Hahaha, I like using martial arts metaphors as now casual practitioner of Brazilian Jiu-Jitsu and I think there are quite a few similarities with trading itself.
Personally, I consider myself to be a position trader, though I do day trading every now and again. The only problem I have with day trading is that the algos are so rife that they more often than not screw you over. I have made most of my money by simply taking a view on a stock and either take profit at selected resistance levels or add more to my position at support levels. Usually I do this by buying or selling in tranches.
It's not a revolutionary approach nor what most people would call a typical pearl of earth shattering wisdom, but it has worked for me so far and I find that's what I stick to. Personally I don't have a volatile personality that can cope with wild up/down swings of day trading, I leave that to the algos and the people who feel they are happy to be near-constant nervous wrecks. Each to their own as they say.
As for sources, once again I have a simple approach. I look for quality stocks in sectors that are experiencing good growth as well as overall positive sentiment, pick my levels where to buy and just ride the wave for a while until I feel it's time to take profit. So I look at a few fundamentals such as P/E ratios (both FWD and TTM), cash ratios, YOY growth in sales and profits (Personally I avoid the analysis paralysis that so many people fall into) and based on that data I look at charts to see where the best levels are to buy at.
but theres nothing wrong with working with good mentors and teachers to accelerate that process...believe me .....most inexperienced traders have no idea who they are or what the many many trading styles and systems are .....
The best system is your own system, just because:
- you know exactly how, why and in which circumstaces it works,
- it is comfortable for you to execute the rules,
- in case if the market has changed, you can make some amendments to keep it working,
- it is interesting for you to develop it.