Replies to post #83808 on Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

It is not the genius, it is the decisivenes to a. recognize trends, and b. recognize when the trend turns and c. recognize rapidly when you are wrong. The worst thing for a trader is becoming a LTBH, because positions have gone against him and then he decides to wait until it comes back "to him". You may want to start with a hybrid, some five to 10 positions swing trading and 5 to 10 positions day trading.

Last, remember that you do not have to be all the time in the market, be in only when you feel pretty sure that you are going to be right with a given stock, or with the market's direction. Right now I am at 74% cash and am quite happy to have stepped aside after lunch. Always have a plan, and as much as you can, plan the play and play the plan.



Zeev

[Newly2b]

Madhouse, no, POORHOUSE, probably <ggg>.
Newly

[gloe]

My recommendation is that to start, you pick one stock to trade all the time. DO NOT try to have multiple daytrades open at one time the way Zeev does. Get to know one stock very well. Then when you feel comfortable, add another to your arsenal, and then another. I personally trade only the mini index futures with very little exception. I know all the support/resistance areas because I trade them so much.

Pick something very liquid, without too much jerky movement. I recommend something like MSFT -- it moves enough but is not a bitch like some of the high beta stocks Zeev and some others trade.

Read -- I recommend 2 books by Alexander Elder -- "Trading for a Living", and "Come into My Trading Room". And a book by Mark Douglas, "Trading in the Zone". Also, John Murphy's "The Visual Investor", and finally, Stan Weinstein's "Secrets for Profiting in Bull and Bear Markets".

Expect to pay tuition for your education.

Good luck, although luck has nothing to do with it.