Something too Ponder about Investments; Other Opinions more than welcome!

[rjohnla]

Ok, I give! If interested take a look at this site, lot's of free info: Elliott Wave International: Expert Market Forecasting Using the Elliott Wave Principle

To be somewhat helpful (hopefully), try this if intereted: Learn the Why, What, and How of the Elliott Wave Principle - 3 Free Videos from Elliott Wave International

 

[growing_older]

I have had several friends who were successful with trading strategies using technical analysis, for a while. But every single one of them eventually lost most of their stake. The few true believers among them claimed it was due to their missing a pattern. The majority just became disillusioned and don't try to actively trade anymore.

If your system is working for you, I would still caution healthy skepticism. The human brain is very optimized to see patterns, even when they are not there, so it's possible to be seduced by success that isn't based on what you think it's based on. Be careful.

 

[rjohnla]

Hi & thanks, yes you are correct. There are pattern rankings and if certain technicals indicate you must abandon the current pattern, but maybe not the trend. Think I said when started "it's complex", but hey works for me. Just trading rules to follow and they are not easy, e.g., don't let your emotions get in the way and see things that you want to be there that are not. Big hurdle. Fyi, ex-Marines do well because of the level of discipline they have learned and can keep emotions under control.

 

[rjohnla]

I don't just use one source, this is another good one: Money and Markets

You can also for a fee see how your bank is rated. Weiss rating are widely recognized as some of, if not, the best. Bank should be rated A to be even considered.

 

[rjohnla]

Last, if interested, 3 books to consider, 2 are classics, last is relatively new, but very interesting to say the least: 1) "Manias, Panics and Crashes: A History of Financial Crisis" by Charles P. Kindleberger (1st edition 1978; 2) "Extraordinary Popular Delusions the Madness of Crowds" by Charles Mackay (1st Edition 1841); and 3) "The Black Swan - The Impact of the Highly Probable" Nasssim Taleb (2007). Enjoy what you like. All the best.

 

[jon-nyc]

I keep getting confused by 'too' in the title, then I realized maybe he meant to say "Something too ponderous about investments".

 

[rjohnla]

Hi jon-nyc, no it's my fault, I'm a terrible typist and after I write something I'll revise and then the sentence structure is wrong or confusing (just look at the threads). Seems it's too arduous for me. Actually, it's boring, I'd rather be doing something with more complexity, well I pay for it when there's confusion. I should take more care. Just like my 1st post in the thread, I wrote it very quick and revised and used shorthand words covering a vast array of information. The title should have been: "Something to ponder about investments, other opinions more than welcome" As you see, what I asked for, I got. Anyhow, all the best and thanks. (I hope this is typed right?)

 

[rjohnla]

I am making this a separate post because I tried to edit the last post two times and then did not push the right button to post added text. Just, fyi, at work I am a regulatory compliance officer and have to type regulatory advise and guidance and send to internal lawyers, CFO's, as well as external legal counsel or the USG. I am a 2 finger typist, with nerve damage in my right arm and hand (c4-c7 in spine fused). People at work proof read for me or just ask if they can type it while I dictate. One women told me 'if I had those hands, I'd cut them off'. It is as it is, after this thread, my right arm is numb now. No sympathy required, just to provide some insight if you have problems understanding a post. The 1st in the thread I typed vary fast using short cut word structure and covered a vast array of investment topics. I asked for opinions, and got what I asked for ;-)