Wednesday, August 08, 2007

Day trading the S&P and what to do first!!!!

The question that comes up the most is how do I do do I make money at this? What books should I read? What workshops should I attend? And yada yada yada.....

There are only a couple things you really need to know.
1. Have you or do you know anything about money management, size management or trade
2. Do you keep a log and print out our charts at the end of the day and go over them?
3. If you do number 2, then what are you looking for and why?
4. When you get in the "right" trade do you for some reason end up either breaking
even or just a small gain and leave a lot of money on the table?
5. When you get in the "right" trade but it goes bad the second you are confirmed and
you get your head handed to you and don't know why? You can't figure out what you
missed.....well it ain't another fricking indicator.....
6. At the end of the day, you are mentally exhausted, ticked off and took X number
of trades and didn't make a dime...and wonder WHY me Lord, WHY ME?

Well, have I got good news for you, there is an answer and it's not using the Woodies CCI Club 28 setups, it's not buying another indicator or another piece of software and it sure ain't hanging out in 5 different chat rooms looking for someone to follow....

LEARN TO USE A FISHING POLE.....and let's go fishing!!!!!!
Details of Trade-A-Long this weekend......hang in there....everyone will receive an email that asked for details......


Anonymous said...

Got INK!?

Anonymous said...

It's amazing how different the charts look after 4PM than they do during the trading day. Where was that setup when I needed it?

Marking up the charts during the day and going over them later is the best advice I've had yet.


Ralph Schwartz said...

I see a lot of woodies cci comments on this blog. You may have already seen this, but I thought I'd pass it along. I was in that room too. This was an article I first saw on ezine, but copied the link from the web site. You might find it interesting. I'm not a spammer. Hope it's ok to post the link. Here's the link: