Love the reports/comments that you share on MC Stock Charts, YouTube and X. I've been trading the market the past 2.5 years after selling a business in Las Vegas. My "success" rate was fairly blah until I started reading William J. O'Neil's books. Somehow I came across your posts on X and have been following your YouTube videos, etc. the past six months. Definitely has been a game changer when combining your wisdom with my MarketSmith subscription, ongoing studies. Thank you for your work and educating a "newbie".
While I continue to learn, i do have a questions for you. What resources do ou rely upon for breaking financial market news, IBD, Financial Times, X (certain resources followed) or? I ask because you always see to have the latest news when sharing your YouTube videos and "latest reports".
Sending you the best for the new year ahead.
Thank you for your kind words!🙏
Congratulations on selling your business!
I use a variety of resources including Bloomberg and Barchart which are the two I use most. I am a subscriber to Investors Business Daily but do not visit that site very often. Their product has deteriorated sine Mike Webster left and they sold to William O'Neil's rival, the Wall Street Journal. Twitter can sometimes be a good source of information depending upon who you follow. My brokerages eTrade and Schwab often have headline news throughout the day.
You mentioned that you are a "newbie" and that is fantastic as we all must start somewhere. It took me a long time to figure out the most important aspect in making money in stocks is to understand myself. We must figure out what we want and how to obtain it. This personal self discovery will impact your trading. For example, I am the type of personality who does not like to sit and wait for a stock to advance. I may sell it before it moves. I also cannot sit through a drawdown, and usually sell when my stock slices it 50sma. I cannot tell you how many times I sold my stock as it sliced its 50sma and then reversed to make new highs. That can be frustrating. However, I have become much better at buying them back as they rally.
My sister is totally patient and never looks at her portfolio or the stock market. She retired from AT&T in 2011 and put ALL of her retirement savings ($750k) into AAPL in 2011. Fast forward to 2023 and she is worth more than $8 million and very happy she took her money out of AT&T and placed it in AAPL. That is her personality which is opposite of mine.
As a new investor/trader to the market I would say that knowing yourself is far more important to making money in stocks than learning chart patterns.📈 The chart patterns are fairly easy and us humans are much more complex 😂
Many thanks for your reply and sharing some trading wisdom.
My best to you and your family,