14 Mar 2008 02:22:53 | Mark Crisp
Hi, Mark Crisp
Enjoy your long weekend. I am about to take a few days vacation
my-self.
Everyone seems to be worrying about what direction the stock
market is going....in a word DON'T. Don't even concern your-self
with the day to day "noise" There's absolutely nothing we can do
about where the stock market is going to go..so don't waste your
time on it.
What-ever you do simply follow price and volume. ESPECIALLY
volume. That's the ONLY indicator you need. Don't do what people
"say" follow that they actually do.Especially the really big
volume. Institutional or big individual buying.
Look at great stocks like VPHM, NTRI, BCON where we have
profited from massively and continue to do so. No following
advice. No watching the day to day ticker here. Simply buy them
and hang on for the 400%+ moves they give you.
"THE BIG MONEY IS IN THE BIG MOVES"
Why do most people lose in the stock market? In one word
"emotions" They trade too emotionally.They react to the day day
corrections. They take profits too quickly and seek
advice..WRONG!
Look I made a trade is TZOO last year. I bought around $45 and
then watched it FLY upto $76....boy was I tempted to sell. But
being a disciplined Momentum Trader I simply HAD TO FOLLOW MY
RULES. HAD TO. FOLLOWING MY RULES IS MORE IMPORTANT TO ME THEN
MAKING MONEY!
So I then watched it fall to $50...Yep I watched $20+ in "paper"
profits disappear. Not a problem as to become a master trader
you have to be willing to give back a fair portion of your
profits in the HOPE of much bigger profits (write this down!)
And then back it zoomed to over $100. I finally got out about
$90.
My point here is you can't have the conviction to do this kind
of trading unless you have a proven system. Rules you are 100%
happy with. You must be disciplined and whatever you do..NEVER
listen to any outside advice. I'll bet my life everyone was
screaming sell TZOO at $70....$60 and $50....
This kind of trading leads to massive % moves in stocks. It
stops you from over trading as well. Have you ever bought a
stock. Made a quick 20%+ profit in it then sold. Patted
your-self on the back and said "a job well done" You then go and
trade another 2 stocks and lose 10% on each one. giving back al
your profits. Now the real sickener is the stock you sold out of
for that quick 20% profit in is now up 100%......And you feel
sick. You could have made much bigger profits by simply hanging
in there. Do NOT OVERTRADE.....another big reason people lose.
Enough from me. I hope you at least think about what I say here.
Stock trading is unlike any business in the world. It's not
about "work" as such but about managing emotions and trading to
a set method and being true to that method. Many people struggle
here....professional money managers included.
Master this and the "world is you oyster" It's your call.
Sincerely
Mark Crisp
About Author :
Mark Crisp is the creator of the Momentum Stock Trading System
Making stress free huge profits trading in stocks only 4-8 times
every year. http://www.stressfreetradin
g.com