How to use the tools from The Patient Fisherman blog

Tools From The Patient Fisherman

The core skill in trading or the edge is in both selecting stocks and timing them. There are two basic ways to gain edge. One is stock or vehicle selection and the other is timing entry or exit on those vehicles.

The Patient Fisherman lists are primarily vehicle selection list. They rank stocks as attractive for trading. Unlike scanners which use fix cut offs, ranking method that we use has more information. What ranking does is it gives you relative importance of the stock. For example if you look at the Top Stock Ranked by Momentum and Value then the number one ranked stock is better than number two and number two is better than number three and so on. The ranking prioritizes the ideas. So if you have a choice you would select higher ranked opportunity first.

What these lists do is reduce the 7000 stock universe to 50 opportunities ranked in terms of attractiveness. At some stage we will further refine the lists to give you only 25 or less than 25 opportunities in terms of priority.

These lists do not offer you timing advise. A best of the stock if you enter or exit at wrong time is not going to make you money. For that timing becomes critical. Every stock has up trends and down trends. Timing techniques allows you to identify such periods and determine when to enter or exit. Your timing skills and strategies will determine the amount of returns which you can get from these 50 stock list.

When it comes to timing strategies the 4% breakout along with associated conditions are timing signal for these stocks that can be used currently. We are working on the timing part of these lists. The timing part for this will be based on Stockbee buy and sell zone ratings. The buy and sell rating zones will tell you when it is time to enter and exit on these stocks. The work on that is going on currently and at some stage those rating will be introduced.

Some of you have asked how are these lists derived and can they be replicated in Telechart or Stockfinder. The answer is no. These lists are derived using a composite factors for which all information may not be available in Telechart. If you want to do something like this for yourself you need to develop it yourself.

These lists and method is being developed by dcummiskey for his own personal trading because he has busy life and career and wants to have a way to trade in his 401k and other accounts along with his ongoing job and career. I just offered him hints and pointers, he developed it on his own.

If you are serious about your own trading and want to develop your own method either for 401k or for stock trading then you have to work out your own method. That is when you will have significant confidence in your methods and in trading. That will also improve your self efficacy beliefs.

Best site to learn to trade

If you are serious about your trading and want to build an enduring edge, the Stockbee Member site might help you.

Members tell me they have tried a lot of things before coming to my site, and it has offered them the most extensive and detailed methods to swing and position trade. Members range from very experienced traders to novices.

No advertising, no hard marketing, no promotions, no free offers, no affiliate marketing, no incentive to other bloggers to promote the site, no constant tweets self-promoting the site, and no tall claims. Every member comes through word-of-mouth recommendations from existing members.

As a member, you will learn the basics of swing trading, momentum investing, growth investing, and risk management. You will learn about Stockbee Momentum Burst breakouts, Stockbee Trend Intensity Breakouts, Stockbee Episodic Pivots Breakouts, Stockbee Lemonade Strategy for 401k, and many other member-shared methods.

You will learn how to set up your own scans, how to select the right kind of stocks, how to set up stops, when to enter, when to exit, how much to risk, how to track your trades, and all other details about trading.

You will learn about developing your own methods and not relying on others for trade ideas. Develop your own edge. Once you develop your own method, you will have a lifelong profitable method.

The site gives you an opportunity to interact with some of the most successful traders and learn from them about their trading methods. It is a vibrant community with members from different backgrounds and experiences willing to help each other. Members have shared their methods, scans, software, backtests, and market insights.

Every day, the emphasis is on continuous learning and upgrading of market knowledge and setup knowledge. The members range from hedge fund employees, financial advisers, active swing traders, investors, and new traders.

You will see that many trading bloggers have been using my market timing methods, scans, and chart templates. They have developed their own methods based on my methods.

Almost every member comes through a recommendation of some of the leading trading bloggers and trading sites. 80% or more members continue to be members for more than 3 years. Most tell me that they stay on because every day they learn so much from the members' site.

If you are looking to develop your own trading strategy, the membership site might be for you. You have to be willing to put in the effort to build your own method. There are no silver bullets offered on the members' site. Every method, every scan, every nuance is detailed, and all possible help is offered to design your own method.

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