Perils Of Taking Stock Tips

By Author: Hugh G.
Total Articles: 4
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Well meaning friends and advisories often send out specific picks as to what to trade and when. There are inherent dangers in such programs, despite everyone's best efforts. First, even with a Twitter, your mentor makes the trade, sends you the details and you must receive it. Then you act on it. Most often, (ignore the time frames on the chart) you miss the move simply because of the time delay in this process. Imagine getting the message to buy long based on the chart below. By the time you get it, the trend reverses. In good faith, you get in and quickly realize you're now in a 'hope and hold' situation. The move is over.

Secondly, and I stress this endlessly, become the expert. YOU should learn how to read the technicals, make the assessments and determine the entry and exit points. As traders, you are not merely mechanics clicking the keys on others' whims; YOU need to be able to read the raw data and form your own determinations. Candlesticks are raw data. So are macd's, stochastics and all the other input items that entail a trade. By relying on others - regardless of who they are - you are putting your faith ...
... and confidence in someone else's interpretation of what the markets are doing. Is this not the very reason you got into trading your own accounts? Did your financial guru not squander away your money already?

I teach trading, from beginners to seasoned professionals seeking solid strategies to mastering the psychology of this business. Regardless of whether you enlist my services or find the knowledge elsewhere doesn't matter; the important point is that you need to learn to master the charts yourself. Put the effort in, the time and even the financial investment to learn. Once mastered, your financial woes will be a distant memory!

Good trading!

~ Hugh
Head Trader and Trainer
estockoptiontrading.com

Invest in yourself before the markets. Just as a coach is to an athlete, let Hugh coach you to better trading profitability.