Self education is the best education for speculators

Self education builds confidence and conviction.

Every successful trader will tell you that. They discovered their method through self education.

No book, no trading course , no amount of training is substitute for self education. Through self education you create unique trading methods that give you an edge.

If you look around on the Stockbee member site or on this free site  site you will see several methods have been shared. On the Stockbee members site successful traders have shared their methods  and all of them have developed them through self study. 

If you look at  a method called Bid Back by one of the long standing  Stockbee member that does not buy breakout on breakout day but bids back on those share at more favorable price. The method involves only after hours around 30 minutes of work and has produced results which are outstanding beating market consistently multifold. For the amount of effort involved it is one of the most outstanding method I know of. If you ask the member how he developed it  he would tell you it came about after 5 to 6 years of trial and error. It is his signature recipe and he has confidence and conviction in it. That confidence and conviction can not be replicated by just reading about it or asking him thousand questions.He has offered you a template to show you how it is done and what results he got. Now it is up to you to build your own version of it . That might involve months of efforts.

Similarly many members have shared their methods and if you go through the archive you will find several dozen unique methods shared by various members. They all developed them based on some idea or template they found. In fact many members on Stockbee site  have better returns than many Market Wizards. They may not have the market Wizard fame but they can beat the pants of many of those featured in that book. If you spend effort investigating methods of some of the members you will find many many ways to trade to suit all kinds of lifestyles. Some are full timers, some just spend few hour daily and some just do it mechanically.

Same way you don't need to be member to find good methods. On this site I have shared several methods to profitably trade. If you are motivated and really serious about making money trading you should study the posts highlighted in the sidebar posts. You will find several template which you can build on to find profitable trade and manage them. They all are free.

In order to enhance your self study efforts the most important daily or weekly (if you are busy) step you can do is to study big winners for the week, month, quarter, six month, one year and so on.

Look at just say top 25 winners on weekly basis or yearly basis to start with so that you do not get overwhelmed. . Analyse their price action . Study what was the setup before the move. What was the breakout like. What was the trigger. How did the move progress. How can you find moves like these. Is anticipation better to find these move. Or even if you buy the breakout can you capture the move. How many days does the move lasts. What is the float of the stock. What capitalization. Did it move because of fundamental or some other reason.

When you study these moves always remember our objective in doing this study is to find ways to make ton of money. Our objective is not to be scientist or to develop pretty and complex way to document our finding. What we are after is finding recipes to trade these stocks and make lots of money.

Do this important thing today if you want to make money next week, next month, next quarter or next year.