As Web's World Turns

[Websman]

I am nearing the end of my first year of trading and I have far exceeded my goals. I actually thought I would be lucky if I broke even, but I've done quite well!

Over the year, I have tried many different trading styles and have had varying results. I have learned a lot and have a lot more learning to do.

Here is a list of what I have tried and what I have learned-

1. I ordered a subscription to IBD, thinking it would help...it didn't. I'll just buy an occasional issue from the newstand. My conclusion-IBD sucks

2. I tried Daytrading and found that it isn't for me.

3. Chart analysis is a great tool, if I will learn to follow it.

4. Mr Markets method is superior to IBD. Mr Market is right when he says earnings rule.

5. I've had some luck swing trading, but will limit these type of trades.

6. I had my hugest success on SIRI. The reason for this, is that I saw the potential early and jumped in before the crowd noticed. I still say that satellite radio will be huge.

7. I also had a lot of success with DHB. I saw the demand plus it had great fundamentals.

8. I also found that I tend to jump in and out of trades too often.

9. I jumped ship too early on a lot of trades. MCRI is a prime example.

10. Mr Market has the best trading site on the internet. I hope Mr Market decides to continue it for a long time to come.

I am going to hold my SIRI positon as I believe Sirius will blow out their one million subscriber projection which will send it up. If it helps any, I have ordered a Sirius receiver for myself...lol SIRI may go down for a few days, but I have a lot of room to play with.

Today was my last buy of the year. I'm holding off until January before I make any more trades, but I'll still be here to watch and learn!

Webs...

[Runner]

Webs- your right as time tells all. In fact SIRI may very well run up 10,000%. That’s what makes it fun. No one can assure anything in the market except that people win and lose money everyday. I believe giving advise to others is also a touchy thing. We can all look at a chart and see something different. What works for one does not mean it works for another. That’s why one needs to develop a plan that works for them. I’ve been in your shoes before. It was raining so I got to stay by the screen all day. I was like “there must be something to buy”. Well the market was not doing very well and I new it, but I was searching for somewhere to place my money. My plan for that day was the just buy something. Needless to say it turned out to be a bad choice.

Do we sometimes look for the perfect entry point and not even think about an exit plan? I know I’ve done it before. Where is the money made on the entry or exit? I was famous for buying high and selling low. After awhile of licking my wounds I decided to try something new. I would buy into weakness and sell into strength. Bingo a light bulb went off. I was buying while others were selling. I was selling while others where buying. Now several of those buys turned out to not work, but this time I had a plan and I would get out at the drop of a hat. Yea I would take my 2-5% loses and move on. In fact I lost more trades then I won. I started to see how my small loses compared to my few winners was adding up. I was like man I’ve been in 10 trades and 7 have gone against me but I’m still overall up. I started to think more short term. In fact if a stock had ran up for 3 days straight I would not even consider it. If it gapped up 2 days in a row I’d tighten my stop real tight or sell ½ the position. I came across stockcharts.com and started playing with channels. I noticed stocks hitting this lower channel thingy and would often times recover the next few days. Now I find Mr. Markets website and I see from spikefader that what I’ve been playing with really exists. Now I need to try to understand the waves both major and minor. I started using this fib grid thing and started to see how sometimes stocks would bounce like a ball off the fib-line. One of my biggest challenges was admitting when I was wrong and trying to get another nickel out of the position and end up losing a bunch of hard earned cash.

I bet nobody on this forum can relate to some of my blunders, but that’s life ya win some you lose some. Maybe it is how we lose that really prepares us for our wins. I don’t know, but as said before everyday money is being made and lost in this crazy thing called the market.

Webs- your doing fine and may your dreams come. It does only take a few winners to make a good year. If you jumped out of a position too soon, know biggie. I still jump out to soon, but like you herd before you won’t never go broke taking a profit.

[mrmarket]

Web....keep it up! You're doing great with your trading and your insights. You are also really funny. I piss my pants so much reading your stuff, I have to switch to Depends.

[spikefader]

Go Webs!! You're doing well and it's funny watching your antics.
It's a good thing that you can write a list of things you've learned and reflect on them. It's OK to make mistakes. Just learn from them and move on. I am certain you will develop your own style and it will be successful. To quote Runner: 'Bingo, a light bulb went off'. That's what will happen to you if you give it time. It's what happened to me......the light bulb went off that I should buy at support - when others are selling, and sell at resistance when others are buying. Whether channels or FIBs or volume by price or whatever, as long as you aim to follow BASSAR, you will give yourself an EDGE. And if you don't know what your edge is right now, you don't have one! And without an edge, you're in trouble, since you're going up against a world of smart traders that may have a great edge, and have been trading that same successful edge for years!
If I may suggest something that may help you: In this journal, why not papertrade a few setups (assuming you spot good trades), and post your entries and precise plan....be accountable. You may find yourself acting less on emotion and more on logic!
Good trading pal!

[Websman]

Web....keep it up! You're doing great with your trading and your insights. You are also really funny. I piss my pants so much reading your stuff, I have to switch to Depends.

I pissed my pants one time, but then it started raining, so everything turned out ok.

[spikefader]

I pissed my pants one time, but then it started raining, so everything turned out ok.

LOL Webs. I just saw your new signature! lol hilarious. How to be like a Vulcan when really, as humans we're a pack of highly struck knuckleheads!

[Websman]

LOL Webs. I just saw your new signature! lol hilarious. How to be like a Vulcan when really, as humans we're a pack of highly struck knuckleheads!

Yup...I thought that was appropriate.

[lak]

Great thread!

[Websman]

I just got through hooking my Sirus Xact Stream Jockey in my truck. My initial reaction is...This thing really rocks!!! I went from the basic local channels, to 120 extra channels with a wild variety of content. All coming through my FM radio. It's real easy to hook up.

My radio listening experience will never be the same. Thanks go out to Sirius for the extra $$$ in my pocket and the new future of radio.

Webs...

[Websman]

While on my way to work, at 4:30 in the morning, I was listening to Jim Cramers radio show. I like Cramer. He's very entertaining, and besides, what else is on at 4:30 in the morning? I like the way the veins pop out of his forehead when he gets excited. Then he starts spitting and yelling in that obnoxious, sqeaky voice of his. It's thrilling! I also like to watch him on Kudlow and Cramer. Kudlow is like the straight man in a comedy act.
I wish I could get as excited as Cramer. I've been told that I have a dry personality. What is that suppose to mean??? Dry... could mean a lot of things. Maybe they're just jealous, because I'm so good looking and have a lot more money than they do....
Anyways, back to my story. I was listening to Jim Cramer when he said that he is big on Lucent (LU). Lucent? Did I hear that right? Is Cramer in his right mind? I thought to my self, "What would Mr Market think of Lucent?".
This is the second time I've heard him promote LU, yet it keeps tanking. Does Cramer know something that we don't know or is he getting paid to pump a stock? Any opinions on Jim Cramer and his madness?
Is Cramer an entertainer or a true stock guru?

Webs...

[Websman]

It's amazing what going to prison can do for you. Martha's stock is shooting through the roof.
Martha might be a convict, but she's going to be huge!
I wonder if she drinks buck and hides a shank under her bunk??? hmmm...Don't drop the soap Martha...Hahaha!!!

[Websman]

I see I've had over 600 views already! I'm going to be famous! I should charge for this service I am providing. I think I'll set up a paypal account. I think Mr Market has tried this. Who wants to donate to the cause?

[Jaws57]

Webs

1. I ordered a subscription to IBD, thinking it would help...it didn't. I'll just buy an occasional issue from the newstand. My conclusion-IBD sucks
Webs...

I came to the same conclusion myself, IBD has a lot of good info but the price is way too high for what I got out of it. I also buy it on the newsstand every so often. I lost more money than I made on trying to time the breakouts. I am convinced that market makers take advantage of the 7-8% stoploss rule. I seems I made money when I jumped in early way before the "pivot point".

I am a fellow SIRI long and I will remain so until I get convinced that Sat-radio wont work.

Jaws57

[Websman]

I came to the same conclusion myself, IBD has a lot of good info but the price is way too high for what I got out of it. I also buy it on the newsstand every so often. I lost more money than I made on trying to time the breakouts. I am convinced that market makers take advantage of the 7-8% stoploss rule. I seems I made money when I jumped in early way before the "pivot point".

I am a fellow SIRI long and I will remain so until I get convinced that Sat-radio wont work.

Jaws57

Welcome fellow IBD basher and Sirian Long!
I have no doubts that Sirius will be huge and may even dominate XM. They have too many thing in the works. I'm already loving my Sirius radio.

Rock on Jaws!!!

Webs...

[lak]

While on my way to work, at 4:30 in the morning, I was listening to Jim Cramers radio show. I like Cramer. He's very entertaining, and besides, what else is on at 4:30 in the morning? I like the way the veins pop out of his forehead when he gets excited. Then he starts spitting and yelling in that obnoxious, sqeaky voice of his. It's thrilling! I also like to watch him on Kudlow and Cramer. Kudlow is like the straight man in a comedy act.
I wish I could get as excited as Cramer. I've been told that I have a dry personality. What is that suppose to mean??? Dry... could mean a lot of things. Maybe they're just jealous, because I'm so good looking and have a lot more money than they do....
Anyways, back to my story. I was listening to Jim Cramer when he said that he is big on Lucent (LU). Lucent? Did I hear that right? Is Cramer in his right mind? I thought to my self, "What would Mr Market think of Lucent?".
This is the second time I've heard him promote LU, yet it keeps tanking. Does Cramer know something that we don't know or is he getting paid to pump a stock? Any opinions on Jim Cramer and his madness?
Is Cramer an entertainer or a true stock guru?

Webs...

I actually listen to his show quite often as well and a couple people I know get his Street Alert mail. They forward them to me now and then. I picked up some LU about a week or two before Cramer was getting red in the face with excitement. I am up on it, but it keeps getting hammered. I am long the stock, but both NT and LU keep getting hammered.......... The sector seems to be taking a beating. I was going to dump LU last week at a higher price but decided to hold until after the first for tax purposes........
I think LU can go up another .5 but that could be a long, long time.........
Honestly I would stay away. ha