Using RTT

Today is my first day using RTT. I can clearly see that some of my extensive research has been more than cut in half. The days of scrolling back and back and back on my charts have been minimized. I tend to look for trades that clearly show historical gains during the window of time and season of the year ,so that is a piece that I can clearly find on RTT. I am excited about having access to so much information that will help me become a better trader, but the one thing that we have to keep in mind is, there is also an art to becoming a good trading. We can have all the technical tools available, but if we do not have some basic idea of why the market moves in a specific direction, we will not reach our full potential in this business. Unfortunately, I still think the technical aspect of trading most important. My goal is to continue learning from people like yourselves, but most importantly, I want to become a good trader. I have recently minimized practicing and started trading real money. I have far more good trades than bad ones, but the most important point is, I know when the trade is not going in my direction, so I get out and take the small loss. I also tear it apart and figure out why the trade went in the wrong direction. Hopefully this site will become more active and become a resource and place to communicate with other traders.

Welcome rookie30! Good post - totally agree.

RTT is my starting point for potential trades, but I wouldn't trade using earnings or seasonal trends alone. I have to see technical evidence of the stock moving in the same direction of the trend and plenty of room to run. I have found using the RTT trends plus some simple techincal analysis produces a high percentage of profitable trades! The key, as you said, is minimizing the losses when we recognize the trade isn't working. I have found that small losses are good. Big losses slam not only your account balance, but your confidence - I learned that the hard way years ago.

trendtrader1,

Thank you so much for the words of encouragement. The information provided by RTT can provide such a relief that one can become dependant to a point that 90% of trading decisions are based on the trend analysis. I simply cannot see how I will not become much more accurate in my trades based on the trend information available, but as a new real money trader, I have to not allow that information to act as a huge crutch.

I am presently anticipating a trade, but my technical indicators are not showing me an entry, nor is the market performing the way I anticipated. RTT is showing an uptrend 9 of the last 10 years during the next 5 days. I simply do not see it right now, so I am going to sit on the piano and wait for an entry, then make the trade. I really hope with my knowledge, patience, and precision, I will become a better trader with the assistance of the trend reports. Your comments have really helped me realize that it takes more than a trend analysis to execute good trades. I want to make money, but I most importantly want to trade well.

rookie30 Wrote:
-------------------------------------------------------

>
> I am presently anticipating a trade, but my
> technical indicators are not showing me an entry,
> nor is the market performing the way I
> anticipated. RTT is showing an uptrend 9 of the
> last 10 years during the next 5 days. I simply
> do not see it right now, so I am going to sit on
> the piano and wait for an entry, then make the
> trade.
>

Excellent - that's exactly right. And if you never get a good technical entry, just skip the trade. There are plenty of good trends published on the site to choose from...don't force a trade if it isn't there...just move on to another trend.

Good morning trendtrader1,

Until recently, I have not studied or done much research regarding earnings. Wow! If a high volume stock meets earnings expectations, it can "sky rocket". I watched what happened to Google when it did not meet earnings, and now I am watching overnight trading on Apple after it met earnings. Talk about a drastic move.... I simply could not take a chance staying in a stock through earnings. That would be too risky for me.

I really like options. I am a new money trader, and options work extremely well for me. It is pretty simple. I enter a trade with full anticipation of it going up within the next day or so. If it goes below my 10% window, I simply get out. Before entering, my indicators always tell me it should go up within a day or so, but if it drops strong in the opposite direction, I live to trade another day. I do not have the funds to stay in and take a chance of losing too much money. I also do not trade more than 40% of my basket at one time (one trade at a time for me).

Question: Are you using several stocks that are offered through RTT to trade? If so, how does that work for you? I am falling in love with a lot of stocks (15 or so) that are researched by RTT. I am starting to practice trade several stocks through RTT by using a simple process. If it works well, I might alter my trading strategy to a degree and trade a little more often by using more stocks to trade. Thanks for any help or guidance you have.

I never stay in a trade through a company's earnigns release either. It's not for the feint of heart! I customized my RTT reports to not even show me the Seasonal Trends if they go thru a company's earnings release.

I have 7-8 stocks that I watch the most. But since I started using RTT, I am open to any stock that has a great trend and the chart that supports the trade. I use the "Best Trends" page each day to look for potential trades - checking the charts of those stocks and wait for trend + indicators.

trendtrader1,

Thank you very much!
I appreciate you sharing some of your secrets that will hopefully help me to become an excellent trader.