Trading Mastery course, Stock Doctor & Morningstar Investor

[vinvest]

I am getting back into shares and historically have used a combo of fundamental and technical analysis. I used to use which was Stock Doctor for FA and Amibroker for TA. I have been looking at some other resources and would love some opinions as drowning in options at the moment -

• Morningstar Investor - I am wanting to get into some international shares in addition to AU. I have looked at the trial for Morningstar and it seems to offer some good info on both AU and some international shares. Any pros/cons of Morningstar and/or suggestions of alternatives?
• Stock doctor - I used to use stock doctor for their star stocks and also like the research they offer. Downside is it is only AU and quite expensive. Looked at their charting but not finding it user friendly or easy to see once you put some indicators on the charts so wouldn't choose it for it's charting. Trying to work out if I go with Morningstar, what additional benefits would getting Stock Doctor have?
• Trading Mastery - a tonne of ads have of course been coming up as I have started searching various sites. One of them was for an AU business called "Trading Mastery" offering a reasonably expensive course and then monthly access. I have looked at the intro video and it looks good but it is $6.5K upfront is a decent chunk of money but if it delivers what it says it does then that money could be made back. Does anyone have any personal experience of this course/system?

Thankyou for any help with this

 

[divs4ever]

I am getting back into shares and historically have used a combo of fundamental and technical analysis. I used to use which was Stock Doctor for FA and Amibroker for TA. I have been looking at some other resources and would love some opinions as drowning in options at the moment -

• Morningstar Investor - I am wanting to get into some international shares in addition to AU. I have looked at the trial for Morningstar and it seems to offer some good info on both AU and some international shares. Any pros/cons of Morningstar and/or suggestions of alternatives?
• Stock doctor - I used to use stock doctor for their star stocks and also like the research they offer. Downside is it is only AU and quite expensive. Looked at their charting but not finding it user friendly or easy to see once you put some indicators on the charts so wouldn't choose it for it's charting. Trying to work out if I go with Morningstar, what additional benefits would getting Stock Doctor have?
• Trading Mastery - a tonne of ads have of course been coming up as I have started searching various sites. One of them was for an AU business called "Trading Mastery" offering a reasonably expensive course and then monthly access. I have looked at the intro video and it looks good but it is $6.5K upfront is a decent chunk of money but if it delivers what it says it does then that money could be made back. Does anyone have any personal experience of this course/system?

Thankyou for any help with this

welcome to ASF

since you already have skills in TA and FA , do you need to go any further than ASF

over the past decade you have here several skilled trader's , @Skate , @DrBourse @tech/a and several more , all hidden in the older ( and some new posts ) , add in a free scanning website , i use https://www.marketindex.com.au/highest-dividend-yield but there are others with their bonuses and flaws , and depending on your trading platform they bundle in assorted goodies to help keep you an active market participant .

do you really need any more than ( almost) live data/news feeds/charts

cheers

 

[dyna]

I am getting back into shares

Just curious to know why you got out of the sharemarket . Was it not profitable enough , then ?
Personally , I 'm finding it heavy going with all the volatility now , but surprisingly , more lucrative than in the past when I would have been more risk averse.

Welcome to this wonderful forum , too.

 

[vinvest]

Just curious to know why you got out of the sharemarket . Was it not profitable enough , then ?
Personally , I 'm finding it heavy going with all the volatility now , but surprisingly , more lucrative than in the past when I would have been more risk averse.

Welcome to this wonderful forum , too.

I had major life issues happening with my health and within my family - investments were pretty much buy and hold shares and some mgd funds. Thankfully life has settled a lot and finally have the time and headspace to get back into it

 

[vinvest]

welcome to ASF

since you already have skills in TA and FA , do you need to go any further than ASF

over the past decade you have here several skilled trader's , @Skate , @DrBourse @tech/a and several more , all hidden in the older ( and some new posts ) , add in a free scanning website , i use https://www.marketindex.com.au/highest-dividend-yield but there are others with their bonuses and flaws , and depending on your trading platform they bundle in assorted goodies to help keep you an active market participant .

do you really need any more than ( almost) live data/news feeds/charts

cheers

Thankyou for your replies. My skills in TA and FA are very, very rusty and decided to go back to basics and do some learning again. I will look at the skilled traders on ASF you have suggested as well as the website you suggested. Thankyou

 

[divs4ever]

I had major life issues happening with my health and within my family - investments were pretty much buy and hold shares and some mgd funds. Thankfully life has settled a lot and finally have the time and headspace to get back into it

a tough time to return to the market , but then again if the market was to have retracement .. maybe the opportunity of a lifetime

just remember you are playing against robot ( HFT ) traders and computer algorithms now , you will be amazed at the details you see in the market now

nice to hear your personal ( and family ) life is getting back together

good luck in the market

 

[divs4ever]

look in Beginners Lounge

here is a good thread to off , but there are several others

DrBourse TA Help for Beginners

Dr Bourse Message for NEWBIES… This post is for the “Wanna-be” Newbie Share Traders….. The following may seem harsh to you, but I'm trying to stop you losing money…. Basically there is a lot to learn about this industry, but IMO you HAVE started off with the correct approach, by asking...

www.aussiestockforums.com

 

[vinvest]

look in Beginners Lounge

here is a good thread to off , but there are several others

DrBourse TA Help for Beginners

Dr Bourse Message for NEWBIES… This post is for the “Wanna-be” Newbie Share Traders….. The following may seem harsh to you, but I'm trying to stop you losing money…. Basically there is a lot to learn about this industry, but IMO you HAVE started off with the correct approach, by asking...

www.aussiestockforums.com

Wow this is fantastic - thankyou so much - will definitely look at this and also other users you suggested.

 

[divs4ever]

Wow this is fantastic - thankyou so much - will definitely look at this and also other users you suggested.

.https://www.aussiestockforums.com/threads/dump-it-here.34425/

although currently @Skate has moved into ( semi-passive investing

but lots of trial and error on systems


@tech/a is another

@peter2 another

XAO Technical Analysis

Just thought I'd start a thread just on analysing the XAO. Anyone who has a diffent version of where they think the All Ords might be heading please feel free to post an alternate, or different perspective. This might be an opportnity for any other T/As to put their particular analysis on...

www.aussiestockforums.com

might be helpful

hopefully veteran members will add more

no only that but some members are still here from the GFC so they will have learned a lot of lessons

 

[Skate]

although currently @Skate has moved into ( semi-passive investing but lots of trial and error on systems

@vinvest, welcome to the ASF community.

@divs4ever was kind enough to drop my name as one member to checkout encouraged me to make a post. As a seasoned trader and member of this community, I'm excited to share some basics of system trading and how it has been a profitable method for me over the years.

Firstly, I use Amibroker and Norgate data for my trading, and I find that system trading is my preferred method of extracting profits from the ASX. The early posts in the "Dump it here" thread highlight the risks involved in trading, while the later posts focus more on trading strategies and techniques.

To get you started, I recommend using the search feature in the "Dump it here" thread and looking for posts by "Skate." You'll find that I've already written multiple posts on various trading topics, including system trading.

To give you a better understanding of my trading style, I'll share a backtest and a few charts that demonstrate the power of system trading. These charts have all the information I need, and the Exploration analysis is both colourful and easy to follow. With this style of trading, you'll only need to spend a few minutes each week once everything is set up.

Lastly, I encourage you to take a look at the "Dump it here" thread as a starting point for your trading journey. The thread has been active since 2018, and @debtfree recently shared some impressive stats, including over a million views. I hope this post has helped re-introduce you to system trading and the resources available within the ASF community. Good luck on your trading journey!

Key Elements of Successful Trading: Beyond Luck
Successful trading is not merely a game of chance. Traders who aspire to achieve consistent profitability must focus on factors within their control. This includes developing a comprehensive trading plan, implementing effective risk management strategies, and mastering exit techniques. By dispelling the myth of luck and emphasising these key elements, traders can enhance their trading outcomes and increase their chances of success.

1. Developing a Comprehensive Trading Plan
A robust trading plan serves as a roadmap for traders. It encompasses essential components such as:
(a) Clear Goals: Defining specific and measurable trading objectives provides a sense of direction and purpose.
(b) Trading Style and Timeframes: Identifying the preferred trading style helps align trading strategies with personal preferences and strengths.
(c) Risk Management Rules: Establishing rules for position sizing, determining risk tolerance, and employing an appropriate stop-loss exit strategy is vital for effective risk management.
(d) Technical Analysis-Based Entry and Exit Strategies: Utilising technical analysis techniques to identify entry and exit points enhances decision-making and increases the probability of successful trades.

2. Implementing Effective Risk Management
Successful traders understand the importance of managing risk. Key risk management practices include:
(a) Appropriate Position Sizing: Determining the size of each trade based on account size and risk tolerance helps protect capital and minimise potential losses.
(b) Exit Strategy: Utilising multiple exit strategies including multi-level trailing stops allows traders to lock in profits and protect against market reversals, thereby maximising potential gains.
(c) Favourable Risk-to-Reward Ratio: Striving for a risk-to-reward ratio that offers a higher potential reward compared to the potential risk helps ensure that winning trades outweigh losing trades in the long run.

3. Mastering Exit Strategies
An often overlooked aspect of trading is developing a solid exit strategy. Key considerations include:
(a) Clear Profit Targets: Setting specific profit targets based on technical analysis and market conditions helps traders secure profits and avoid letting greed drive their decisions.
(b) Multiple Exit Techniques: Employing various exit techniques, allows traders to adapt to changing market dynamics and capture profits at different stages of a trade.
(c) Regular Strategy Evaluation and Adjustment: Continuously reassessing and adjusting the trading strategy based on performance analysis and market feedback helps traders stay adaptive and improve their decision-making over time.
(d) Discipline: Maintaining discipline in following the trading plan and adhering to established exit strategies is crucial to avoiding impulsive and emotionally driven trading decisions.

Conclusion
Successful trading is a result of deliberate planning, effective risk management, and disciplined execution. By focusing on these key elements and dispelling the notion of luck, traders can increase their chances of achieving consistent profitability. Implementing a comprehensive trading plan, managing risk wisely, mastering exit strategies, and maintaining discipline are essential steps toward long-term trading success.

Skate.