OK, for all the newbies out there!!!
I will try and make this as dry and neutral as possible
Alright, first of all, trade in sectors you understand, whether it be technology or, consumer cyclical. Also, if you are better at one thing over another, use your talents to your advantage. Do not allow anyone to influence what you know as fact!!!!
Second of all, don't follow the crowd, be your own trader, cherry pick what makes sense to you as an individual. Then implement your plans, and strategy as you see fit.
It is so important to stick to your plan, and don't waver at all!!!
For example: If you buy 10k shares of said company, then the stock goes up 15% 20% I personally recommend setting up a stop loss order. Either by % or price, depending on the stock and how bad the manipulation is. But lock in profits, and start over, or move on!!
(This is one of my personal opinions above, build your own strategy)
Three, if you don't understand what you are looking at, don't be afraid to ask, in this forum, or other forums but, you need to verify the information yourself.
In my humble opinion, Ray, Bill, Tony, Trips, and many others here at siriusbuzz, mean well, and will help you out as much as possible. It is so important to develop your own strategy and again, cherry pick what you understand and know.
Fourth, there are many different tools out there that you can access for free.
As Tony has said in the past, And I completely agree with him, (keep it simple stupid).
My thoughts are: ( If it isn't broken, don't fix it).
I will keep the links lite here, and not load up and overwhelm anyone that is new!!!
These are macro tools that I reference, you may feel more comfortable starting from the bottom up, but I start at the top and widell my way down.
I want others to share their tools and strategies also, so please guys jump in and throw in your knowledge!!!
http://www.wikinvest.com/wiki/Baltic_Dry_Index
Ah!! yes!! The BDI, good stuff here, if you don't read and understand the BDI, nothing personal, but you should not be trading period. Also watching and trading the shipping stocks is loads of fun!! The important thing about the BDI, it does not lie, nor can any one government control or manipulate, or seize control over it!! When all else fails, revert to the BDI!!! (unless there is a nuclear war, then nothing will matter).
http://finance.yahoo.com/q?s=%5Evix
The VIX is a monster all in its own, here is the wiki, read it too!!
http://en.wikipedia.org/wiki/VIX
I will say this!! Don't always trust the WIKI pages, they can be manipulated, and I am not sure on, how often they are policed for factual information!!!! READERS BEWARE!!!
Volume is very important, not only when it involves individual stocks, but right now in the market as a whole!!!
http://finance.yahoo.com/advances
http://www.level2stockquotes.com/level-ii-quotes.html
Level 2, is good stuff for the micro trader, and if you want to watch manipulation.
My advice: Keep an eye on the macro as you focus on the micro. In other words, keep an open mind and do not channel yourself into a trap. Just be nimble, and not to aggressive, but don't let anything scare you away. Do your do diligence
OK, I am done for now, whether you are macro, or more finite, I hope this helps, anyone else, please feel free to jump in and share your points, and strategies for the newbies!!!
Some of us can look at one thing from 10 different points of view, others can not.
Please develop your own plan, and be an individualist HA, HA, HA!!!
Don't chase the collectivists off of the cliff!!!!
WOW, all that time in the garage this weekend!!! I think you guys have me beat!!
Oh, ya, for those out there that want to understand the cycological aspects of trading read: (Animal Spirits). I for one, have not read the book, no need for me personally.
Also, ...... man I hate to bring this up, but you have to follow politics very closely right now. I HATE politics!! But I am left with no choice, but to follow this train wreck right now, God knows for how long!!!
Anyway, when in doubt, just ask someone here on siriusbuzz, and if we know, we will try and help you out!!!
Good luck out there!!!
My personal sentiment right now: Short America, long foreign stocks.