Posted by hawkinslf on 13th of Jan 2015 at 12:01 pm
urubu7...as a long time member, welcome to a fascinating group
of sophisticated individual investors who share and learn from each
other. I rarely respond on this trading community, opting to
learn and monitor. That said, I thought it might be helpful
to share with you my experience as a member.
Years ago, we relied on registered investment advisers
discovering that, generally, they had more incentives in selling
their book, rather than keeping our best interests at the top of
their mind. In 2003, after loosing lots of money with
registered investors who had lots of excuses, I resolved to take
control of our future. With a MBA under my belt, I had to
learn that it wasn't what I knew, it is what I knew that wasn't
"so". If I make a mistake, it only takes one time for me to
learn what I need to learn. What I have done is not for the
weak of heart. It should be someone who loves learning trying
to make sense from the psychology & economic trends in the
markets, using technical analysis, which I can then can use to my
advantage. It takes lot of my time, my choice, as Matt and
Steve have shown us ways of using this site if you are still
working a day job.
Matt and Steve, and the trading community posters are on the
right track, teaching and sharing how to "fish" rather than selling
me the "fish". Over many years, as this site has evolved, my
ability to manage our financial future has significantly improved
with the site's evolution. What I have learned is to separate
funds into investing for the future and trading for the
present (I am a swing trader....tending to be patient (my friends
call me "Diana, the huntress", buy and hold until circumstances
dictate a change). Sometimes my caution causes me to loose
out on opportunities (an opportunity cost), which I constantly
fight with myself striving to keep the emotion under control.
I have learned to keep my portfolios diversified recognizing that I
am not perfect. If you are interested in taking control of
your financial future, then this group is for you. It will
not be easy. You will need to have a long talk with yourself
and decide what your trading objectives are. There is much to
learn but you will develop confidence that you can actively,
profitably manage your financial future, forever, and not rely on
others to tell you what to do.
Best wishes.....hope to hear your insight in the future.
what you said makes a lot of sense i like the analogy of
teaching you to fish. this site seems like a lot goes into keeping
folks up date and on top of the markets. and yes there are lot of
folks wanting to take your money. so i will listen learn and
watch.
Posted by hawkinslf on 13th of Jan 2015 at 02:14 pm
So glad to have you aboard.
Today was a great reminder for me on why I continue to invest in
this site. I bought 300 shares of GBX yesterday with a great
entry, instead of AUY which I have always bought (thank goodness as
AUY crashed in the early premarket.) AUY was a warning
regarding GBX as it started down after a brief high when the
markets opened. I focused my attention on it watching it
closely follow the 9 sma up and then the 9 sma down. With a
big red nasty candle developing in GDX daily today that Steve noted
in the trading community, I just sold 200 shares of GDX, keeping
100, with a hope that GDX will reverse, and at the right time, I
will go back in, buy 200 shares of GDX, lowering my cost
basis. Though this looks like a trade strategy, I really want
GDX as an investment strategy in our retirement acct, wanting to
rebuild a little in precious metals to diversify the rest of our
retirement. The original 300 shares was the beginning of
developing a larger position as I was going to layer in to this
position. I never would have figured this out without the
Matt and Steve's mentoring.
Thanks and well stated Linda...like most everything, It takes
some effort but we are willing to shares some insight and clues to
reduce the learning curve and provide guidance. I too never had a
mentor (I sure wish I did) but soon realized that I must take
control and learn to succeed in the investment arena.
Welcome
so i looked back being new here and i dont see HMY on the trade ideas
Posted by hawkinslf on 13th of Jan 2015 at 12:01 pm
urubu7...as a long time member, welcome to a fascinating group of sophisticated individual investors who share and learn from each other. I rarely respond on this trading community, opting to learn and monitor. That said, I thought it might be helpful to share with you my experience as a member.
Years ago, we relied on registered investment advisers discovering that, generally, they had more incentives in selling their book, rather than keeping our best interests at the top of their mind. In 2003, after loosing lots of money with registered investors who had lots of excuses, I resolved to take control of our future. With a MBA under my belt, I had to learn that it wasn't what I knew, it is what I knew that wasn't "so". If I make a mistake, it only takes one time for me to learn what I need to learn. What I have done is not for the weak of heart. It should be someone who loves learning trying to make sense from the psychology & economic trends in the markets, using technical analysis, which I can then can use to my advantage. It takes lot of my time, my choice, as Matt and Steve have shown us ways of using this site if you are still working a day job.
Matt and Steve, and the trading community posters are on the right track, teaching and sharing how to "fish" rather than selling me the "fish". Over many years, as this site has evolved, my ability to manage our financial future has significantly improved with the site's evolution. What I have learned is to separate funds into investing for the future and trading for the present (I am a swing trader....tending to be patient (my friends call me "Diana, the huntress", buy and hold until circumstances dictate a change). Sometimes my caution causes me to loose out on opportunities (an opportunity cost), which I constantly fight with myself striving to keep the emotion under control. I have learned to keep my portfolios diversified recognizing that I am not perfect. If you are interested in taking control of your financial future, then this group is for you. It will not be easy. You will need to have a long talk with yourself and decide what your trading objectives are. There is much to learn but you will develop confidence that you can actively, profitably manage your financial future, forever, and not rely on others to tell you what to do.
Best wishes.....hope to hear your insight in the future.
Linda
Thank you more the excellent reply!
Posted by urubu7 on 13th of Jan 2015 at 01:47 pm
what you said makes a lot of sense i like the analogy of teaching you to fish. this site seems like a lot goes into keeping folks up date and on top of the markets. and yes there are lot of folks wanting to take your money. so i will listen learn and watch.
thank you
My pleasure
Posted by hawkinslf on 13th of Jan 2015 at 02:14 pm
So glad to have you aboard.
Today was a great reminder for me on why I continue to invest in this site. I bought 300 shares of GBX yesterday with a great entry, instead of AUY which I have always bought (thank goodness as AUY crashed in the early premarket.) AUY was a warning regarding GBX as it started down after a brief high when the markets opened. I focused my attention on it watching it closely follow the 9 sma up and then the 9 sma down. With a big red nasty candle developing in GDX daily today that Steve noted in the trading community, I just sold 200 shares of GDX, keeping 100, with a hope that GDX will reverse, and at the right time, I will go back in, buy 200 shares of GDX, lowering my cost basis. Though this looks like a trade strategy, I really want GDX as an investment strategy in our retirement acct, wanting to rebuild a little in precious metals to diversify the rest of our retirement. The original 300 shares was the beginning of developing a larger position as I was going to layer in to this position. I never would have figured this out without the Matt and Steve's mentoring.
Best wishes
yw...urubu7
Posted by steve on 13th of Jan 2015 at 01:54 pm
yw...urubu7
Thanks and well stated Linda...like
Posted by steve on 13th of Jan 2015 at 12:05 pm
Thanks and well stated Linda...like most everything, It takes some effort but we are willing to shares some insight and clues to reduce the learning curve and provide guidance. I too never had a mentor (I sure wish I did) but soon realized that I must take control and learn to succeed in the investment arena.
Mentoring
Posted by hawkinslf on 13th of Jan 2015 at 12:31 pm
The mentoring you provide is critical but the many tools you guys have worked so hard to develop are the services that sets you and Matt apart.