tommyw-5088

While im going to say , i have ALOT to learn yet.

Time issues ,work issues, are a problem for us all.

The point is , all good traders use price action , tight stops , and trend trading ..


At this point i have read , turtle trading , lawrence mcmillens books ,parness "rule the markets ",several of wade cooks books ,All togther 5000 pages , most of them 2 times .

It seems a good trader could trade somthing just on price action ,(ON a short term basis )

On a long term investment , fundmentals are important -imo ,.

But short term ,its price action ,i laugh at people that have 50 indicators to gage the market


Everyone agree ??


Tommy

__________________
life is too short to be ruled by anger , fear ,or regret ....

trading is my passion , but i fix trucks for a living ....
also collect International Harvester farm tractors ,,f-20,350,504LP, 650LP, 706, 886 ,5088

Shootanappleoffmyhead

My sentiments exactly, I mean there are two main reasons that I think indicators blew up in popularity from the late 90's on to the last 1/4 of the 00's. The first is that professional traders have always been adding things to their data and charts to help them to see certain things that they were looking for. With the explosion of information allowed by the internet these indicators began to be syndicated and used by others. Then you have the second half of the phenomenon. The mysticism of indicators created by those who were trying to sell these indicators to people. Since trading isn't an objective profession, like mechanics, meaning there is no absolute way to be profitable like there is an absolute way that an engine functions, people have always been in the market for something they could purchase to make their trading better than it is, so all the salesmen had to do was say, "hey, this indicator works well in trading." And since there is no single successful way to trade no one could come forward and say, "actually that is NOT the way to trade profitably." ,with authority. Until I came along that is...

Shoot

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Memoirs of a Day Trader by Shoot ~~~~~~> The Pro Course

tommyw-5088

Im glad you agree , i know im on the right track .

Im not trading now , my retirement is in a low risk 2% fund ......

Work issues come first , hopefully in a month or 2 i can get on track .

I still find time to study at work at lunch time

Im still damn glad to have a good job now , alot of trucking co"s have gone bankrupt .

more later


tommy

__________________
life is too short to be ruled by anger , fear ,or regret ....

trading is my passion , but i fix trucks for a living ....
also collect International Harvester farm tractors ,,f-20,350,504LP, 650LP, 706, 886 ,5088

The Freedom Trader

Tommy,

I Know what you mean, I also feel damn lucky to have a good paying job. I work for the largest privately own electrical company in the country and they are laying off massive amounts of people. With no large jobs in site. There thought process is not to do a job unless there is 15% profit in the bid. While that is a smart business model, it is brutal on the employees when a lot of other shops are basically buying jobs to keep there employees working. I don't see anything that is going to boost this job market. With building permits at such low levels the outlook for the next three years may be pretty slim. Just got to keep busting my ass so they lay off the other guy.

Anyways welcome
Mark

tommyw-5088

As long as we have liberals spending like idiots , im afraid it wont get better .


The bush tax cuts on cap. gains will expire too .

We cant be taxed into wealth , despite what libs think .

hang in there


tommy

__________________
life is too short to be ruled by anger , fear ,or regret ....

trading is my passion , but i fix trucks for a living ....
also collect International Harvester farm tractors ,,f-20,350,504LP, 650LP, 706, 886 ,5088

mattman

Yeah, charts loaded down with indicators look like a whacky christmas tree. I have seen a lot of videos of people using several indicators and they explain what "they see" in the chart, I generally don't see the same thing. Indicators are fine if you have a good understanding what their used for and when and how to use them; Unfortunately, for most traders this isn't the case. Supply and Demand are the only things that really moves price, and in the long run at some point or another fundamentals will always kick in, so for long term traders and investors this is important.