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Question of the Week: 5/20/2009
What is NEoWave's "trading" style?
Answer:
No matter who you are, no matter what approach, technology or system you use, you can only trade in one of three ways...
1. Trend Following (buy on strength, sell on weakness) 2. Top/Bottom Picking (sell into new highs, buy into new lows) 3. Bargain Hunting (buy on pull backs of an uptrend, sell on rallies during a downtrend)
Most people, consciously or subconsciously, pick only ONE of the above three strategies; then, they try to get the market to "behave" and fit their trading style. THAT is the reason most do not consistently make money trading. Each strategy is effective only about 1/3 of the time. When your preferred approach does not fit current market conditions, you will lose money (or breakeven) about 2/3's of the time.
The ONLY way to overcome this problem is to learn to adapt your trading style as the market demands it. This is what NEELY RIVER Trading Technology is all about and why I depend on it to such a great extent for the success of the NEoWave Trading services. Most people fail to realize that a good wave count is NOT enough to trade profitably on a regular basis. You need to know exactly how to place stops based on which trading "style" is most effective in the current environment. If a market is trending, your stops and exits must be different (no matter what the count is) than if the market were in a "bargain hunting" or "top/bottom picking" environment.
So, what is the trading style used in the NEoWave Trading service? If you are a long-term subscriber, you have noticed the style that I use to enter, exit and move stops constantly changes. I'm never stuck in a "trend following" or "bargain hunting" or "top/bottom picking" mentality. My approach changes and evolves as NEELY RIVER conditions tell me they must. This is why my stops, from a wave theory perspective, may frequently not make sense, but usually work anyway.
At specific times each week, Glenn Neely is available to answer questions, provide guidance, and offer individualized advice. This is an opportunity to speak directly with Mr. Neely to address your unique situation, advance your understanding of markets, and hone your trading and forecasting skills.
Cost is $20/minute, with a 10-minute minimum ($200 minimum charge). Your credit card will be charged after the call.
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