A Post Collection of IHUB's Greatest Hits

[di4]

Posted by: Monk Date: Sunday, January 06, 2008 7:57:06 PM
In reply to: di4 who wrote msg# 326 Post # of 1524 [Send a link via email]
Di4...

I posted this recently at Wealth University...thought it may help...not that it's any of my business...

I get PM's throughout the day (nowhere near as many as you, Im sure)... where people ask me when to buy this or sell that...what does this do or how do I read that...So how much did you make on that one...

The best advice I can give is this....Become a specialist.

Think about specialist are always the highest paid in any profession...medicine, law...you name it..

So the point is...rather than trying to learn every different type of play there is...PICK ONE..Get good at it...

If you can master one type of play, who cares what this or that does as long as you know the indicators of the play you chose...

Me, I like pincher plays...one of the easiest plays there are...simple indicators - signals...

I found myself on Monday sending Geaux Fish a PM and asking him if a particular stock was a good buy at the time because the signals were confusing to me...

He replied quickly and told me what I needed to know..

I then thought about it and said to myself ..self...what are you thinking...If you are confused by this stock...whay play it...obviously I was unprepared to enter with any confidence...

Needless to say, I didn't play that stock, and rather stuck with what I know...and traded with confidence...

To sum up:

Become a specialist and trade with confidence...
We are a network that will help anyway we can...

I hope this wasn't to long and hopefully it will help some learn from my mistakes...

Monkish