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Strategies & Market Trends : Trading For A Living
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To: Young Gun who wrote (90)5/21/1998 10:06:00 PM
From: Adelantado  Read Replies (2) of 1729
 
If you want to day trade, read PAVLOV.

The best source of information for making money in the market is the finantial table of the annual report for the company you are interested in and the 10Q. If the company is making money, then invest in it. If the company is not making money, don't invest in it, or short it. The better the earnings the better the company. The worst the earnings, the farther away you should get.

Any other methods are just ways to avoid analyzing that information ...short-cuts that are not only dangerous but habit forming. On occation you can make some money using a short-cut and the quick reward of a few thousands during the day just reinforces the habit...to the point of forgeting the pain of losing money. After a while the person only remembers making money and not the times that money was lost.

This is particularly true for day traders who boast about making money by feeling the trend in the market using real time movements "TICS") in price and vol. Sure, with enough trades anyone can have a good day...but what about the days when the feeling were wrong and everyone went south?

I believe a Russian scientest discovered that in some of his animal subjects a long time ago. Was his name Pavlov?

Joe.
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