Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: TA2K who wrote (9369)	2/16/1999 3:52:00 PM
From: Sean W. Smith	Read Replies (2) \| Respond to of 12039

If you're really telling me that making money for the TA gurus is not fairly straightforward, systematic, and totally expected, then I am just amazed and I just wouldn't believe it. If such is really in fact the case, that the gurus have a hell of a hard time making money, then I'm going to have to pursue some other activity -- because I'm planning on becoming quite rich from trading, a lot richer than either the doctor or the pilot. Please tell me that it aint so.... How do you plan on being rich from trading when don't want to spend time or pay the dues???? your doctors and pilots spent years of the life learning their craft. Why would you think that being a market technician is going to be any easier??? I can't stress enough, that you will not succeed in TA or life with this type of attitude. Most goals that are worth acheiving and provide financial or personal satisfaction all involve an investment in time. Do you say a doctor is holding out if he can't explain in 5 minutes or less how to deliver a baby or won't tell you much because he doesn't want you trying to deliver one on your own and killing one because of his cursory explanation??? Does any of this make sense??? Sean

To: TA2K who wrote (9369)	2/16/1999 9:14:00 PM
From: Dave O.	Respond to of 12039

< If you're really telling me that making money for the TA gurus is not fairly straightforward, systematic, and totally expected, then I am just amazed and I just wouldn't believe it. > If making money were easy wouldn't everybody be doing it? I don't mean to butt in here but I recall a number of these guys from the "old" Prodigy days, 4 or 5 years ago. And I know a number of them are VERY giving of their answers. What you seem to be missing is that YOU need to develop your OWN system to trade. There are an infinite combination of indicators one can test in developing a system. I am constantly working on improving my system ... I have to, as this is how I support myself. So it is YOU who has to decide if you are comfortable with using RSI, stochastics, MACD, MA x-overs, ..... And what works for another person may be totally inappropriate for you. YOU need to define your trading horizon (days, weeks). YOU need to define BOTH your entry and exit points via a system that works.YOU need to create a database of stocks. Do you have stocks with RS and EPS > 70? 80? And doing extensive back testing of YOUR system does take a LOT of time. I hope you are truly prepared to work harder than you've ever worked before. Dave

To: TA2K who wrote (9369)	2/16/1999 9:19:00 PM
From: Dave O.	Respond to of 12039

< Using an analogy, I expect it's like a doctor delivering a baby. For most of us, it would be a pretty difficult thing, and we may end up killing both the baby and the mother. But the experienced doctor doesn't think it's all that difficult. > And the doctor got a 4 year degree and then went to med school, did an internship, etc. It was (is) a long road with a LOT of hard work. Developing a sound system based on TA is also a journey that requires a lot of dedication. The doctor (you cited) didn't just go ask a couple other doctors a few questions and then start delivering babies himself. Dave