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Bluewolf

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Everything posted by Bluewolf

  1. Bluewolf
    Thanks DugDug, I already knew I would probably have to sift through a lot of BS to find some gems of knowledge. I definitely agree with understanding my own psychology to trading and that's what I am currently concentrating on instead of just learning a system. I think this has been a big problem in my past as I was not always comfortable with some of the trading decisions I made. Good trading to you and thanks again.
  2. Bluewolf
    Thanks Steven, So here's what I got out of the statement and threads you referred me to. 1. Have a system in place and do not let emotion define your trades. Stick with the plan. Keep a journal to review trades to see what worked well and what didn't. 2. Understand yourself so as to feel comfortable with your plan and trades. I do a lot of process development in my day job for manufacturing and work-flow so following a system is something I would not have a problem with as I am **** about having a process in place and following it. I had not thought about keeping a journal when it comes to my trades but is an excellent way to track and refine any system in place. I should have thought about the journal as it's another tool I use in my day job to streamline and simplify process's. You stated "Forget about indicators and learn first price action/reaction" I take it you are referring to support and resistance? Beside S&R are you also looking for specific patterns? Sorry to ramble and ask so many questions but I have another two. 1. Any recommended reading on price action/reaction to help me develop a good system? 2. I am also overwhelmed with all the charting software out there. Whats your preference? I am only paper trading while I develop my system. That's part of my psychology until I can prove to myself with confidence that I can trade. Thanks again for the excellent advice.
  3. Bluewolf
    Hello, I'm new to making my own trading decisions and wish to learn about swing trading. I've studied allot of the indicators and am suffering from information overload. I am looking for some mentoring as to the best indicators for swing trades lasting from 3-14 days. I don't know whether to stick with oscillators and such or use more of the indicators that day traders seem to use such as price, volume and TICKS. Also how far back in the stocks history do I review for short time swing trades? I have no time goal for learning a system only that I want to become comfortable with whatever system I learn. I have pretty much put the indicator study on hold until I can get some advice from some real swing traders who successfully trade for a living. I need help learning and developing my own system. Currently I am studying more of the psychology of trading to understand my own best approach for me to begin trading. I learn best from examples and books but any advice is welcomed. Thanks in advance.
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