tag:blogger.com,1999:blog-30128229.post7585637059505982762..comments2023-09-30T07:11:55.493-06:00Comments on MarketFN.com: The Flow of TradingInvestment Househttp://www.blogger.com/profile/14771320644915759241noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-30128229.post-27430155975561211602010-07-19T09:52:11.851-06:002010-07-19T09:52:11.851-06:00Thanks for writing, Michael. It is impossible for ...Thanks for writing, Michael. It is impossible for me to answer how much time you need to dedicate to learning about the markets other than to say something like: as much as it takes. When we begin learning trading, the information can seem overwhelming. Part of the difficulty comes from learning a new language. Options, futures, puts, calls, FX along with a myriad of other words are foreign at first, but as we gain knowledge they become second nature. I would suggest you learn at the pace that is comfortable for you understanding that you may become a little impatient to put some money on the line. There is no need to yield to the impatience. Learn first, then paper trade, and if successful with your paper trades, gradually put money at risk in small positions. I would suggest you first study trading stock or ETFs (Exchange Traded Funds) and then perhaps add some knowledge about options like covered calls and protective puts. You may never trade futures so that might come later in your study. When you write that you want to engage in short term trading, I would add a caution that it might be better to let the stock decide when you get in and when you get out rather than trying to pre-determine how long you will be in a given position. If you believe it would be of any help, I offer a 5 DVD set entitled SWAT (Stockmarket Weapons and Tactics) that is a complete two day seminar I gave that starts with the basics and continues through several option definitions and strategies. Overall, the DVDs cover 13 strategies. If you are interested, you may contact me through Earleen at MarketFN. The price for the 5 DVD set is $199. I hope your studies go well.<br />Bill KraftBill Kraft, MarketFN.comhttps://www.blogger.com/profile/08274803638438137352noreply@blogger.comtag:blogger.com,1999:blog-30128229.post-12171758903944791502010-07-19T08:31:55.298-06:002010-07-19T08:31:55.298-06:00I look forward to your articles each week. Thanks ...I look forward to your articles each week. Thanks for putting in the time to give me the insight into what kind of attitude I need to become a successful trader. I do have a question. I am new to trading and I don't have any real training with economics. My interest is with short term trading in stocks. Sometimes when I read the wall street journal or listen to CNBC I get discouraged because so many things they mention go over my head. For instance, options, treasury yields, bonds, futures, FX. I know that these are all important components of the market, but how much time do I need to dedicate to learn these components to become a successful day trader? Thanks again.Michaelnoreply@blogger.comtag:blogger.com,1999:blog-30128229.post-14886149944313640632010-07-18T21:09:34.734-06:002010-07-18T21:09:34.734-06:00Thanks Bill
I appreciate your comment.Thanks Bill<br /><br />I appreciate your comment.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-30128229.post-40911825750860911892010-07-18T12:16:36.764-06:002010-07-18T12:16:36.764-06:00Congratulations, Morris. I believe you have come u...Congratulations, Morris. I believe you have come upon two critical insights that could well take your trading to the next level. First, the idea of letting the stock throw you out and then understanding that managing winners is as important as managing losers. By letting the stock throw you out, you let profits run and that is an equally important part of the two edged approach to success -- cut your losses and <b>let your profits run</b>. The lesson learned in that trade is much more important than the result of the trade, itself.<br />Bill KraftBill Kraft, MarketFN.comhttps://www.blogger.com/profile/08274803638438137352noreply@blogger.comtag:blogger.com,1999:blog-30128229.post-46735491227852002522010-07-17T22:45:08.361-06:002010-07-17T22:45:08.361-06:00Hi Bill great blog.
I had a interesting trade o...Hi Bill great blog.<br /><br /> I had a interesting trade on July 6th. Shorted AMED @37.49 <br />covered @ 36.01 a nice 4% gain in one day.As i can see now I managed this trade very poorly. If I had only moved my stop up to a profitable area and stuck with it, I would of hit the $10 drop on on July 12th. I should of let the stock throw me out. This could have been one of those exceptional trades that make a big differance.<br /> I feel I have learned alot from this trade.This is one of those trades where I could of let the stock run without risking much of my profit as it went sideways for 4 days . <br />I see managing the winners is as important as managing the losers.<br /><br />MorrisAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-30128229.post-24499874711390793952010-07-17T12:58:00.169-06:002010-07-17T12:58:00.169-06:00Thanks Paul. Accurate observation about the Babe.
...Thanks Paul. Accurate observation about the Babe.<br />Bill KraftBill Kraft, MarketFN.comhttps://www.blogger.com/profile/08274803638438137352noreply@blogger.comtag:blogger.com,1999:blog-30128229.post-72139964526871411622010-07-17T12:57:23.671-06:002010-07-17T12:57:23.671-06:00Thanks for writing, Barry. I'm glad to hear th...Thanks for writing, Barry. I'm glad to hear that the article may have awakened a new insight and sincerely hope it helps you improve your trading.<br />Bill KraftBill Kraft, MarketFN.comhttps://www.blogger.com/profile/08274803638438137352noreply@blogger.comtag:blogger.com,1999:blog-30128229.post-71461030383324434632010-07-17T12:17:19.744-06:002010-07-17T12:17:19.744-06:00Well said Bill. Games are won on base hits, not gr...Well said Bill. Games are won on base hits, not grand slams. Seems to me that Babe Ruth was also the strike out king.<br />Paul RodenAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-30128229.post-26509549430130247382010-07-17T08:43:48.420-06:002010-07-17T08:43:48.420-06:00Hi Bill,
I have been trying to trade for years mos...Hi Bill,<br />I have been trying to trade for years mostly unsuccessfully, and have found most of your thoughts and ideas familiar to me, but this article today was a genuine eye opener. I have been stuck in that mode of thinking myself....Hopefully I can get into the flow with more success..<br />Barry ParishAnonymousnoreply@blogger.com