johnnie5
2 posts
msg #200
- Ignore johnnie5 |
12/4/2002 8:51:40 PM
Can anyone tell me if they are making any money using this site. I am pretty good at Technical Analysis; BUT, I still have so much trouble finding the correct stocks to start with. ALSO, can anyone tell me where to find the 'hot' sector information. Thank you everyone. J5
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sarohde
14 posts
msg #202
- Ignore sarohde |
12/4/2002 10:59:03 PM
Hi from another new member!
I've been a new member now for just a couple of weeks. For what it is worth here is my response to your question:
About 8 months ago I started reading books on stock trading, GOOD BOOKS. All of William O'Neils books (Author of Investors Business Daily-I highly recommend the paper also), all of the books by Toni Turner as well as a few others. All of them tell you how to use indicators, track price patterns, when to buy/sell and everything else-which is all great and good except for one thing! They don't give you any means by which to scour the 17,000+ equities out there to find those winners!
Well after six months of reading every night, then two months of developing and testing my "rules for trading" I started to spend countless hours every night looking up stock statistics on hundreds of stocks to try to find those with the indicators that had those elusive values the books all talked about. NEEDLE IN A HAYSTACK!!!!
With this site I HAVE reduced my search time down to minutes versus hours and am able to then analyze my "short list" of 3-4 candidates that meet my rules for trading.
YOU still have to determine your "rules for trading" to make money, and that means understanding (at least conceptually) the pearls of wisdom from those books. Apply your concepts using this tool and I'm sure you will reach your goal(s) much quicker.
Good Luck!
P.S. I've made more money in the last 2 weeks with stock I've found here with Stockfetcher than in the entire 2 months prior when I was trying to test my trading rules.
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johnnie5
2 posts
msg #210
- Ignore johnnie5 |
12/5/2002 7:51:23 PM
Dear Sarohde,
I thank you very much for your time and effort that you put in to answer my question. I think that I might be your 'twin from Canada' because I always use
IBD and it's products. I do have my own rules of engagement, but finding the haystack is just as hard as finding the needle in it. I study at least 8 hours a day and I believe in momentum trading, I have streaming quotes and all that, but just finding who is out of the gate first is my challenge. Wish me luck and again thank you. PS. Current temperature is 16 degrees here............
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sarohde
14 posts
msg #211
- Ignore sarohde |
12/5/2002 8:09:50 PM
Hello Again,
First out of the gate on any given day is a challenge! I have been using Ameritrade as my online broker and they have a "Real Time Screener" tool that allows you to scan for stocks meeting certain conditions right at the moment.
I don't want to misuse this wonderful forum for other than Stockfetcher issues so feel free to contact me at sarohde@msn.com and I can explain further as to how I try to accomplish what you are looking to do.
P.S. Currently 12 degrees here in Wisconsin!
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