Short Term Trading Week Starting: 5th Sept, page-449

Hi @952i no worries - everyone is busy with their lives and most importantly of all why we're here: making money and researching the next trading idea. Yeap, I'm fired up to learn with everyone's help recently - just hoping I can keep the fire burning. Some like @gamefisherman have put up some hands for help this weekend so that will be exciting. On that note still wondering if you or anyone else can point me in the right direction behind the invite this weekend? how do I send an invite? or PM or the like? Or do I jsut create a new knowledge thread and tag people like @gamefisherman in or @forrestfield and anyone else willing to discuss in further in the public arena this weekend (or next, whenever it works. Sadly this weekend I was planning to read the STT knowledge library as suggested but I just realised that saturday morning to arvo I was attending a Colin Nicholson seminar for any who have read his work, and Sunday IC investor was visiting town so i was 'noseying' their introduction to trading seminars due to a discounted price. Hope I can pull out some time as I don't want to miss the open invite to learn!)
If you or @SectorLead manage to dig up that discussion I'd be interested to hear it. Thanks for your mini explanation about the EV. I guess with your example of JCS it makes me wonder now about some of the previous posts I think it was nanbo or someone who was giving another newbie some pointers on finding 'tip ideas' and the fact that ARM or someone was on a -ve EV, so it was a no brainer? Assuming this is a market cap in which cash is greater (to mathematically arrive at a negative).

Great to hear that it has eventually clicked for you. By a year - do you do this full time? My main problem is while my passion would be to just invest and learn about/work with businesses day in, day out, my day job keeps the money rolling in. If I could generate enough cash to just dedicate my time to 'clicking' i'd be very keen, but just curious if you and many traders here are full time, or how you best managed keeping up with the abundance of news in general, and that's before you even get to finding and researching individual companies. ANd assumedly having to dig up textbooks to learn how to understand certain sectors, business ideas or concepts/valuations, learn about TA and charting etc. etc. I guess there's no hard and fast way, but perhaps there are some tips some had which in hindsight they would have told their learning self years ago i.e. don't waste your time reading the fin review (contentious as some swear by soaking up all macro/micro knowledge through these news outlets, and others that say it is all just noise/hocus pocus so save your time). Would like to hear anyone's tips on fast-tracking learning experiences or honing focus on key topics that in hindsight you'd recommend?

1. very good point. I always say I'll just halt everything once i get out and liquidate a few good positions only to find another exciting opportunity and back in I am. Perhaps 'missing out' on some opportunities to formalise a plan in writing is needed - forcing yourself not to buy or sell anything is the hardest part!

2. This is probably the bit where discretionary inexperience gets me. Say you keep losses small as you say, how do you deal with those that turn up and the charts continue the upward trending chart line? Where does one draw a line and resume their position assuming their prior stop loss was a mistake and their initial fundamental valuations or opinions about the stock are continuing to be proven? Or is this one of those trading plan things you just need to iron out? I.e. once stopped out, forget about the stock no matter if it resumes its upward movement? Or do successful traders here have re-entry rules to deal with secondary emotions post-stop losses and the like.

3. Sounds like a XPE comment haha.
4. I've heard the diary concept many times. Would just love to see a 'trading plan' rules all set out and diary entries. I understand the concepts but just can't practically envision it. You diary what you expect, but if it went down how would you diary the reasons behind why it went down when you know no better? I guess without experience it is also hard to in hindsight rate a good decision over the alternative. i.e. your decision could have seen you lose money, but another decision would have seen you lose even more money - but as humans we are very selective in memory and we will only remember the first decision as once it is taken the stock is out of our portfolio. Does one therefore continue to monitor exited stocks and positions for some time to track how their past decisions were?? Or do most just 'move on' and clear the slate as ther eisn't enough time/brain power to track everything from the past?


Thanks for your pictures of wisdom. haha some gems in there. The second picture is particularly effective and a good read. Thanks for taking your time to respond and add some wisdom @952i