Redscape - View topic - www.stockmarketmentor.com...a fine resouce!

Www.stockmarketmentor.com...a fine resouce!

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Dag Hammarsjkold
Emissary

Thu Mar 25, 2010 8:36 pm

Redscape Misers Unite!!

CORRECTION

Check out www.stockmarketmentor.com. Dan Fitzpatrick offers does a good job explaining the market.

I believe he even offers a 30 day free trial. After that he gets expensive..I think $75 a month?

Anyway, the free tips on his website are worth the visit.

Dag

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For everything that has passed, "thankyou". For everything still to come, "yes!"

posts: 955 | location: New York | joined: 15 Oct 2002

geojanes
Dignitary

Fri Mar 26, 2010 7:32 am

I'll be interested in hearing your take on this site if you stick with it. From my quick look, there's a lot of macro huristics that rely upon charts.

If you've ever read Dostoyevsky's The Gambler, I think it was, and there's this guy who who develops a "foolproof" system in Roulette using probability for beating the house. Needless to say, he failed.

Charting, to me, is the 21st century equivalent to 19th century Roulette systems designed to beat the house. Stock trading charts are the results of thousands of individual decisions made for a variety of reasons. The human brain tries to find patterns in these data and very often it thinks it does, when, in fact, there is merely noise or an artifact of the summarized mirco-data that will not necessarily be repeated.

I have no sources or data to back up my feeling on this, but I urge caution when adopting such a system because it plays into the brain's weakness to find patterns where none exist.

posts: 1290 | location: New York, NY | joined: 01 Oct 2000 | medals: 2

Dag Hammarsjkold
Emissary

Sat Mar 27, 2010 7:12 pm

Nevermind the data to back your gut feeling. I appreciate the critique and will be cautious. So far his system has helped me understand the market a bit more and I've managed to make some modest gains here and there since giving him a shot. We'll see where it goes.

posts: 955 | location: New York | joined: 15 Oct 2002

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