I never read one steve, i'm learning as i go. stock selection is probably the most important. you want to be able to sleep nights. you have to be able to feel comfortable if a stock drops out from under you while you have a position open on it. you have to feel confident that it will not stay down forever. i'm finding some excellent sources of research on the net for that. for me it's a matter of finding out first hand. i feel that's the only really valuable way to learn. eventually, no matter how many books you read, you have to take the plunge. sort of like throwing the baby in the water to teach it to swim technique. that won't work for all people, but it's the only way i can learn. learn by doing, i guess you could call it.
besides stock selection there is timing. i'm getting the hang of that lately. my timing has been above average on my TRID covered call trades. i used to use tc2000, but that was way too much info. i came to the conclusion that all the indicators were useless for me. they were all derived from price and volume, which were already on the chart. so i stopped paying worden bros since i discovered the net. i use si and several other sources for end of day and intraday charts. again it's something that i can't learn from books. that's like learning what a full moon looks like from reading about it. again this is just my own way of looking at things. for others it may be different.
then you have to keep one eye on the exit in case the market tanks and hope you get to it first. -g- I found a stock that looks good as far as the numbers it puts up. i found it using a stock screen that i found surfing around the net. the stock is xico. i want to look into it. i might see if i can unwind my skey position since it popped. i won't get what i would if i held til nov. expiration, providing it stays above 20, but i don't feel all that comfortable holding til then, since i found out how deeply in debt they are because of aquisitions. anyway we will see. good luck, jack |
