It has been brought to my attention that a false impression has been drawn about 12631. The consensus is that we are all about stock picking. After all, we highlight the great stock picks that BFTO almost daily. This is how I and others have promoted it.
So I feel the need to kill that idea right now. 12631 is not about stock picking. The great stock picks have been the upshot of what we are actually doing which is technical analysis. Even if you are a fundamental investor, it doesn’t hurt to learn some technical analysis.
ChessNwine and I have pointed out many times that if you are going to buy a stock based on fundamentals for a long term play, you might as well find the best entry using technical analysis. Otherwise, you are just guessing at a bottom and getting into a stock because you believe it to be undervalued, which fundamentally makes sense, but you could easily find yourself sitting in a position that is not ready to move or that hasn’t bottomed yet. As you ride it down into the abyss, your capital is tied up over that period of time unnecessarily.
A little technical analysis would do you good.
If you are already basing some of your trades on technical analysis and wish to upgrade your game, Chess and RC are wonderful teachers. The education there is well presented and comprehensible and includes charts, videos and downloads.
Jusy sayin’.
Word, Queen. Word.
Agree TW. I have learned so much and the results are satisfying! Excellent post!
I feel there is no better place to learn how to trade then 12631. Between Chessnwine and RajinCajun you can learn to be a better day and swing trader. The nightly market recap shows you how the current market can effect your trades. Thewife who wrote this post is always there to help anyone with her vast knowledge and cheerful sense of humor. There are many other Pelicans who are willing to do the same. No question is considered dumb or goes unanswered. Yes they have awesome stock selection but you all know that. I however need help on what really makes a trader. That is what Chess and RC teaches. When to get out of a trade with a profit. If a trade fails how to get out with a small loss with your confidence intact. How to position size. Someone asked a question about stops. Before long we were presented with a two part video on the subject. I know 12631 is what I need to be a better trader. I’m glad I’m here. Thank you thewife for the excellent post, as always.
@TW – Thanks. I’m still looking forward to the fundy piece when you have time. Trade first write second, right?