Copy Cat or How to Use a Successful Trading System

How many books have you read about successful traders? How they did this or that and made a fortune and are still doing it. You say to yourself, "I'm going to follow his method and get rich".

So you subscribe to his newsletter (they all have one, $250) and buy his course on CD Rom ($495)and next time he is anywhere near you attend his seminar with a $500 discount for only $2495. You do understand you must do exactly as he does and you try your best to follow the directions, but for some reason you still are not making money. At least you are not losing as much as you did before (I hope).

Go look in the mirror. You are not Richard Russell, Richard Wyckoff, Bill O'Neil or any one of the great gurus of the market place. Each one of them has devoted every minute of his life to understanding the market. Each one is very successful and each one has a completely different way of approaching trading. Can you copy any one of them? It is very doubtful.

These great teachers can help you, but you have to develop your own method and style of investment. Whether it is long term or short term it must be something with which you resonate. When I was a floor trader there were a thousand guys trading and I know there were a thousand different guide lines. No one had the same buy or sell signal. If they all followed a pat program they would all be buying and selling at the same time so it could not work.

I have stood in the pit and watched the same person offer to buy and when there was no seller he would then offer to sell usually at the same price. Yes, he was scalping for one or 2 ticks, but he knew what he was doing even if it looked strange. A friend of mine could arbitrage by standing in the middle of the gold pit and hit buys and sells that were off by one or two ticks because they could not hear each other due to the noise of other traders who were shouting their offers.

You can look at the basic trading style of one of the "greats", but you must adapt it to your method. I have not seen anyone able to successfully copy a trading program exactly. You will improvise and find a slightly new approach that becomes "yours". It then becomes part of your cellular being. It works for you and probably won't work for anyone else.

If the programs the hype masters are selling work so well why aren't there more rich traders? And if the programs are so darn good why are they telling you?

To be a successful trader you can't copy cat an existing program, but you can take a basic trading vehicle and modify it your own plan. Turn that cat into your own tiger.

Al Thomas' book, "If It Doesn't Go Up, Don't Buy It!" has helped thousands of people make money and keep their profits with his simple 2-step method. Read the first chapter at http://www.mutualfundmagic.com and discover why he's the man that Wall Street does not want you to know.

---

Google News Updated : Tue, 07 Oct 2008 20:50:00 GMT Bernanke hints at possible interest rate cut - MarketWatch The Associated Press Bernanke hints at possible interest rate cut MarketWatch - 31 minutes ago By Greg Robb, MarketWatch WASHINGTON (MarketWatch) - Federal Reserve Chairman Ben Bernanke opened the door on Tuesday for a possible interest rate cut to help rescue the economy from a severe downturn, admitting that the global panic in the financial ... Video: Bernanke signals possible rate cut ReutersVideo Bernanke: Economic outlook weaker CNNMoney.com New York Times - Forbes - Reuters - MSN Money all 988 news articles Publ.Date : Tue, 07 Oct 2008 20:18:10 GMT Cough, Cold Drugs Not for Kids Under 4 - WebMD CBS News Cough, Cold Drugs Not for Kids Under 4 WebMD - 2 hours ago By Miranda Hitti Oct. 7, 2008 -- Don't use over-the-counter pediatric cough and cold drugs in kids younger than 4. Leading makers of over-the-counter pediatric cough and cold drugs are putting that message on the products' labels, according to the ... Cold, Cough Medicines for Children Get Added Warnings (Update3) Bloomberg Drug Companies Say No Cold Meds for Kids Under 4 Washington Post Chicago Tribune - New York Times - Bizjournals.com - The Associated Press all 1,485 news articles Publ.Date : Tue, 07 Oct 2008 18:48:20 GMT AIG's ex-CEOs blamed for crisis - CNNMoney.com Los Angeles Times AIG's ex-CEOs blamed for crisis CNNMoney.com - 1 hour ago House panel chairman says executives got undeserved riches, while ex-CEOs blame accounting rules and market conditions for leading to $85B bailout. Joe Cassano: The Man Who Brought Down AIG? Washington Post AIG CEOs Blame Each Other, Accounting for Insurer's Downfall Bloomberg Wall Street Journal - Financial Times - New York Times - Forbes all 768 news articles Publ.Date : Tue, 07 Oct 2008 19:11:18 GMT Sleuth's Presidential Debate Watch Game - Washington Post Sleuth's Presidential Debate Watch Game Washington Post - 41 minutes ago Tonight's debate watch games probably won't be as much fun as last week's Palin Bingo. But don't fret, there are still games to be played during this second presidential debate between John McCain and Barack Obama. 'Aggressive' debate expected between McCain, Obama CNN * McCain looks for way to stop Obama's momentum Reuters The Associated Press - MSNBC - U.S. News & World Report - TIME all 1,199 news articles Publ.Date : Tue, 07 Oct 2008 20:08:21 GMT Qantas Involved in Another Air Incident - New York Times NEWS.com.au Qantas Involved in Another Air Incident New York Times - 25 minutes ago By Liz Robbins It has been 20 years since Dustin Hoffman’s character Raymond Babbitt in “Rain Man” made Qantas synonymous with air safety, claiming he would only fly the Australian airline because it had never crashed. Qantas passengers arrive in Perth after mid-air ordeal ABC Online Fifteen badly hurt as Qantas jet drops Sydney Morning Herald The Standard - Taipei Times - United Press International - NEWS.com.au all 366 news articles Publ.Date : Tue, 07 Oct 2008 20:24:06 GMT Thai Army Sends Troops to Help Police Keep Peace - Washington Post Voice of America Thai Army Sends Troops to Help Police Keep Peace Washington Post - 4 hours ago Thailand's military agreed Tuesday to deploy hundreds of unarmed soldiers to the streets of Bangkok to help police restore order after violent clashes between police and protesters that left at least 1 person dead. Video: Raw Video: Tear Gas Fired at Thai Protestors AssociatedPress Troops deployed as one dead, hundreds hurt in Thai protests AFP Reuters UK - Hindu - eTaiwan News - The Standard all 1,327 news articles Publ.Date : Tue, 07 Oct 2008 16:12:03 GMT Wells Fargo may get lion's share of Wachovia deposits: report - MarketWatch Sify Wells Fargo may get lion's share of Wachovia deposits: report MarketWatch - 32 minutes ago By John Spence, MarketWatch BOSTON (MarketWatch) -- Wells Fargo & Co. may get as much as 80% of Wachovia Corp.'s deposits, with the remainder likely going to Citigroup Inc., according to a published report Tuesday. Citi, Wachovia, Wells temporarily halt litigation Bizjournals.com Wachovia shares waver as Citi, Wells Fargo wrangle Forbes BloggingStocks - Washington Post - New York Times - CNNMoney.com all 7,781 news articles Publ.Date : Tue, 07 Oct 2008 20:17:51 GMT RSS Datafeeds Amazon Associate Feed

PARLOT::Ebooks, Scripts, Websites, and more...

Adsense websites

Why Should I Use Penny Shares to Build Wealth?

A strategic question. Why indeed?1. A penny share would usually... Read More

A Secret Revealed: Why Most (Day) Traders Fail

The following perspective on (day) trading comes from my many... Read More

Invest To Make Money, Not To Get Rich

The technology boom of the '90s romanticized the "rags-to-riches" ideal... Read More

Why have Investment Plans for the Stock Market

If you do not have an investment plan in the... Read More

Brain Snappers and Other Wall Street Nonsense

The last time you spoke with your broker did he... Read More

My Way Or The Highway: Give Your Financial Professionals A Good Talking To!

All this talk about Investing is encouraging lately. Over the... Read More

Just Say NO to Your Stock Broker

We have all heard that slogan that started back when... Read More

Find a Methodology and Minimize Investment Madness

There are many reasons to be investing these days, and... Read More

Sell Discipline for Investors: Importance and Execution

Investors usually don't have an aversion to buying an asset.... Read More

An Old Dividend Stock Investment Idea, for a New Generation

Death and taxes! The certainties of life! And then, of... Read More

Ask The SEC

Who is the SEC and why should I ask them... Read More

Should You Put Your Annuity in an IRA?

Let me start by answering that question...if an annuity fits... Read More

Forex Trading Best Practices

FOREX, the term for the FOReign EXchange market, is an... Read More

Six Principles of Successful Investing

1. Begin investing immediatelyProcrastination is the number one enemy of... Read More

Options Education : Opinion versus Fact!

The most basic aspect of trading is learning to differentiate... Read More

Can Your Annuity Do This?

Many people buy annuities according to their agent's recommendations. However,... Read More

Profitability And Stock Turn Rate

The inventory of the typical store represents the largest single... Read More

The Cost of Green Eggs and Ham

Young readers know that March 4th is the birthday of... Read More

Powerful Options Basics Lessons Improving your trading in 180 days.

An option is a traded security that is a derivative... Read More

Success Trading: More Basic Terminology for New Traders

One important aspect of trading the markets is to understand... Read More

Wit and Wisdom on Money, Wall Street and Success - Part #2

Here are ten more WISDOM packed GEMS that ooffer very... Read More

Options Made Easy and Investor Education - Simple Enough for a 10 yr Old Kid

How many of you out there think that the market... Read More

Everybody Wants to Know How to Invest

Those unfamiliar with the process of making and managing investments... Read More

Makin The Sauce

Let's face it, you're on a roll. After getting down... Read More

Success Trading: Some Basic Terminology for New Traders

The world of trading can get very complex because the... Read More