Tons of questions
Posted 19 July 2011 - 08:28 AM
Posted 04 August 2011 - 02:24 PM
I'm David and I have a ton of questions. I'm a bullet point kinda guy so I'll list them out in no particular order. Any help or answers would be greatly appreciated.
1. I see IT a lot in this forum and I'm not sure what they are talking about. Is it Gartner Inc?
2. Are there any Cons to MACD other than it lags? I backtested MACD divergences as giving pretty good signals.
3. Are ETF's the way to go for most traders? It seems like the same ideas apply to Single company equities and as long as you are disciplined with your approach and have well placed stops your potential for growth is greater.
3b. Right now, I'm looking at SPY, SSO, SDS, and QQQ. Is there anything else I should look at as far as ETFs go.
4. I'm kinda of paper trading with the Elder Triple Screen system. Makes sense to me. MACD then SLOW Stochastic, and Force Index. Criticism?
5. So I've read a good amount of technical trading, but I've never really read about futures. Are Futures riskier? Are the profit goals for futures the same as for technical trading (about 1.5 - 2% a month)? Is there a Blog, or book you would recommend on Futures.
6. Are their any parts of experience or wisdom you would like to impart?
7. Is freestockcharts.com good enough for simple trading on a daily to weekly level? If not, can you suggest some software better?
8. Are their any new indicators that I should be aware of.
9. I've read Technical Analysis of the Financial Markets by Murphy and Trading for Living by Elder. Any other suggestions on literature I should follow up in?
Thanks in advance.
I guess no one saw this or took the time to answer these... So, these are my opinions and mine alone:
1. IT is intermediate term.
2. MACD is good for divergences and the trend above the zero line. And yes it lags but it also confirms.
3. The "way to go" is an individual trader's decision. ETFs because they have diversification built-in. For big moves, 3X ETFS, TNA and TZA; DRN, ERX, FAS and their opposites. But for some stocks are saner.
4. Good to be paper trading first. I don't know Elder's system so have no comment there.
5. The technical books are the futures books. Future are riskier because of their high leverage but it is risk that can be control with discipline. Suggest you learn to make money in stocks or EFTS before jumping in that kind of leverage.
6. Simplify -- breath and price today are a continuation signal for tomorrow.
7. Don't know freestocks. I use Trade Station for everything.
8. The McClellan Oscillator rules.
9. The Murphy book was good for basics. Anything by Vic Sperandeo is great. Articles and interviews by Linda Bradford Raschke also. William O'Neill's "How To Make Money Selling Stocks Short" is better than his "How To Make Money In Stocks" both the latter is good too.
Hope that helps.
Good luck and good trading.
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."