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Author Topic: Stop,limit,And other ???'s
sharkbait
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What is a Stop,Limit, when placing an order?

What is the difference between "day order" and "good til cancell"

I can see all the head shaking now lol [Big Grin]

Thanks

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If your going to swim with the bulls and the bears,you better watch out for the sharks

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metal1
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I would suggest you first look through and read the reference thread. lots of stuff in there

http://www.allstocks.com/stockmessageboard/ubb/ultimatebb.php/ubb/get_topic/f/9/ t/001150.html

you can also google just about anything and get an answer to your basic questions. read read read as much material as possible since you are beginning from square 1

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sharkbait
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Thanks for the reply metal1..I have/am still reading the ref. thread...LOTS to absorb [Eek!]
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BooDog
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no doubt.

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All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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Machiavelli
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especially read my posts for noobie traders... [Big Grin]

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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PCola77
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Ya know Mach, you had a big enough head before that dude challenged you. Why do I get the feeling you'll be tooting your own horn even louder (albeit sarcastically) for a while [Smile]
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Machiavelli
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Because my big head tells me to do so... [Big Grin] As for Bgeesus... we'll he's a mental case... I may have a ego of sorts but I'm not mentally ill and out and about on a furlough from the state mental institution... [Big Grin] But all kidding aside... I do think that I contribute and help noobies, ego or not.

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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sharkbait
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Take it from the noobiest of noobs...Mach contributes,he is not the ONLY one but I see his name here frequently, and it is usually connected to good info.

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If your going to swim with the bulls and the bears,you better watch out for the sharks

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Machiavelli
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Thanks shark.. [Smile]

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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Seriously Mach...I like your book recomendations. I appreciate the help. [Wink]
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Machiavelli
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Thanks.. anytime... I'm currently rereading Reminisces of a Stock Operator... excellent book about the greatest trader who ever lived... Jesse Livermore... his lessons in that book are without a doubt the best lessons ever conceived... and the fact that they are all common sense but yet we ourselves do not think of them unless we read them from him or other places is what baffles my mind... I read something he says and I think to myself... " I can't believe I didn't think of that and it's so common sense" ... for example this quotable lines/paragraphs from Jesse in the book:

1. "It takes a man a long time to learn all the lessons of all his mistakes. They say there are two sides to everything. But there is only one side to the stock market; and it is not the bull side or the bear side, but the right side. It took me longer to get that general principle fixed firmly in my mind than it did most of the more technical phases of the game of stock speculation"

2. " A man must believe in himself and his judgement if he expects to make a living at this game. That is why I don't believe in tips. If i buy stocks on Smith's tip I must sell those same stocks on Smith's tip. I am depending on him. Suppose Smith is away on a holiday when the selling time comes around? No, sir, nobody can make big money on what someone else tells him to do. I know from experience that nobody can give me a tip or a series of tips that will make more money for me than my own judgement. It took me five years to learn to play the game intelligently enough to make big money when I was right".

3. "There is nothing like losing all you have in the world for teaching you what not to do. And when you know what not to do in order not to lose money, you begin to learn what to do in order to win. Did you get that? You begin to learn!"

4. " A man may beat a stock or a group at a certain time, but no man living can beat the stock market!"

And on and on throughout the book... excellent book and fascinating story about his life in stock trading... he made about $100 million in the 1929 stock market crash if i remember correctly... he shorted stocks just before the crash when he suspected something was not kosher...

anyways i think my next book purchase will be this one (because i love to read true stories of real people and their experiences):

http://www.amazon.com/Millionaire-Traders-Everyday-People-Beating/dp/0470049472/ ref=pd_nr_b_10/102-2515516-8810568?ie=UTF8&s=books

--------------------
Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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quote:
Originally posted by Machiavelli:
Thanks.. anytime... I'm currently rereading Reminisces of a Stock Operator... excellent book about the greatest trader who ever lived... Jesse Livermore... his lessons in that book are without a doubt the best lessons ever conceived... and the fact that they are all common sense but yet we ourselves do not think of them unless we read them from him or other places is what baffles my mind... I read something he says and I think to myself... " I can't believe I didn't think of that and it's so common sense" ... for example this quotable lines/paragraphs from Jesse in the book:

1. "It takes a man a long time to learn all the lessons of all his mistakes. They say there are two sides to everything. But there is only one side to the stock market; and it is not the bull side or the bear side, but the right side. It took me longer to get that general principle fixed firmly in my mind than it did most of the more technical phases of the game of stock speculation"

2. " A man must believe in himself and his judgement if he expects to make a living at this game. That is why I don't believe in tips. If i buy stocks on Smith's tip I must sell those same stocks on Smith's tip. I am depending on him. Suppose Smith is away on a holiday when the selling time comes around? No, sir, nobody can make big money on what someone else tells him to do. I know from experience that nobody can give me a tip or a series of tips that will make more money for me than my own judgement. It took me five years to learn to play the game intelligently enough to make big money when I was right".

3. "There is nothing like losing all you have in the world for teaching you what not to do. And when you know what not to do in order not to lose money, you begin to learn what to do in order to win. Did you get that? You begin to learn!"

4. " A man may beat a stock or a group at a certain time, but no man living can beat the stock market!"

And on and on throughout the book... excellent book and fascinating story about his life in stock trading... he made about $100 million in the 1929 stock market crash if i remember correctly... he shorted stocks just before the crash when he suspected something was not kosher...

anyways i think my next book purchase will be this one (because i love to read true stories of real people and their experiences):

http://www.amazon.com/Millionaire-Traders-Everyday-People-Beating/dp/0470049472/ ref=pd_nr_b_10/102-2515516-8810568?ie=UTF8&s=books

I tried to get Reminisces of a Stock Operator from the library..they didn't have it. So I am getting it off ebay. It sounds great.

Did you see the first chapter of Everyday people Beating the Stock Market? Here: http://www.millionairetradersbook.com/?page_id=6

Cheers,
WDcisco

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Machiavelli
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Odd that Reminisces wasn't in the library... but anyways it's good your buying it though.... great great book... let me know what you think of it when your reading it... I think im the only one who reads it on this board though everyone should read it...

As for the first chapter of that book about everyday millionaire traders... very interesting chapter... I will probably get it... i put it in my shopping cart at Amazon.com for later purchase when the price goes down on it...

--------------------
Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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Hey I just bought it off amazon last night...13.57 but I think its a good investment i also bought the other book :http://amazon.com/gp/product/0735201811/ref=s9_asin_image_1/103-2106034-7600604 ?pf_rd_m=ATVPDKIKX0DER&pf_rd_s=center-1&pf_rd_r=1PTP2A70S4AZN1KFFAF9&pf_rd_t=101 &pf_rd_p=311499101&pf_rd_i=507846

You were saying that The Candlestick course is more simplified.. It says this one came out in 2001. The candlestick course came out in 2003.
Is it much of a difference because I think I can stil cancel my order...

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T e x
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quote:
Originally posted by Machiavelli:
Odd that Reminisces wasn't in the library... but anyways it's good your buying it though.... great great book... let me know what you think of it when your reading it... I think im the only one who reads it on this board though everyone should read it...

As for the first chapter of that book about everyday millionaire traders... very interesting chapter... I will probably get it... i put it in my shopping cart at Amazon.com for later purchase when the price goes down on it...

I've got it...somewhere... I'll look. Downloaded it, so you can prolly Google for it. Think mine was .pdf...

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

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T e x
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yup, I got it on .pdf. Anybody who wants it, PM me your addy...

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

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I got it too Tex. I cancelesd my order with amazon. 14 more dollars for stocks! [Wink]
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Tex you are the MAN! I found the other book that was gonna cost me $63.00 in a pdf! PM me if you want it... Same to you Mach. [Razz]
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Machiavelli
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ewwww i hate pdf.. but then again I already have the books.. so don't need them.. thanks though...

Anyways WDcisco... Steve Nison's book originally was published in 1991... the one you are seeing on Amazon.com is the 2nd edition that was published in 2001. It has 320 pages give or take compared to The Candlestick Course of 240 pages. I really don't need to learn every single candlestick and such that is presented in the first book. The Candlestick Course presents the more commonly used and easier to learn ones that is why I prefer that book over the first one.

--------------------
Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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T e x
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I *really* need to get better with candles.

For a recent example? I suspect candles would have helped me with DPDW when I was expecting more of a retrace...

I could *see* the indecision, Western-style--and of course, no one could predict that 2-gang PR--but still, I bet more knowledge of candles would have helped.

--------------------
Nashoba Holba Chepulechi
Adventures in microcapitalism...

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quote:
Originally posted by Machiavelli:
ewwww i hate pdf.. but then again I already have the books.. so don't need them.. thanks though...

Anyways WDcisco... Steve Nison's book originally was published in 1991... the one you are seeing on Amazon.com is the 2nd edition that was published in 2001. It has 320 pages give or take compared to The Candlestick Course of 240 pages. I really don't need to learn every single candlestick and such that is presented in the first book. The Candlestick Course presents the more commonly used and easier to learn ones that is why I prefer that book over the first one.

Whats wrong with a little pdf? [Big Grin] Tex here:http://stockedu.info/education/Candlestick_Charting.pdf

Mach...Your probably right..BUT I cannot find The Candlestick Course in a pdf. [Wink]
I can't wait to read it!

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