.
Smaller companies (private companies) trade much different
than mature companies and this is where it's more important to due
some fundamental research. The earnings estimates were sky
high for 2008 but did that stop the market from plunging 60%?
No - and we have many executives who are members here who
learned this lesson.
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Nice Odds ;)
Anybody care to make 95%+ wins?
Posted by mvachon on 5th of Mar 2010 at 04:12 pm
From the views expressed on this blog I don't think you're the only one who's losing money these past months... I find the analysis to be topnotch and both Steve and Matt do a great job to help us, but technical analysis isn't always the best way to trade I guess. I think there's a lot of very experienced day-traders here who can always find good setups, but it's difficult for the swing trader like myself just looking for longer term advice.
I'm in my 20s and I just started trading last year when I saw the markets crash. All I knew about investing was to buy low / sell high, buy good profitable companies and to diversify. I started studying a lot about investing to build a portfolio in early 2009, and that's when I started listening to advice and got into technical analysis. Of course after that I was hesitant to buy too much. I did end up buying some stocks in Feb-March which made some nice profits until June. Then I was scared of all the Primary Wave 3 talk, so I sold everything and started going short here and there. Since then I lost all my profits and a bit more.
After a year of trading I think I learned just how the basic rules are important. Maybe technical analysis should be left to the experts... Luckily for me I'm still young so I have lots of time to learn and make profits, I'm just not sure it will be with TA.
BTW this isn't a jab on the quality of this site. This is clearly the best TA site I've found and I still think it's worth the subscription.
Same story
Posted by epmaruggi on 5th of Mar 2010 at 08:23 pm
Bought at the March 9, 2009 low. Started shorting in June. Then got scared by bloggers saying the market would retest and break the March 9th low, and have been watching my profits evaporate since. Looks like I should have stuck with the buy-and-hold instead of becoming a trader.
TA not working for me. Still getting too many mixed messages that are confusing, thus I lose confidence in my personal convictions.
The market can remain overbought or oversold longer than I can remain solvent. Still learning how to simplify and find the right approach.
Would you have bought on
Posted by steve on 5th of Mar 2010 at 04:57 pm
Would you have bought on the fundamentals in March? Fundamentals are not the drivers of stock prices - it's all about supply and demand and that's what the chart patterns show in a pictorial message. The buy and hold approach has amounted to zero returns over the last 10 years. This market is very dynamic and many who consider themselves swing traders are not as soon as they see a small correction.
Now with that said, I personally look at the fundamentals to gauge how much I'm willing to commit to a trade or investment. Smaller companies (private companies) trade much different than mature companies and this is where it's more important to due some fundamental research. The earnings estimates were sky high for 2008 but did that stop the market from plunging 60%? No - and we have many executives who are members here who learned this lesson.