Short Term Trading Weekend Lounge: 12-14 Jan, page-158

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Robcc66

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14/01/18

15:02

Post #: 30290741
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Originally posted by Robcc66 ↑

First time poster to STT but have been reading it for a while. I'll jump in now with a many thanks to the many that give their time running it and also those that contribute the much thought out research.

Just a quick background, took a redundancy a bit over two years ago and as I'd always had a bit of a passion for the sharemarket elected to give it a try as a full-time job trading from home. Pretty good first fin. year, disaster second fin. year losing all the first years profit and the same again. Worked nearly two years for minus $4k. Dug deep on where I went wrong, realised I made heaps but wasn't taking it out, hence the market was happy to take it all back and then some. Was happy with my entries but really needed to tighten my exit strategy as it was crap. Have worked hard on my strategies and tuned up my market psychology deficiencies and happy so far with the outcome, it's paying off financially better than I could have thought, but also in the way I'm handling my trades. Very strongly technical based method using my own modified version of Elliott, but also a modified RSI and a few of the other usual culprits in the technicians toolbox.

Follow: Get a couple of reports from Elliott Wave Int. that assist with my macro view. They do good research but find they can be very early at times with tops and being too early can be very expensive with lost opportunities. For stock selection I follow this thread for tips that fit in with my method in conjunction with scans on the charting software. Have found most of the posters on this thread seem pretty level headed whereas many of the individual share threads can be quite manic in their defense.

Sentiment Barometers: Signed up for the DSI from trade-futures (when on special) and it's a very good indicator of confidence, once again though for more macro view and also commodities. Other than that I use targets from my modified Elliott and then look for divergences with indicators which provide a reflection of waning confidence on many occasions.

Excuse if it was a bit long but thought I would introduce myself on this thread.

Regards
Rob

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Error: Lost $4k more than I made first year so was two years work for minus 89k. Big difference.
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Short Term Trading Weekend Lounge: 12-14 Jan, page-158

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Short Term Trading Weekend Lounge: 12-14 Jan, page-158

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