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Old 06-23-2007, 12:22 AM
Dogpile Dogpile is offline
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Re: Newb to investing qustions needing answers

just realize you are sitting down with a bunch of sharks trying to take your money. it takes most people 9 months or more before they can even breakeven.

seriously, this is very complex stuff. I would suggest you read:

Street Smarts (Raschke & Connors)
Markets In Profile (Dalton)
Mastering The Trade (Carter)

My other advice:
1) don't overtrade your account. Find 1 or 2 very specific set-ups that only occur maybe a handful of times per WEEK and become a master of these trades and don't force 'em. Over time, you get several of these going and you get a few choice trades per day. You will STILL be wrong a fair amount of the time.

2) play for small targets most of the time. Rashke talks about how it is like fishing -- you cannot bag the big one every single day. you stick your line out there and see what you can get -- most of the time, they are small ones. occassionally, you catch a big one. just don't be the guy letting all the little ones go.

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