Learn the language of setups

In your trading journey you will have significant breakthroughs once you learn the language of setups. Profitable traders think in setup language while novices think in individual stock term.

In a day you will see several posts by members about individual stocks or emails about individual stocks. If you actively participate in a social media site like Stocktwits, you will see several posts on individual stocks. Something catches their fancy and or they know about a particular stock and they are enamored by it and want to know whether it is good buy or not. That thinking is not much of help.

Setup selection is key to successful trading. Setup selection allows you to condition your behavior. It allows you to develop your procedural memory. It allows you to automate your thinking. Setup oriented thinking is process based thinking. It is how do I find this kind of stock again and again kind of thinking. It is about ways to catch fish.

When it comes to setup selection your time frame is very critical. A setup that is good for day trader may not be good for swing trader. A swing trading setup may be extended setup for position trader.

Over next 30 days we will look at vast range of setup ideas. Once you get in to details of those setups you will learn the basic building blocks of designing your own setups....

Starting from 1St December there will be extensive discussion of various kinds of setups used by different traders.It will be a month long series of posts and most days multiple posts during the day on the members site. The setup series will give you large number of ideas that you can incorporate in to your trading

Study of setups is key to developing methods. A extensive understanding of setups would give you a life long foundation to design your own trading setups based on your personality and time horizons.

Once the series is over the entire series of posts would be compiled in a separate section in learning areas

Vehicle selection +setup selection+procedural memory development+self efficacy beliefs+situation awareness+risk management =Profitable trading

Over next few months we will look at each of the factor in detail...

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.

2 comments:

Anonymous said...: Thanks for sharing Pradeep! This sounds like an excellent topic for a series of posts. I check your site occasionally but think I may be a frequent visitor in December, as I am interested in learning more. Thanks again.; Nov 30, 2011, 8:55:00 PM
rmike said...: Thanks Pradeep! The sharing of your invaluable insight into the trading process is much appreciated and eagerly awaited, as always :).
Regards,; Dec 1, 2011, 5:43:00 AM

404

Recent Articles