Copy Cat or How to Use a Successful Trading System
How many books have you read about successful traders? How they did this or that and made a fortune and are still doing it. You say to yourself, "I'm going to follow his method and get rich".
So you subscribe to his newsletter (they all have one, $250) and buy his course on CD Rom ($495)and next time he is anywhere near you attend his seminar with a $500 discount for only $2495. You do understand you must do exactly as he does and you try your best to follow the directions, but for some reason you still are not making money. At least you are not losing as much as you did before (I hope).
Go look in the mirror. You are not Richard Russell, Richard Wyckoff, Bill O'Neil or any one of the great gurus of the market place. Each one of them has devoted every minute of his life to understanding the market. Each one is very successful and each one has a completely different way of approaching trading. Can you copy any one of them? It is very doubtful.
These great teachers can help you, but you have to develop your own method and style of investment. Whether it is long term or short term it must be something with which you resonate. When I was a floor trader there were a thousand guys trading and I know there were a thousand different guide lines. No one had the same buy or sell signal. If they all followed a pat program they would all be buying and selling at the same time so it could not work.
I have stood in the pit and watched the same person offer to buy and when there was no seller he would then offer to sell usually at the same price. Yes, he was scalping for one or 2 ticks, but he knew what he was doing even if it looked strange. A friend of mine could arbitrage by standing in the middle of the gold pit and hit buys and sells that were off by one or two ticks because they could not hear each other due to the noise of other traders who were shouting their offers.
You can look at the basic trading style of one of the "greats", but you must adapt it to your method. I have not seen anyone able to successfully copy a trading program exactly. You will improvise and find a slightly new approach that becomes "yours". It then becomes part of your cellular being. It works for you and probably won't work for anyone else.
If the programs the hype masters are selling work so well why aren't there more rich traders? And if the programs are so darn good why are they telling you?
To be a successful trader you can't copy cat an existing program, but you can take a basic trading vehicle and modify it your own plan. Turn that cat into your own tiger.
Al Thomas' book, "If It Doesn't Go Up, Don't Buy It!" has helped thousands of people make money and keep their profits with his simple 2-step method. Read the first chapter at http://www.mutualfundmagic.com and discover why he's the man that Wall Street does not want you to know.
Latest News
![]() Telegraph.co.uk | CIC Head Wary of Investing in Western Banks Wall Street Journal - Lou Jiwei, who head's China Investment Corp., said the uncertainty surrounding Western banks and the policy decisions that may determine their fate makes it ... China Slams Western Financial Firms CIC weary of Western banks China's sovereign wealth fund to avoid western financial firms: report |
Dividend Investing for Monthly Income Seeking Alpha, NY - After you have selected the dividend growth stocks that fit your selection criteria, it is time to research their payment dates. Most dividend investors try ... |
Is Real Estate Investing Our Best Shot at Wealth? Seeking Alpha, NY - 91 percent of homeowners surveyed by real-estate-services firm Realogy Corp. thought that owning a home was the best long-term investment they could make, ... |
ETF Investing: 5 Pitfalls to Avoid U.S. News & World Report, DC - By Kirk Shinkle Security, transparency, low costs: It's the mantra of the exchange-traded fund industry, and by and large, most ETFs do live up to the ... Invesco PowerShares Announces Zero Capital Gains Distributions for ... Managing a Portfolio in a Bear Market Building a Portfolio Using ETFs |
Toss your stock-investing assumptions, Bill Gross says Los Angeles Times, CA - So says Bill Gross, noted bond guru at Pacific Investment Management Co. in Newport Beach. Perhaps not surprisingly, Gross argues that it’s “better to own ... |
Criterion Investments Scoops Canadian Investment Marketing Award ... MarketWatch - The same applies to investing in long-term growth themes, and Criterion built the case for why now is time to get ahead of the curve by investing in water ... Making a bet in a free-fall market |
![]() Earthtimes (press release) | Global Investing Roundups Money Morning - The world’s biggest nuclear utility company, Electricité de France SA will offer as much as $6.5 billion for assets of Constellation Energy Group, ... Delayed quote data |
![]() CBS News | Research and Markets: Wall Street's Buried Treasure: The Low ... MarketWatch - BILL KRAFT, trader, speaker, trading coach, and author of Trade Your Way to Wealth "Investing without Wall Street's Buried Treasure is like trying to live ... Listen Up: It's a Great Time to Be an Investor Docile Dow doping down Global Markets in Review: Winning Streak for Equity Bulls |
Ziegler Exchange Traded Trust Announces Change to Previously ... MarketWatch - Prospective purchasers of the NYSE Arca Tech 100 ETF should consider the investment objectives, risks, charges and expenses carefully before investing. ... |
AFP | Recessions Are Perfect for Currency Investing Seeking Alpha, NY - One thing that I love about the currency market is that there is always a currency or two going up at all times, even when stocks and commodities are ... God Bless America, Land of Free Lunch Yen Gains on Concern Recession Will Spur Repatriation of Funds Weekly Forex Wrap-up |
Resources
-
No Money Down - Creative Real Estate Investing!
Learn how to control real estate Without credit checks and no money down! You can Buy With No Credit!
-
real estate foreclosures- home69
Proven real estate Investing course specializing in foreclosures and pre-forclosures.
-
Real Estate Investing
How To Start And Run Your Own outrageously Profitable Fixer-Upper Business In As Little As 45 Days, even If You Can
-
Foreclosures - Real Estate Investing - Short Sales.
Learn about foreclosures and real estate Investing techniques like short sales and subject to financing
-
Online Trading for Financial Freedom - stock daytrading strategy.
Stock index trading strategy for beginning and experienced traders alike.
-
Real Estate Investing - Foreclosures
How To Start And Run Your Own outrageously Profitable Fixer-Upper Business In As Little As 45 Days, even If You Can
-
Real Estate Investing Course for Profits in Investing
Real estate Investing course reveals proven real estate Investing strategies using Lease Options and Creative Financing where you can earn big money Investing in real estate with no down and no credit
-
Make money stock trading, day trading, Investing and trading options like the pros!
Turn $200 into $4,630 in 30 days by trading options online from your home PC. Step by step instructions for novices or investment pros. Make money stock trading, day trading, Investing and trading options like the pros!
-
Make real money Investing in real estate by Lou Vukas
Lou Vukas gives you the insider secrets to making real money in real estate regardless of your credit, finances or location at realestatefortunes.com.
-
Real Estate Investing
eBook on Real Estate Investing and Real Estate Marketing


