I truly believe that in order for both success and longevity in the market one needs to specialize. Having a systematic approach to the markets is a proven winner. I’ve taken the time to round up some of the systems that are out there to help you decide. Enjoy!
There is nothing quite like making your fortune in the markets. No research, hard work or data is required with this system. Simply throw your hard earned capital behind a company that you may or may not know what they do (doesn’t matter anyway). Then, simply pull up a chart while listening to the pundits as you will the stock in your favor. The key to this system is that you must do it all day long. What could be easier?
If you like buying at the top or selling at the bottom then this system is for you! Focus on mainstream media paying special attention to the names that are mentioned by multiple pundits (TV, internet or print) and pull the trigger. There’s nothing quite like piling in to a name that your dentist, kid’s teacher and barista are all long. Safety in numbers.
Once you clear the dust off this system you’ll notice that the prior results were indeed amazing, just as the salesman alleged. Of course the market has changed, but that’s OK. The weekly newsletter you receive will explain away, in great detail, every single loser. Fear not! The next system has improved upon the current one and you can have access for only $149.95 more per month. Sold!
140 into 10K:
Yea, we’ve all seen the tweets that somehow caught the bottom or sold the top. If you watch the stream closely you can see the few select traders out there that have a knack for hitting these setups every single time. Simply follow their feed and you too can retire in a few years.
Churning & Burning:
If you truly love your broker (remember that mouse pad they sent when you opened your account?) then you want to get on board with this system. Tracking over 167 indicators, which include every sentiment and seasonality statistic possible, this system is THE Holy Grail. The signals are so frequent though that you feel as though you’re playing a video game. Is that a bad thing though? Please keep in mind that past returns don’t take into account commissions.
Easier said than done:
This is the one system that very few have found success with yet I thought I’d mention it anyway. Understanding yourself, along with the biases and baggage you bring to the market, is the first step. Many skip it though and start immediately throwing money at the market with one of the systems mentioned earlier. The second step involves homework, sometimes daily, as it takes time to find quality setups. Most choose to create short cuts though, which leads to lower probable trades, as you have to devote more than 15 minutes of your time.
We’ve all come to the markets for various reasons, money being the common thread, and expectations. And more than likely we’ve all taken some brutal losses as well( I know I have). I’ve been here over a decade and have seen many budding market participants get chewed up. Some lasting only a few months while others have held on longer before eventually leaving broke and jaded. However, I’ve also seen those that found their niche leading them to success and longevity in the markets.
I truly believe that knowing yourself is the first step to finding your niche. This belief of mine is what lured me in to the financial industry and why I’m still here. It’s the very reason I created the MAP. Though knowing who you are is only the beginning.
Once you have an idea of what you bring to the markets, bad and good, the real work begins. Just like a real job (ha!), the markets require sweat equity. That may mean numerous hours and late nights spent poring over data or reading research. It’s not easy.
It’s not easy because it takes time. Ask anyone that has found success and longevity in their career, financially related or not. They’ll tell you it takes hard work and dedication. We all know this yet so many think trading is different. It’s not.