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If they all followed a pat program they would all be buying and selling at the same time so it could not work. I have stood in the pit and watched the same person offer to buy and when there was no seller he would then offer to sell usually at the same price. A friend of mine could arbitrage by standing in the middle of the gold pit and hit buys and sells that were off by one or two ticks because they could not hear each other due to the noise of other traders who were shouting their offers. You can look at the basic trading style of one of the 'greats', but you must adapt it to your method. Article: How many invoice have you read close to successful traders? How they did this or that and made a fortune and are still doing it. You say to yourself, “I’m going to follow his method and get rich”. So you subscribe to his newsletter (they all have one, $250) and buy his course on CD Rom ($495)and next time he is anywhere near you end his seminar with a $500 discount for only $2495. You do understand you must do exactly as he does and you try your best to follow the directions, but for some reason you still are not making money. At least you are not losing as much as you did in advance (I hope). Go look in the mirror. You are not Richard Russell, Richard Wyckoff, Bill O’Neil or any one of the great gurus of the market place. Each one of them has devoted every minute of his life to understanding the market. Each one is very successful and each one has a completely different way of about to be trading. Can you copy any one of them? It is very doubtful. These great teachers can help you, but you have to develop your own method and style of investment. Whether it is long term or short term it must be something with which you resonate. When I was a floor trader there were a thousand guys trading and I know there were a thousand different guide lines. No one had the same buy or sell signal. If they all followed a pat program they would all be purchase and selling at the same time so it could not work. I have stood in the pit and watched the same person offer to buy and when there was no seller he would then offer to sell usually at the same price. Yes, he was scalping for one or 2 ticks, but he knew what he was doing even if it looked strange. A friend of mine could liquidation by standing in the middle of the gold pit and hit buys and sells that were off by one or two ticks seeing they could not hear each other due to the noise of other traders who were shouting their offers. You can look at the central trading style of one of the “greats”, but you must gentle it to your method. I have not seen anyone able to successfully copy a trading program exactly. You will improvise and find a slightly new presentation that becomes “yours”. It then becomes part of your being. It works for you and probably won’t work for anyone else. If the programs the hype masters are selling work so well why aren’t there more rich traders? And if the programs are so darn good why are they telling you? To be a successful trader you can’t copy cat an existing program, but you can take a underlying trading vehicle and modify it your own plan. Turn that cat into your own tiger. ForexEnterprise.com: Earn $1,000 Per Day. - The Multiple Streams of Income System - Start Making Money In Just 15 Minutes. Updated & Converting like Crazy! Go Up Strong! - Increase Your Vertical and Teach Yourself to Dunk in a Matter of Days using this Revolutionary New System! Article Index: | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 |
More Articles:1. Timeshare as an Investment By Don Philpott Summary: Don't get drawn in by some slick sales pitch into buying an interest in a property if you are not likely to stay there and never ever buy a property purely as an investment.If you buy a timeshare in a resort that you love and you plan on vacationing there every year, then it will turn out to be a great investment especially if you take into account savings on hotels over the years and other factors, says Patrick E. Article: The most imp… 2. Why You Shouldn't Rely on People's Stock Picks By Teve Torbes Summary: Even those professional stock pickers usually can't do better than the Dow or Standard and Poor's index ' it's just very difficult to do, largely because individual stocks don't have the kind of diversification benefits that a stock index fund does. Article: Everyone is cosmically trying to give you stock advice. I hear all the time nigh great new stocks that I should just put a little money in – my friends tell me that they have the in… 3. How Do You Determine Resistance and Support Levels? By Larry Potter Summary: Support is a price level a stock or average tends to hold above.We use these as trading signals as stocks often bounce up off of support levels or break through resistance levels if they are going to move up. When a stock breaks its 50 day moving average on strong volume, that is another caution flag as the 50 day moving average is a critical level for stocks that are trying to keep moving up.Trendlines are similar to moving averages. … 4. Investing In Son's Business Could Cause A Real Family Feud By Tim Knox Summary: The very wording of your question tells me that you have not yet made that all-important distinction.It sounds like your wife wants to make a gift of the money, expecting nothing in return but the undying love of her last born son.You, on the other hand, don't know if you should offer the money as a loan (should I loan him the money) or as an investment (worried that my investment will be lost).Until you can make that distinction, your m… |