Can anyone be my trading mentor? (short term trading)

[BMK]

Hah! Was that your doing?

No LOL I don't edit Wikipedia

I pay for a subscription service--that I am not going to name--from a guy that recommends stocks for swing trading, i.e., the holding period is usually between a couple weeks and a couple months.

The service costs a few hundred dollars a year. He sends out his recommendations by e-mail, and often includes a lengthy discussion of his reasoning.

He uses both technical and fundamental analysis. When he gets into the technical stuff, most of the time I don't know what the fuck he's talking about. And I don't care. LOL

I don't act on all his recommendations, but I do not specifically avoid those that are based on technical analysis. He seems to be right more than he's wrong, and that's what matters.

And he's not the only source of information that I use.

 

[Kevin Schmit]

Hello, I am a 2024 high school graduate looking for ways to enhance my trading strategy... I would like to know if anyone is interested in teaching me what I should do next

The best advice you have got on this thread is to figure out whose posts to pay attention to and whom to ignore. The second best advice you have got is to stay in school, get a relevant degree, and get a job in the industry.

It is possible to learn on your own, but it is very difficult. Of all the thousands of past posters on ET asking for mentorship or advice, I know of only a very few (count on one hand) who have ultimately been successful. If you choose this route, you will likely find options/vol easier than TA-based screen trading.

 

[themickey]

One caveat is that, despite what you might have read or “learned” so far about the markets, technical analysis is largely bullshit and you’ll need to unlearn a big aspect of that. If that’s not something you can do, then we aren’t a good fit.

Yeah, I totally disagree.
The markets run on programs which have been coded, robotic to a large degree.
Those codes are mathmatic / technical.

 

[poopy]

Yeah, I totally disagree.
The markets run on programs which have been coded, robotic to a large degree.
Those codes are mathmatic / technical.

No bots on the inst-side are using TA. Zero.

 

[themickey]

No bots on the inst-side are using TA. Zero.

What's the definition of TA?
If computers are looking at breakouts of daily / weekly / monthly / quarterly / yearly highs, is this considered TA?
Support and resistance levels, not considered?

 

[Darc]

No bots on the inst-side are using TA. Zero.

No Momentum, Volume Analysis?

 

[poopy]

What's the definition of TA?
If computers are looking at breakouts of daily / weekly / monthly / quarterly / yearly highs, is this considered TA?
Support and resistance levels, not considered?

No.

 

[poopy]

No Momentum, Volume Analysis?

No. If you're keying off volume you're doing this wrong.

 

[longandshort]

What's the definition of TA?
If computers are looking at breakouts of daily / weekly / monthly / quarterly / yearly highs, is this considered TA?
Support and resistance levels, not considered?

No one serious is running an algo jumping on breakouts lol. At the higher frequencies you're doing market making or trying to scoop the fill on a whale. For the latter, that sort of analysis is conducted across venues (e.g. share hit on BATS, sweep every other exchange and sell basket immediately).

 

[longandshort]

No Momentum, Volume Analysis?

There are funds out there that are “long momo” but their momo signals are (mainly) cross sectional returns on a trailing 3 month, 6 month, and 12 month basis. They rebalance or buy in a monthly or quarterly cadence.

Intraday momentum tends to be negative from open to close. Short term momentum mean reverts in a 20 day period on average. Short term reversal (the last 10-14 days of the short term momentum trend) is the most hated factor for hedge funds because it is largely unhedgable.

Retail does not understand that in institutional parlance, trading (ex-market maker!) = positioning, the marginal buyer/seller is taking price based upon their view of the state of the world or the financial performance of the security (within an earnings cycle).