I was talking to a friend of mine the other day about TradingView, I use it a lot and he finds it a bit overwhelming I think? He asked me about following people on TradingView and how do I separate the good people form the bullshit. This is my take on it and why I have high regard for TradingView.
If I see an idea and I like the sound of it and I think that person has good analysis and has done some DD then I go check out their last 10 ideas and see what kind of success rate they have.
People on TV generally have horrible success rates. Having 8 ideas that don't work versus one that went to the moon does not interest me. I want someone that has a really good record.
For instance www.tradingview.com/u/Alexey_Malorodov/ has a very high success rate, has the education to back it up and even when he is wrong it is educational.
www.tradingview.com/u/AngusMcK/ Angus is another trader on here that I really like from educational aspect, has a good youtube channel also.
Got me thinking about my own success rate, most of the ideas I post I don't actually have a position in the stock. I started trading nearly a year ago and I use TV to test whether I can read a pattern and if I should be following my own advice.... turns out I should, so in the second year of trading I will following my own advice. Below is an overview of my ideas and how they worked out. I have 4 very long term ideas (over one year) and I posted two today so I will leave them aside for the moment.
23 Ideas since I started, 17 correct, 6 incorrect 73% success rate
When I started I was rushing ideas a little bit and stil learning about the market so if you allow me a learning phase at the start when I got a few things wrong and count out the first 7
16 Ideas after learning phase
14 right
2 wrong
87.5% success rate
What's more incredible to me looking back is the gains I would have had if I followed my own advice, I will leave a list of the stocks below (wrong and right), thanks for reading and GLTA
Zedge +500%
Cell Impact +80%
Sprint Bio +10%
Arvinas +
Fastly +25%
Falg +150%
Valneva +20%
Dr Pepper - hit stop loss
Xpeng +100%
Constock - hit stop loss
Dan +25%
IMUX +22%
Alzinova +25%
Velodyne +10%
CLIR +100%
CODX +50%
If I see an idea and I like the sound of it and I think that person has good analysis and has done some DD then I go check out their last 10 ideas and see what kind of success rate they have.
People on TV generally have horrible success rates. Having 8 ideas that don't work versus one that went to the moon does not interest me. I want someone that has a really good record.
For instance www.tradingview.com/u/Alexey_Malorodov/ has a very high success rate, has the education to back it up and even when he is wrong it is educational.
www.tradingview.com/u/AngusMcK/ Angus is another trader on here that I really like from educational aspect, has a good youtube channel also.
Got me thinking about my own success rate, most of the ideas I post I don't actually have a position in the stock. I started trading nearly a year ago and I use TV to test whether I can read a pattern and if I should be following my own advice.... turns out I should, so in the second year of trading I will following my own advice. Below is an overview of my ideas and how they worked out. I have 4 very long term ideas (over one year) and I posted two today so I will leave them aside for the moment.
23 Ideas since I started, 17 correct, 6 incorrect 73% success rate
When I started I was rushing ideas a little bit and stil learning about the market so if you allow me a learning phase at the start when I got a few things wrong and count out the first 7
16 Ideas after learning phase
14 right
2 wrong
87.5% success rate
What's more incredible to me looking back is the gains I would have had if I followed my own advice, I will leave a list of the stocks below (wrong and right), thanks for reading and GLTA
Zedge +500%
Cell Impact +80%
Sprint Bio +10%
Arvinas +
Fastly +25%
Falg +150%
Valneva +20%
Dr Pepper - hit stop loss
Xpeng +100%
Constock - hit stop loss
Dan +25%
IMUX +22%
Alzinova +25%
Velodyne +10%
CLIR +100%
CODX +50%
Comment:
If anyone has people they follow with over 70% success rate on their stock trades I would be delighted to hear about them in the comments! Thanks