Hello Bob,
I'm glad it helped..... For anyone out there who has EVER picked a stock that has gone UP,,,, Guess what???? You have PROVED that YOU CAN DO IT!!!! ALWAYS remember that if you can do it once, YOU CAN DO IT AGAIN!!! Do not let ANYONE tell you that you can't!!!
I know for a fact that there are people on these Boards who were in the same position as you AND THEY NOW BELIEVE!! They believe because they are DOING IT NOW!!! It only takes ONE successful trade to show that you CAN do it...
With that said please do not thing that Mr. Market is THAT EASY because he is not.... What I'm trying to tell you is IT CAN BE DONE!!! Most people who tell you you're crazy either do not know what they are talking about, have been brought up as failures or are jealous of your Dream.... As you get deeper into TA you will realize that it is not voodoo or magic, just logic, common sense and "PERSONALITY CONTROL". The system you build is probably the LEAST IMPORTANT piece of your arsenal... The most important piece is YOU!!! That's why it is so important to BELIEVE YOU CAN DO IT Once you believe you can do it YOU WILL DO IT!
You must learn to live on the BLT of TA... It is your nourishment and fuel to greater profits.... It is your TA LAW... Build your systems, Learn TA, Trust your Indicators... Once you do these three simple steps you are on your way to greater profits.
IS it easy???? Yes and no. It depends on YOU and the type of old baggage you are bringing into the game.. Can it be done??? YES! Yes is the ONLY answer to the question..
Let's look at the BLT of TA one step at a time and see how easy or hard it really is.
BUILD your system. Well, that can't be too hard with all the systems floating around on these Boards.. A system can be as simple as a 5-13-40 crossover and as complex as some of the things Richard, Andy, Chan, Jerry, Bill and many of the TA Veterans throw your way. A system can be ONE indicator or a HUNDRED Indicators, it doesn't matter. It is what YOU DO EVERY TIME YOU TRADE. This is what we call CONSISTANCY. Once you feel comfortable with it you CAN START MAKING MONEY WITH IT.
LEARN TA.. Yes, the learning is NEVER over.. As you learn more about TA your systems start to evolve. You start adding and subtracting indicators and tools until finally you have it. The perfect system for the perfect trader. Of course this only last for a few weeks because you will ALWAYS find something to change. But, that's the beauty of TA. It is never stagnant. Each day brings a new story and YOU are the translator. It can be a good story or a bad story and it all depends on YOU! After time you will find yourself going back to many of the things that you started with.. Yes, the things that you discarded in favor of new more exciting things. That to is the nature of TA..
TRUST your Indicators.. This is the MOST IMPORTANT step you will ever take in TA!!!!! You must LEARN to trust your indicators or you will NEVER make CONSISTANT money in the Markets!!! As they say in Bowling, "TRUST IS A MUST!!" This is where the EMOTIONAL BATTLE is fought and it's fought EVERYDAY YOU TRADE. Yes, you will eventually get to a point where your Intuition will help you BUT that will be well down the road and AFTER you have successfully completed this step!!!.. This is where you SELL when you have lost the 10% you set as your limit BEFORE you bought the stock... This is where you SELL even though the stock looks like it may continue up because YOUR SYSTEM told you to sell.. This is where you sell because YOU KNOW IT IS NOT PERSONAL, IT IS BUSINESS!!! This is where you BECOME A TRADER!!!! When you get to the point where you can look at a trade as nothing more then a business transaction AND NOT some sort of measure of your manhood, you will know that you have made it... Until then, stay with your SYSTEM WITHOUT THINKING.
I always say that it's not the system that makes money in the Markets, IT'S THE TRADER! Most systems will make money in the Market when they are used right. It is the TRADER that proves to be the difference...
Any Help??????? Dave Evans |
