Joined: 24 Apr 2005
Location: Houston, Texas
|Posted: Mon Mar 23, 2009 11:41 pm Post subject: Candle Thoughts
|Is this a post on how Broke I have become Trading Candles?
Is this a post on a comparison of Stock Brokers?
Well,.... yes (not) and no (yes)? Sort of?
Oh where does the time go?.....2008 - a market that fell.......2009 - A new President....2009 1/2 - A turning point for the Stock Market?
Looking into my crystal ball, I see that in August 2008 I cashed in all my 401k and placed the cash into what I call a 'Mutual Fund Savings account". This is a safe haven for me where every share is worth $1 and the price never changes! Only the interest changes. I've been making +4-5% APR since that time. Not a lot, but heading in the right direction!
In January 2009, I took a 5% loan against a part of the 401k to payoff Credit cards, do some remodeling (which is 1/2 way through), but that is another story......Old interest rate of 18%....now 0%....and paying back my 401k loan to myself each and every month with 5% Interest
Soon will be the Anniversary of my first Thursday Night Stock Chat - ( 4-24-05). It's hard to believe It has been so long. Oh where has all the time gone? Believe it, or not, I have not missed one Stock Chat episode...the one's I could not attend Live...I downloaded and viewed on the weekend
Since my anniversary date, my 401k has produced about +280% profit from the initial startup money - all due to the Candle Stick Patterns!
It was February 2009 when I switched brokers... for the 3rd time...and now I am feeling very comforable using TDAmeritrade in combination with Worden Telecharts, and struggle to free-up more time to do even more with Candles.
I adhere diligently to MY RULE of Practicing with the Candles every single day, adhering to the number one rule - TRUST THE CANDLES and number two rule - REMEMBER ENRON!
I started with Scottrade, useful, cheap, but did not fit my style, and I needed more. I then went to MBTrading - cheap, kind of useful, but not reliable and difficult to understand the operation, and I finally settled with using TDAmeritrade which is the best choice FOR ME!
Four years with Candles does seem like a very long time, but it went rather quickly. Oh yes! Did I mention that for the month of February 2009 my stock trading is +20%....Just check the Dow charts!....I just love Candles!
Most of my trades occur within the first or last hour of trading. I tend to hold a stock for 2-3 days, and rarely 4 or more. I let the Candles do my thinking for me (Thanks Steve) and take profits whenever, and wherever I can (Thanks Rick).
Good Candling to All!