cjbhogal
6 posts
msg #157077
- Ignore cjbhogal |
6/25/2021 5:11:02 PM
Hi,
i know there are kind souls here. Requesting help to get some workable practical strategy...struggling to make money..spinning wheels. Any help/guidance is appreciated. thank you.
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redversa721
157 posts
msg #157078
- Ignore redversa721 |
6/25/2021 7:33:19 PM
Here is a easy one. make sure that you limit buy at lower or upper of the buy price depending on market mood. Also exit when you make 4-5%. Do not lave more than 10-15 days
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snappyfrog
721 posts
msg #157079
- Ignore snappyfrog |
6/26/2021 8:38:28 AM
There is a lot to be said for keeping it simple.
Take a look at the True Golden Cross of the EMA(13) and EMA(48). Simple but effective place to start.
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xarlor
581 posts
msg #157081
- Ignore xarlor |
6/26/2021 11:37:08 AM
Here is a series I posted some time ago. These work well in bull markets like we are in now.
Swing Trading with Larry Connors
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push5280
201 posts
msg #157082
- Ignore push5280
modified |
6/26/2021 11:58:20 AM
cjbhogal,
"struggling to make money..spinning wheels" we've all been there at somepoint. Here are some things I've learned over 35+ years of investing / trading. I hope some of these will help !
1.) Analyze your trades for the last 12 months. You can't possibly know where your going if you don't know where you've been. What percent are winning / losing trades? Avg Gain? Avg loss? You can make money at 50% or less winning trades if you take gains when you find them and use stop losses to limit your losses. For example, if your average loss is 7% use a 5% stop loss and you've already improved your returns.
2.) Use mental stop losses. Market makers seem to like hunting stop losses so I only use mental stops
3.) Learn from winners. I personally have learned a lot from Mark Minervini. I've watched all of his videos on YouTube and have read his books. He gives great common sense advice and is a Champion trader.
Here is a link to a great video with Minervini. Take notes on his 10 Rules and refer back to them everyday.
https://www.youtube.com/watch?v=SwxR6wcB12o
4.) Find a style that works for you and become a master of it.
5.) 1000% what Snappy said above! Simple trading systems work just as well as super complex methods. In fact I would argue that in many cases they perform better. Also, the 13/48 cross has been shown to be the true Golden Cross. https://finance.yahoo.com/news/study-determines-best-moving-average-195042216.html
6.) Think differently about indicators. Sometimes the simplest things make a big difference in how you look at things. Want a simple way to find the longer term trend?
7.) There are only 4 things that you need for a stock to go up that is trend, momentum, volatility and volume. Often you don't need all four sometimes one , two or three. Be sure that when you build a scan your charts reflect those four items. 3 momentum indicators are of no use. I usually use a trend and momentum indicator. Keep it simple too much clutter can cause analysis paralysis.
8.) Set trading rules for yourself and follow them. Rules are of no use unless you follow them
9.) If you want trading income like a job, treat it like a job.
10.) Believe in yourself.
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miketranz
961 posts
msg #157083
- Ignore miketranz |
6/26/2021 12:29:01 PM
Let's start with this.What's your timeframe? Miketranz...
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Cheese
1,374 posts
msg #157085
- Ignore Cheese |
6/26/2021 1:15:37 PM
Excellent thread. I've learned and re-learned a lot.
Thank you all.
===========================================================================
Notes to self:
https://www.stockfetcher.com/forums/General-Discussion/Trading-Strategy/157077
https://www.stockfetcher.com/forums/Filter-Exchange/Upcoming-golden-cross/155973
https://www.stockfetcher.com/forums/Stock-Picks/CLVS/149664/10
https://finance.yahoo.com/news/study-determines-best-moving-average-195042216.html
https://www.stockfetcher.com/forums/Filter-Exchange/Swing-Trading-with-Larry-Connors/150631
===========================================================================
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snappyfrog
721 posts
msg #157086
- Ignore snappyfrog |
6/26/2021 2:20:36 PM
Push5280,
I hope you don't mind, but I shared your post above with my private Swing Trading for Beginners group on Facebook.
Well put rules for trading.
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push5280
201 posts
msg #157087
- Ignore push5280 |
6/26/2021 3:08:26 PM
Snappy,
By all means if they can help someone share away! Some of the rules I learned from others so I can't take credit for the lot of them, just sharing wise advice that I've learned from others
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Nobody
404 posts
msg #157088
- Ignore Nobody |
6/26/2021 4:07:30 PM
Lots of kind people here - Thank you
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