I often look at the discussed and posted threads in statistic's, to see where the traffic is.
Many investors/traders always have the "next best thing" the problem being that months and sometimes years go by while the fruit ripens, only to watch a whole orchard bear the best fruit many times over.
Price action is key and as you can see by the CBA/LYC overlay, as an individuals the the hard question needed to be asked of yourselves is how well have i managed my time in relation to price action in the last year.
DFS (usa stock) has been one of my favorite stocks since the 09 lows, I think its easy to see why. In terms of social media pages, it remains BORING it gains very little exposure but price is king isn't it ?
The most common fault of investor/trader is to flog a horse after the race is run, let me use a stock I trade some times to show a good example of what to look for in price action
Now lets get back to that most popular of popular's in which
Price action repeats over and over again, and its the one gauge of strength and weakness. As you can see 2 ranges stick out here and both the larger ones produced the tops.
Below, After the 1994 top you can see a repeating down range occurred and currently price action has completed 1 and if the 2nd completes then its into along term support/resistance line. Also a couple examples of strong and weak price action. weak price action takes time as you need to flush all the negatives out of the system again and build trust. You will often see some astute investor's apply a keen eye to management history of an individual ( think Cheney and WES )
Now I have and will trade LYC again, and here is a chart from earlier in the year, to show that I did my homework and I don't have to waste time and energy on something that does not meet my criteria !
First thing I look at with a stock is the trend ? No matter how much good bad or indifferent information or anlysis you show me, thats a downtrend
Nothing wrong with a downtrend, you just do the research and wait for the criteria to fall into place if you think the stocks good enough
You have 4 days before a new year starts, make it count and fix that time management I say !!
"Insanity is doing the same thing over and over again but expecting different results."
I took the time to do this post, knowing that if i change one person's bad habits of 2012, then its worth it !!!
BTW i am looking for a spell in CBA around the 6380 ( 11 x 580 all time low ) level for now :)
