I am not going to cast false pretense. I am not the trend-trading guru. I am not a leading expert. I am an individual who has set out to learn as much about stock trading as I can; learn what it takes to implement a strategy; and strive to be a successful trader (whatever that may be). So, with the caveat clearly stated, I want to go ahead and share what I have learned. Provide a starting point for those who are like me – just getting started.
If you are on the search for the Holy Grail of stock trading, stop your search. You won’t find it here. But, you won’t find it anywhere else. There is no Holy Grail. You can leave Camelot, recruit the greatest knights (and Sir Robin), clap your coconut shells together, fight the Black Knight, and match wits against the “old man from scene 24,” but your quest will be unfulfilled. Those who pronounce the magic formula, do not have it. That is not to disuade you from your personal quest to master stock trading. It merely is a realization of fact. You must find your own path to success. Draw upon the lessons of others, but follow your own route, for there are many different paths to trading success.
Success, though, will not come easy or without a price. Stock trading, I have learned, is not easy. There is likely no one who has not suffered serious setback. Whether it is the famed Jesse Livermore, Nicolas Darvas or John Henry, all have made and lost fortunes – all have been hailed for their success and ridiculed for their loss. It is the simple nature of stock trading: sometimes you win, sometimes you lose. Accept this principle first and foremost. The sooner you can come to terms with loss, the greater the likelihood of success.
I cannot, in good faith, preach doctrine. I have not yet fulfilled my own quest. But I can, and will, provide the story of my search and, hopefully, help you along yours. Stock trading, I have found, is, ironically, exhilirating and boring, but always challenging. While you can apply the principles of the past, the future is unexpected. As you begin your journey, remember that there is a lot to learn; there is no one path to follow, but every path will be wrought by challenge, set backs and discouragement. With the proper mindset, tools and motivation, I do believe you and I can succeed.
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I am an amateur trader and investor with over 15 years experience in the stock market. I was bred to be a fundamentalist and followed fundamental analysis until 2009. Following the 2007-2008 bear market, I began to shift from a buy-and-hold strategy to trend-following techniques.