The Basics of Trading

This is a discussion on The Basics of Trading within the First Steps forums, part of the Reception category; Vergis92, Honestly, you do talk a lot of nonsense.You obviously have no clue how to daytrade stocks.Nuff said!! Oh yes, ...

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Old Jan 1, 2007, 8:53pm   #441
Joined Dec 2001
Vergis92,
Honestly, you do talk a lot of nonsense.You obviously have no clue how to daytrade stocks.Nuff said!!
Oh yes, buy yourself a dictionary and I might take you more seriously .On 2nd thoughts....
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Old Jan 2, 2007, 12:47am   #442
 
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NOBRAINER you said it pal, dictionaries i dont need go back to sleep
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Old Jan 2, 2007, 4:07am   #443
Joined Dec 2004
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Originally Posted by dbphoenix
.... What you have failed at or succeeded at is irrelevant to what is appropriate for someone else. This guy may be a born daytrader. Or scalper. To say that a beginner -- or anybody else -- cannot succeed at whatever is merely a reflection of your own bad experience. What matters more than adopt this style or avoid that style is to find someone who can help him determine what is his best fit, preferably before he loses enough money to make him gun-shy.
You've hit it right on the nose. I would venture to say an awful lot more money is lost in the markets because of traders not knowing their "trading niche" as Brett Steenbarger puts it in Enhancing Trader Performance - both in terms of trading losses and wasting cash on courses, etc. that are a stylistic mismatch for them - than on anything else when you boil it all down.
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Old Jan 2, 2007, 11:33am   #444
 
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thanks everyone for all your advice recently, i am going to keep to the demo account for awhile until i gain more knowledge, and nor buy any more MANUALS

regards

mcginty1
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Old Jan 2, 2007, 2:44pm   #445
Joined Nov 2006
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Originally Posted by dbphoenix
I'm afraid you're missing my point entirely. What you have failed at or succeeded at is irrelevant to what is appropriate for someone else. This guy may be a born daytrader. Or scalper. To say that a beginner -- or anybody else -- cannot succeed at whatever is merely a reflection of your own bad experience. What matters more than adopt this style or avoid that style is to find someone who can help him determine what is his best fit, preferably before he loses enough money to make him gun-shy.

Db


Is not just me, it's the opinion and trading results of the more experienced , and I mean the ones that have helped me trade like them and actually make money,

The statistics tells us that 9 out of 10 traders and would-be traders will fail,
never to return, or never to recover lifetime losses.
I prefer to be realistically optimistic to them with real life examples to just
being a high flyer with any trading style and time frame,

My opinion about time frames is that they have different intensity
of risk/reward and stress,

many people can become Cessna pilots, yet very few succeed in becoming
jet fighter pilots even the all want it, but no one starts their training
right at extremely high speeds and pressures on the first day.

if it is to be their trading style they will sure do it someday
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Old Jan 2, 2007, 2:59pm   #446
 
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Quote:
Originally Posted by vergis92
Is not just me, it's the opinion and trading results of the more experienced , and I mean the ones that have helped me trade like them and actually make money,

The statistics tells us that 9 out of 10 traders and would-be traders will fail,
never to return, or never to recover lifetime losses.
I prefer to be realistically optimistic to them with real life examples to just
being a high flyer with any trading style and time frame,

My opinion about time frames is that they have different intensity
of risk/reward and stress,

many people can become Cessna pilots, yet very few succeed in becoming
jet fighter pilots even the all want it, but no one starts their training
right at extremely high speeds and pressures on the first day.

if it is to be their trading style they will sure do it someday
The statistics don't say any such thing. You're going by what you've been told or what you've read somewhere, not by reviewing actual studies.

As for extrapolating the experiences of your acquaintances to the trading population as a whole, this has its own statistical pitfalls.

As for "extremely high speeds and pressures", your characterization of daytrading is debatable. If one is under unusual pressure, it is likely that he has little or no idea what he's doing.

Db
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Old Jan 2, 2007, 3:14pm   #447
Joined Nov 2006
Quote:
Originally Posted by nobrainer
Vergis92,
Honestly, you do talk a lot of nonsense.You obviously have no clue how to daytrade stocks.Nuff said!!
Oh yes, buy yourself a dictionary and I might take you more seriously .On 2nd thoughts....

You are right, and I don't want to ever learn daytrading,
I daytraded the e-mini SP500 contract and was not worth the effort
even in winning months,

I'm not taking advice from anyone unless they are making 3 times
the index points I make, spend equal time , and have comparable
success rate.


And since daytrading cannot beat the efficiency of swing trading
I don't care about it,


You can all talk about the 'elite trader in oneself' and encourage all new traders
to find theirs in daytrading and lose all their money faster than ever and in vain
in the process.
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Old Jan 2, 2007, 3:24pm   #448
 
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Quote:
Originally Posted by vergis92


You can all talk about the 'elite trader in oneself' and encourage all new traders
to lose their money faster than ever and all in vain.
I've said nothing of the kind, but if you want to believe that I have, knock yourself out.

Db
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