The failing of traders who aren't disciplined is cherry-picking.
The problem with news is that you can cherry-pick that too.
The result is often reacting too late or improperly.
I think that the only way to make money in the market it to
learn a few things well and stick to them. Even having too
many charts or indicators can lead to trouble (cherry-picking
again).
Most traders (and I don't mean the good ones, such as Matt,
Kobie, etc.) would be far better off today if they had invested in
Matt's long-term SPY system (the free one) and done nothing else.
If they are now also using the subscription SPY system and
the GDX system, they would be far, far ahead of the game.
Again, I speak for the majority of subscribers who need
discipline. I've learned the hard way to stop reacting to
news or a thousand charts and indicators and stick to a few tried
and true things.
dont think one can ignore a serious news comment like last
night,although there was no divergences or sell signals, I tried to
short but the market gapped and I was not goiing to chase it. It
probably depends on your time frame and if you are prepared to sit
through it?
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The failing of traders who
I mean seriously....could this mkt be a bigger joke?.....mad cow is back and uncle ben is riding her for all she's worth....
Posted by algyros on 25th of Jul 2011 at 11:29 am
The failing of traders who aren't disciplined is cherry-picking. The problem with news is that you can cherry-pick that too. The result is often reacting too late or improperly.
I think that the only way to make money in the market it to learn a few things well and stick to them. Even having too many charts or indicators can lead to trouble (cherry-picking again).
Most traders (and I don't mean the good ones, such as Matt, Kobie, etc.) would be far better off today if they had invested in Matt's long-term SPY system (the free one) and done nothing else. If they are now also using the subscription SPY system and the GDX system, they would be far, far ahead of the game.
Again, I speak for the majority of subscribers who need discipline. I've learned the hard way to stop reacting to news or a thousand charts and indicators and stick to a few tried and true things.
algyros, thanx for your valuable comment. I just ....
Posted by kobie on 25th of Jul 2011 at 11:36 am
dont think one can ignore a serious news comment like last night,although there was no divergences or sell signals, I tried to short but the market gapped and I was not goiing to chase it. It probably depends on your time frame and if you are prepared to sit through it?