-
Member
Thanks everyone for your advice, I will try his "Trend Trading" method as this seems to carry the least risk of all the methods I've looked at so far. His advice on money management also seems very sound.
I really want to jump in now, but a little (or actually very loud) voice in my head says to wait a while so I might give it a few weeks to see how things pan out. Once again, thanks for the advice.
-
You don't have to jump in WB, just do it in little steps.
-
I would suggest that you start "paper trading" immediately. Get yourself a trading journal and write everything down. What you "did", when, why and at what price. See how well this system works for you.
Why would you want to "wait for a few more months"?
Start getting some first hand practice right away. Learn the system and get some experience in implementing it before risking any of your capital.
-
Member
Originally Posted by Phaedrus
Why would you want to "wait for a few more months"?
The only reason I am/was thinking of waiting a while is because I just can't get a grip on what the market is doing at the moment. A company puts out bad news and the share price goes up, or someone puts out good news and the price goes down...just doesn't make any sense to me. I thought that if I waited until things settle down a little, I might be able to make more sense of everything.
-
Originally Posted by wbosher
The only reason I am/was thinking of waiting a while is because I just can't get a grip on what the market is doing at the moment. A company puts out bad news and the share price goes up, or someone puts out good news and the price goes down...just doesn't make any sense to me. I thought that if I waited until things settle down a little, I might be able to make more sense of everything.
Hi wbosher
Theres a lot more to it than company announcements.
heres a few to consider
What is the Market as a whole doing today
What did the other Markets in the world do last night
If you are looking at the ASX the performance of the USA markets the night before is a good indicator of what will happen today on the ASX and NZX
What do they sell and if its a commodity whats happening to the price of that commodity
Does currency exchange rates affect this company
Are their Announcements trustworthy. You can look back on what else they had to say for them selves and how it really turned out.
The list goes on but heres a couple of links to start with
http://finance.yahoo.com/intlindices?e=europe
http://www.kitcometals.com/charts/ni...istorical.html
http://www.findata.co.nz/Markets/Quo...=INDEX&s=OILBR
-
Originally Posted by STRAT
Hi wbosher
Theres a lot more to it than company announcements.
heres a few to consider
What is the Market as a whole doing today
What did the other Markets in the world do last night
If you are looking at the ASX the performance of the USA markets the night before is a good indicator of what will happen today on the ASX and NZX
What do they sell and if its a commodity whats happening to the price of that commodity
Does currency exchange rates affect this company
Are their Announcements trustworthy. You can look back on what else they had to say for them selves and how it really turned out.
The list goes on but heres a couple of links to start with
http://finance.yahoo.com/intlindices?e=europe
http://www.kitcometals.com/charts/ni...istorical.html
http://www.findata.co.nz/Markets/Quo...=INDEX&s=OILBR
had you mentioned a 30 day ma, i'd have sworn someone up north has brainwashed ya!
-
Member
-
And www.stocknessmonster.com is handy for a quick look at your watchlist and company announcements.
-
Originally Posted by wbosher
Thanks for that STRAT.
Another thing to consider when the price keeps going down in spite of good news is that there are probably people better connected with a lot more money than us who know a lot more about whats really going on than we do.
Hot Copper is a site where they now have a chart for each ticker showing when Directors buy and sell in the company they are running. This is not to be taken on its own but is useful to know in particular if they are buying or selling big. To find out how big, trace the date back to company announcements.
note : there are also a lot of dodgy posters on this site IMO so beware with regard to posts. I seldom look at posts there but have sometimes found the news gets out there first and look there cautiously if no other site is talking about something Im looking into.
Last edited by STRAT; 03-04-2009 at 09:54 AM.
-
Originally Posted by wbosher
The only reason I am/was thinking of waiting a while is because I just can't get a grip on what the market is doing at the moment. I thought that if I waited until things settle down a little, I might be able to make more sense of everything.
You are supposed to be following Guppy's system to the letter, remember? How else can you assess it accurately? He says nothing about "wait until you get a grip on the market" or "wait until things settle down" or "wait until the market makes sense". You could be waiting a long. long time!
WB, you are failing your first test. You have already added extra parameters to Guppy's system having chosen to ignore any "Buy" signals it may generate until you "feel differently about the market". If his system is of any value, it should work whatever the state of the market and whether you understand it or not. If you can't follow his system now, the chances that you will have the discipline to stick to your own system in the future are very slim indeed.
Start paper trading Guppy's system immediately, if not sooner! It is of little use asking everyone here what they think of it - it is what YOU think of it and how well it works for YOU that matters. Suck it and see! That is the ONLY way that you can evaluate whether it suits you or not.
Posting Permissions
- You may not post new threads
- You may not post replies
- You may not post attachments
- You may not edit your posts
-
Forum Rules
|
|
Bookmarks