For those of you who have bought the QST system, congrats! I am convinced that this is the most realistic way to trade for people that cannot afford, or understand, a portfolio of PCCRC's. Whether you are a beginner or a trader with limited funds, the QST should work for you.
In previous posts I have shown you my back test of the system, following the rigid rules of the QST, and the results are quite good. I am sure that there will be times when the markest seem to be trendless, and the results may not be as good, but Poulos proposes a way to deal with that too. When the trend is strong, you need to be able to take profits regularly, in case there is a reversal. The QST method is as realistic as they come.
If you don't want to buy yet another program, here are some basic guidelines you could use creating your own swing trading method:
1. Recognize an intermediate term trend.
2. Select stocks that are temporarily going against that trend and may soon reverse again to follow the intermediate trend.
3. Use some basic T.A. standards and trust. Look for resistance and support points and entry your trade when the stock reverts direction at those points.
4. Understand that any T.A. indicator increases your probability of success, but it not always guarantees success. Hence, be prepare to stop you losses, take profit regularly and use trailing stops.
Options are particularly useful in this system, but don't buy too much time, and stay away from OTM options. Find a way to take profits, either at some T.A. Landmarks, or at specific % gains. I use 30%, 200% and expiration.
I have entered my own search criteria early on (this was done BEFORE I bought the QST system). If you think it works for you, please be sure to do the relevant backtesting and paper trading before you start using your own money.
Understand that you need several MONTHS of paper trading before you can understand what you are getting yourself into, if you are a beginner. if you are an experienced trader, you backtesting might be enough. Be cautious please. Remember that I am no guru, I am merely a trader just like you, exploring ideas for effective and profitable trading. I am impressed by QST. You might be too, then again it may not be for you, only YOU can be the judge of that.
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6 comments:
hk, before you buy, be sure that you subscribe to what they offer for free. By registering with them you should be able to take a look at profit feeder, which shows you the candidates for trading.
http://www.quantumswingtrader.com/index_mwp.php
http://www.qstprofitfeeder.com/video02/
While this knowledge is not enough, Poulos gives you a lot of information BEFORE you PAY for anything. This will give you a VERY GOOD IDEA as to whether this is for you or not.
Understand that I recommend it because I have had good results backtesting and using my own money. It works for me because I believe that Swing trading is the only real way to take advantage of options in a limited account... Say $10K to $20K.
If you account was >$20K, I would recommend my PCCRC strategies. In either case you have to have entry and exit rules and to commit yourself to learning the method and give yourself time to suceed.
Neither method (QST or PCCRC) depends on Elliott wave analysis. However, when I look at a chart, I automatically make myself a picture of an Elliott count. If you have the program already, use it, but you don't need it for good profits.
You want MOMENTUM stocks, and Elliott helps you decide which stocks are worth working on.
hi hk,
would you mind to email about QST. i have something for you.
sorry hk email me at footy998@hotmail.com
Hello Juan,
Would you mind telling us what is a QST system and the general system (like what indicator does it uses, etc)?
I'm considering on buying it and got thrown off by the price (yes, $1k is quite big in this part of the globe :P). So I wanted to know the general idea of QST.
Thanks!
http://www.quantumswingtrader.com/
Hello Juan, how's your weekend?
Anyway, I know their site and I have already subscribed to their free service. However, I still don't get what indicators (or requirements) they use to pick their selections.
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