Invest in a setup idea if you want to make money trading

If you find a good setup invest time and effort in to perfecting it. More effort you invest higher will be your returns.

It means go in to significant detail of the setup idea. In order to make a setup work you need to really internalize the setup and make it part of you.

That means studying historically how the setup worked. Studding 1000, 5000, 10000 past instances of the setup ideas. And then from that derive leanings. That process is what is the key to building a long term edge in trading a setup.

When Livermore had a setup idea, he would go back in to his price records and see how it worked in past. He would always have a pad and pencil next to his bed according to his biography. If some setup idea hit him in the night , he would write it down and then next day he would research it.

If you want to trade a range breakout setup on growth stocks (which is popular and proven setup idea) then go in to significant details about that setup .

If you want to trade momentum burst setup then go in to significant details about that setup .

If you want to trade anticipation setup then go in to significant details about that setup .

If you invest significantly in setup idea you will find unique patterns and nuances that others have not found.

The effort makes you expert on that setup and when trading the same setup in current market they can instantly in their mind compare the setup to 20000 or 50000 past setup.

This is like chess grand master. Scientist have studied the brains of grand master and what they found is a grand master when making a move can compare the current state of the game to 50000 or more past games.A grand master in his mind instantly can look at a move of opponent and see how the game will unfold over next 20 to 30 moves, while novice looks at only 2-3 possible moves.

As against that most novice traders will abandon a setup if it does not work for 2 to 3 trades. Instead of investing in one setup idea for long period of time they flirt from setup to setup.

Significant investment in setup ideas is a recurring theme in every successful traders biography.
Most of us are not born traders.There are some who can instinctively get a setup idea in few minutes or weeks but most of us are duffers when we get in to trading. The solution to us duffers is to put in significant effort and then our game will improve.

So if you are serious about trading setups discussed here or any other setup, invest significant effort in to understanding and internalizing that setup.

There is no other short cut to that....

Unless you understand that you will continue to chase others ideas or recommendations and never have confidence in your own setups.....

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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