Attention Trading Enthusiasts: ‘The Traders Journal’ Is Here
- Posted by JC Parets
- on April 14th, 2012
I’m really excited to hear about a new blog called “The Traders Journal” brought to us by Stockcharts.com. As readers already know, I’m a big fan of anything John Murphy. We’ve been witnessing the growth of the Stockchart’s blog network for years. But I think the addition of technician Gatis Roze has the potential to be something special.
He caught my attention right away using baseball metaphors in his first post – I’m already hooked.
Here’s a taste from The Traders Journal:
I touched all four bases in my winning trades:
- First Base: I bought when the market was trending up.
- Second Base: I bought into one of the top two performing sectors.
- Third Base: I bought into one of the top performing industries in those sectors.
- Home Plate: I bought the best stock in the industry group.
The bottom line is simple. Focusing simply on stock selection for buys may make for scintillating conversation at cocktails parties but it is unlikely to put real money into your pocket. It’s like running the bases backwards. It’s good for a laugh but the scoreboard will ignore you. My interest is – and always has been – how to buy properly in order to increase the probability of taking money out of the market. I’ve had Nobel Prize winning professors lecture me on truly significant methodologies which are academically interesting but can’t help me make any real money. I’ll pass on their theories. Please review the chart below showing how you, too, can touch all four bases. I have chosen a stock that should be familiar to you. $AAPL
Needless to say, I’m excited for the trading lessons, I’m excited for more sports metaphors, and I’m excited for Stockcharts.com. Nice pick up guys.
Mr. Roze, good luck. Can’t wait for future posts.
Full Disclosure: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities, please see my Terms & Conditions page for a full disclaimer.blog comments powered by Disqus
J.C. Parets is the Founder & President of Eagle Bay Capital, LLC. He earned the Chartered Market Technician designation (CMT) and is a member of the Market Technicians Association. More
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