OFFICIAL STOCK MARKET AND ECONOMY THREAD VOL. A NEW CHAPTER

[halcyon]

Is the market bad right now? I'm reading as much as possible before I go in so I dont make too many mistakes. 

Big ups to everyone that have dropped knowledge. I appreciate it.

 

[slighted]

You can't avoid mistakes especially if you're new to the game.

 

[halcyon]

That's why I said, "too many mistakes" on my previous post. I'm certain that mistakes will be there but knowledge is power.

 

[johnnyredstorm]

If you can't recognize market conditions you're not ready to trade.

 

[noskey]

Especially right now. This has been the most volatile the market's been since 2008, and honestly nothing is going to slow it down any time soon. More people are becoming bearish and taking whatever profits they can right now, while options are wildly expensive and keeping the bulls working like crazy to push the markets out of a correction.

Try your hand at a simulator right now, see what mistakes you make, and try to correct those before jumping into a pirhana infested deep end of the pool.

As much knowledge as you can have, one mistake these days can wipe you clean.

 

[halcyon]

Especially right now. This has been the most volatile the market's been since 2008, and honestly nothing is going to slow it down any time soon. More people are becoming bearish and taking whatever profits they can right now, while options are wildly expensive and keeping the bulls working like crazy to push the markets out of a correction.

Try your hand at a simulator right now, see what mistakes you make, and try to correct those before jumping into a pirhana infested deep end of the pool.

As much knowledge as you can have, one mistake these days can wipe you clean.

Wow that's crazy. I appreciate the advice and I will keep studying. 

Thats scary lol but it is what it is. Have you heard of Timothy Sykes? This guy is huge on trading penny stocks.

 

[johnnyredstorm]

Sykes is a loser who makes his money these days from front loading his subscribers.

Nathan Michaud is the one you want to learn from and study under.

 

[halcyon]

Sykes is a loser who makes his money these days from front loading his subscribers.

Nathan Michaud is the one you want to learn from and study under.

Thats what people on Informed Trades said. Thank you and Ill give him a look up. People say that Ed Seykota is good too. 

 

[johnnyredstorm]

I studied under Nate and respect the hell out of him. Good genuine dude who wants people to learn how to trade instead of following alerts. It's s tough game and the emotional/psychological aspect is the final frontier which many struggle with (myself included).

 

[halcyon]

That's interesting. Stock market sounds like an emotional rollercoaster lol. Did you ever meet Nate in person?

 

[johnnyredstorm]

Na. They have an event in Vegas each year Traders For a Cause but I just haven't had the funds free or desire to head out there. Maybe next year. I believe he lives in like New Hampshire or something.

Trading really is an emotional roller coaster. It's basically the only thing holding me back from consistency. I know the patterns to look for, but emotions and lack of discipline gets the best of me at times. Something I need to work on and hope I can correct this week. It's dumb but every time I stand back and paper trade, I do really well, when I put real cash on the line, I make the same dumb, impatient mistakes.

 

[halcyon]

Na. They have an event in Vegas each year Traders For a Cause but I just haven't had the funds free or desire to head out there. Maybe next year. I believe he lives in like New Hampshire or something.

Trading really is an emotional roller coaster. It's basically the only thing holding me back from consistency. I know the patterns to look for, but emotions and lack of discipline gets the best of me at times. Something I need to work on and hope I can correct this week. It's dumb but every time I stand back and paper trade, I do really well, when I put real cash on the line, I make the same dumb, impatient mistakes.

Vegas is expensive but the whole event sounds worth it.

Have you heard of Napoleon Hill's Think and Grow Rich? Maybe the book could help you out mentally for you to be more consistent with your desicion making. I highly recommend it if you haven't read it.

 

[johnnyredstorm]

I think I own it somewhere in my house. It's really been about being too aggressive and being early to trades. I know the issue, just gotta apply the solution.

 

[wizards23]

Been having the same issue this past week JRS. Mysure account was up nicely, slowly grinding toward that double and then chopped it in half last week. I'll hit you up tomorrow, been meaning to catch up and swap ideas

 

[johnnyredstorm]

Yeah for sure man. We both got sloppy from a protection aspect.

 

[degenerate423]

Is the market bad right now? I'm reading as much as possible before I go in so I dont make too many mistakes.

Depends on what you consider "bad." If you're looking for short-term plays then it's pretty good.

 

[teamjordan79]

Is the market bad right now? I'm reading as much as possible before I go in so I dont make too many mistakes. 

Short answer: yes.
Longer answer: there's not such thing as "bad" if you make the right moves.

 

[johnnyredstorm]

Steve Burns ‏@SJosephBurns 21m21 minutes ago
The reason the greats are great is because they didn't give up during times of hardship. Every pro was once an amateur. - @modern_rock

 

[johnnyredstorm]

 

[dathbgboy]

http://niketalk.com/content/type/61/id/1739310/[/quote]

And my thinking is why I missed out on NKE at $80

 

[rexmakesbeats]

And my thinking is why I missed out on NKE at $80

i've been waiting forever for a pullback in NKE

 

[tennhouse2]

What are your responsibilities, if you don't mind me asking?

Care to drop some insider information?







...

Lol miainly do work with financial advisors giving more general information, how much there clients funds are paying out and organizing portfolios things like that but i am learning alot

 

[johnnyredstorm]

Couple of resistance areas/potential upside pivots in FB: 95.20 and 96.93. Should get the 100 magnet if it breaks and holds 96.93. Idk how much I trust this market though. Trade the price action and manage risk is all you can do.

 

[johnnyredstorm]

http://traderfeed.blogspot.com/2015/10/what-is-your-emotional-p.html

 

[based mod]

> OCT 19

before

HAL - Halliburton
HAS - Hasbro
MS - Morgan Stanley
PETS - PetMed Express
VRX - Valeant Pharmaceuticals

after

HA - Hawaiian Holdings
IBM - International Business Machines Corp
RMBS - Rambus
SIX - Six Flags Entertainment
SONC - Sonic Corp
STLD - Steel Dynamics


> OCT 20

before

ATI - Allegheny Technologies
CP - Canadian Pacific Railway
HOG - Harley-Davidson
LMT - Lockheed Martin Corp
TRV - The Travelers Companies
UTX - United Technologies Corp
VZ - Verizon Communications
WWW - wolverine World Wide

after

CMG - Chipotle Mexican Grill
CREE - Cree, Inc
DFS - Discover Financial Services
ILMN - Illumina
IRBT - irobot Corp
ISRG - Intuitive Surgical
VMW - VMware
YHoo - Yahoo!


> OCT 21

before

ABT - Abbott Laboratories
ANGI - Angie's List
ARMH - ARM Holdings
BA - Boeing
BHI - Baker Hughes Incorporated
BIIB - Biogen Inc
EMC - EMC Corp
GM - General Motors
KMB - Kimberly-Clark
KO - Coca-Cola Company
OC - Owens Corning
PII - Polaris Industries
STJ - St. Jude Medical
TMO - Thermo Fisher Scientific
WFT - Weatherford International

after

ALGT - Allegiant Travel Company
AMP - Ameriprise Financial
AXP - American Express Company
CLB - Core Laboratories
CLGX - CoreLogic
CTXS - Citrix Systems
eBay - e Bay Inc
EFX - Equifax Inc
FBHS - Fortune Brands Home & Security
KMI - Kinder Morgan, Inc
KNX - Knight Transportation
LRCX - Lam Research Corp
LVS - Las Vegas Sands
MLNX - Mellanox Technologies
NOW - ServiceNow
PFPT - Proofpoint
SNDK - SanDisk
TSCO - tractor supply Company
TXN - Texas Instruments
UIS - Unisys Corp
URI - United Rentals


> OCT 22

before

ACOR - Acorda Therapeutics
ADS - Alliance Data Systems
ALK - Alaska Air Group
CAB - Cabela's
CAT - Caterpillar
CY - Cypress Semiconductor
DNKN - Dunkin' Brands
DOW - Dow Chemical
DPS - Dr Pepper Snapple
FCX - Freeport-McMoRan
LLY - Eli Lilly
LUV - Southwest Airlines
MCD - McDonalds
MJN - Mead Johnson Nutrition
MMM - 3M Company
NUE - Nucor
PH - Parker-Hannifin Corp
PHM - PulteGroup
RTN - Raytheon
SWK - Stanley Black & Decker
UA - Under Armour
UAL - United Continental Holdings
UNP - Union Pacific Corp

after

AMZN - Amazon.com
ATHN - athenahealth
BJRI - BJ's Restaurants
BYD - Boyd Gaming Corp
COF - Capital One Financial Corp
EGHT - 8x8 Inc
FTNT - Fortinet
GIMO - Gigamon
GOOG / GOGL - Alphabet (a.k.a. Google)
JNPR - Juniper Networks
KLAC - KLA-Tencor Corp
MSFT - Microsoft
N - NetSuite
NTGR - Netgear
P - Pandora
SKX - Skechers
T - AT&T, Inc
TRN - Trinity Industries


> OCT 23

before

AAL - American Airlines
B - Barnes Group
COG - Cabot Oil & Gas
LEA - Lear Corp
PG - Procter & Gamble
VFC - V.F. Corp