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Carlos, get a copy of the book "Technical Analysis from A-Z" by
Steve Achelis. Its an excellent book on explaining TA, key indicators
and how they are used. Secondly, make a decision on the stocks you
own. We should not be advising you, and besides, you are interested
in learning and using that learning. A decision you should make is
whether you ought to close your positions or not. Clearly you don't
have a trading strategy and without it, only luck can help you.
Download data on the stocks you own.
Next, learn to set up the MS backtester correctly with a one day
delay to buy on market open, and try the different trading systems
that came with your software. Do you like any of them?
Alternately, apply one expert system after another on the three
stocks. Do you like the looks of any of them? Do the buy - sells seem
at correct points? That will point you in the right direction.
If I had to do it over again, I would have done a lot more manual
testing of systems and simulated trading without money on the line
than with money. The only time that might not be true is in a strong
bull market where you could win anyway just leaving it in.
--- In equismetastock@xxxxxxxxxxxxxxx, "carlosarturosierra"
<carlosarturosierra@xxxx> wrote:
> Preston,
>
> Thanks a lot for your prompt response
>
> The positions are the following:
>
> Date Symbol Price Qty Type
> Jan 5/2005 SUNW 4.69 5700 Long
> Jun 3/2005 YHOO 38.76 500 Long
> Aug 2/2005 EBAY 44.80 800 Long
>
> I would like to learn which kind of indicators apply for this stocks
> in order to take a correct decision.
>
> Please let me know any suggestion or recommendation about it.
>
> I really appreciate your help in this issue.
>
> Regards,
>
> Carlos Sierra
>
> Carlos,
>
> TA is not a quick study. You will need to devote a good bit of time
> to learning it correctly. For now close your trades if they are
> losing.
>
> Next, tell us what 3 positions you took. Maybe we can give you some
> insight into what's going on with them.
>
> Finally, get yourself some good resources...books that explain TA.
> There are any number of good ones available and I'm sure several
> members of the group will happily share their thoughts as well. As
> you learn the methods paper trade them until you are comfortable
with
> the method. Remember that just because an author says his system is
> the cats meow or the holy grail don't believe it until you've
checked
> for yourself.
>
> You should concentrate on system development and money management.
> Once you have conquered those aspects you can look into getting back
> into the market.
>
> regards,
>
> Preston
>
> --- In equismetastock@xxxxxxxxxxxxxxx, "carlosarturosierra"
> <carlosarturosierra@xxxx> wrote:
> > Hello Everyone,
> >
> > I have been making trades for two years in a manual format using
> > fundamental analysis but rigth now I am starting to use Metastock
> and
> > I think it is better to take decisions base on technical analysis
> and
> > avoid emotional decisions.
> >
> > Right now, I have opened three long positions and all of them are
in
> > the lost zone.
> >
> > I would like to use this powerful tool in order to choice the best
> > time to sell them and try to have profit. So that I want you can
> coach
> > me in this beginning process.
> >
> > I look forward for your advise.
> >
> > Regards,
> >
> > Carlos Sierra
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