StockFetcher Forums · General Discussion · Help with strategies for a beginner<< >>Post Follow-up
lilypond10
4 posts
msg #65195
Ignore lilypond10
7/18/2008 6:25:48 PM

Hi everyone

I need advice on a good start up strategy to learn with.

Here’s my current situation….I’m a high school science teacher with the opportunity to retire either this Dec. or at the end of the year. I traded long 8 years ago have but done very little since except some portfolio management so I’m basically starting from scratch.

I’m not able to trade during the day unless I stay home.

My husband day trades (also is an engineer in a lucky situation that allows it). He’s good enough at it that he expects to make it his job in the near future. So he’s a resource for me but not as a teacher. Also his strategies would not be my choice.

I want to pose these questions as a newbie:

• What strategies would you recommend for someone to start experimenting with?
• Are there strategies that start with the previous day charts and close that I could use the next day?
• I’m currently reading forums on elitetrader, stockfetcher and Brett Steenberger’s sites. What other sites would you recommend?
• I’m also going through a few books on trading psychology (Disciplined Trader, Trading Zone, Come into my Trading Room and Trading for a Living). Other books please?
• My husband has set me onto therumpledone to follow. Any others who are good for beginners?

I've picked up filters for fade the move and am looking at these currently. I haven't tried to trade with them except to feed information to my husband on one. He made a successful trade..


Thanks for any help,
Lily





klynn55
418 posts
msg #65202
Ignore klynn55
7/18/2008 9:25:14 PM

lily: follow 13th floors post and his direction on http://greenonthescreen.blogspot.com/

good advice and he is not selling anything!

a few more tried methods on this site five year tested on tradestation
http://bzbtrader.blogspot.com/

more methods here, tried and true: http://filteringwallstreet.blogspot.com/

and of course here.

WALLSTREETGENIUS
983 posts
msg #65222
Ignore WALLSTREETGENIUS
modified
7/19/2008 10:41:00 AM

Lily10 -

Welcome to the forum. In this thread you're going to find all kinds of different strategies and filters, because everyone here loves to help. But whatever you do, make sure you NEVER forget this one....

Have your husband look for the BB(50,.20) above price, and the BB(13,.10)below it. Make sure BB(50) it is as straight as an arrow, or pointing up! Meaning...never pointing down. Then when Slow Stochastics(5,3) Fast %K line crosses the D% line...GO LONG BABY! Now, two(2) things are going to happen...

1. Price is going to bounce off the BB(50) and start turning back down...

OR

2. You will get a long white candle that will pass through the BB(50), and that's your cue for a solid new major trend.

I offset the filter below at 2, so you can see how it's done over the past couple of days since the market turned. You can change the "OFFSET" to whatever day you want. Also, I don't know how experienced your husband is, but make sure he never uses this filter on a down day. Meaning, the S&P500 MUST be positive on the day! If he does...your teaching days will be numbered Lily10!


Good luck,


- WALLSTREETGENIUS -


Fetcher[SLOW STOCHASTICS(5,3) Fast %K CROSSED
ABOVE SLOW STOCHASTICS(5,3) SLOW %D 1-DAY AGO
SLOW STOCHASTICS(5,3) IS BELOW 50
DRAW LINEAR REGRESSION INDICATOR(20)
3-DAY SLOPE OF BOLLINGER BANDS(50,.20) IS ABOVE 0
BOLLINGER BANDS(50,.20) IS MORE THAN 2% ABOVE
BOLLINGER BANDS(13,.10)
SORT COLUMN 5 DESCENDING
VOLUME IS ABOVE 100000
CLOSE IS ABOVE 2
OFFSET 2
]








WALLSTREETGENIUS
983 posts
msg #65254
Ignore WALLSTREETGENIUS
7/19/2008 8:04:46 PM

JP -

If you read this, you should e-mail me about your bands. Remember I told you I saw something?....



- RIGGS -

chetron
2,817 posts
msg #65255
Ignore chetron
7/19/2008 8:31:25 PM

or even....


Fetcher[

/* thank you, wsg */

SLOW STOCHASTICS(5,3) Fast %K CROSSED
ABOVE SLOW STOCHASTICS(5,3) SLOW %D 1-DAY AGO
SLOW STOCHASTICS(5,3) IS BELOW 50
DRAW LINEAR REGRESSION INDICATOR(20)
3-DAY SLOPE OF BOLLINGER BANDS(50,.20) IS ABOVE 0
BOLLINGER BANDS(50,.20) IS MORE THAN 2% ABOVE
BOLLINGER BANDS(13,.10)
SORT COLUMN 5 DESCENDING
VOLUME IS ABOVE 100000

]




johnpaulca
10,088 posts
msg #65261
Ignore johnpaulca
7/19/2008 10:45:24 PM

WSG...check yo mail.

WALLSTREETGENIUS
983 posts
msg #65262
Ignore WALLSTREETGENIUS
modified
7/19/2008 11:00:39 PM

John -

Just sent you mail. Check it....

miketranz
671 posts
msg #65283
Ignore miketranz
7/20/2008 6:57:26 PM

Lily,my advice for what it's worth is 1)Know what time frame your trading2)Test the waters with small size3)Get to know a few stocks by watching them on a daily basis,then take a position.4)Always know your downside risk in dollars and cents.Learn to take a small loss.5)Always place a stop after you place a trade.6)There are numerous indicators but price is where its at.7)There are numerous methods,filters,signals.Do what works for you.8)Discipline and money management are the bottom line in trading.Without them,you won't be around long enough to worry about #1-7.Good luck.......

decipherlinda
133 posts
msg #65286
Ignore decipherlinda
7/20/2008 9:09:16 PM

Lily, the Technical Analysis of Stocks and Commodities magazine rates John Murphy's StockCharts.com as #1 for techical analysis. He's the main guru for technical analysis and just by following his daily emails where he analyzes the markets based on what's happening that day, including stocks that fit the topic, have taught me a lot. It's spoon-feeding and effortless. Also, end of June 2007, just before the market took a big hit and then again end of October, I knew (from him) to get out of the market just in time. You're always on top of the big picture in the markets by following him. It's roughly $20 or slightly more per month but well worth it until you get your legs.

Also, if you don't read candlesticks, learn. I got Steve Nison books from the public library and the scales fell off my eyes.

StockFetcher Forums · General Discussion · Help with strategies for a beginner<< >>Post Follow-up

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