Where do I start?

This is a discussion on Where do I start? within the First Steps forums, part of the Reception category; Originally Posted by timsk Wrong - they do. As a member of staff on this particular forum, I most certainly ...

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Old Nov 28, 2011, 7:18pm   #25
 
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Unhappy Re: Where do I start?

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Originally Posted by timsk View Post
Wrong - they do.
As a member of staff on this particular forum, I most certainly have the interests of fellow members - especially newbies - at heart. I do my level best to ensure that any official output in the form or Stickies and FAQs etc. will help members achieve their trading goals rather than hinder them. To that end - as I've said 100 times before - if there's info' in any of them that is incorrect, unclear or misleading - please bring it to my attention and I will amend it. That way, you can do your bit to ensure that all the official content is of the highest possible calibre. That you haven't (thus far), leaves me to conclude that you think the official content is the best it can be; thanks for the vote of confidence!

On the other hand, if the "appallingly bad advice" you're referring to is on the main boards, then this is a different matter entirely. As you're well aware, anyone can post their views - so long as they abide by the site guidelines. Inevitably, some views may fall into said category in your opinion. In that case, all you need do is explain what's wrong with the post concerned, propose a better alternative and then subscribers to the thread can decide for themselves which view makes the most sense to them. That's the way that democratic and free forums like T2W work!


Tim.
Paper Trade,
Save Up A Couple Of Grand --- This has to be money that you don't need, so don't use your rent/mortgage/holiday/christmas present or any other necessary cash.
When Your Paper Trading Is Going Well Try Trading For Real - It will allow you to feel all of the emotions that trading can give you. Highs, Lows Boredom, Excitment, Stress, Relief. You get the picture.

---
You'll probably lose that couple of grand
---

If You Fancy Trying Again
---
Stop Reading Bulletin Boards, they are full of people trying to distract you, give you crap advice. Do your own research, find someone that you can visit face to face and watch them trade.

Paper Trade Again for a few months and try and simulate , formulate and execute trades.

---
Save Up A Couple Of Grand
---

Don't trade this money until you have got some proper tuition on money management. You need to learn how not to lose the money that you have just saved.

This is where I am at. I am learning how to keep my money for as long as possible.

Read New Stock Market Wizards, it's a great insight into guys that have made millions if not billions. How they coped with large losses and how they feel when they enter trades on a regular basis.

---
Tim-
If you can show me where the above advice is principally sound then I promise to buy you a beer at the next social event.
Setting yourself up for a fall tells you nothing about risk management, it simply tells you what a MORON you are. And yes when I started trading and did not sti ck to my plan I used to write myself an email telling myself what a stupid ****ing **** I was and WHY. I then printed it out and pinned up for in front of my desk for all to see. It did not take too many episodes of that to force me to focus on my plan and follow it. Forget this brain dead notion that you need to lose money in the markets to learn, you verily verily verily do ****ing NOT.
Forget this brain dead notion that you need to lose money in the markets to learn, you verily verily verily do ****ing NOT.
Forget this brain dead notion that you need to lose money in the markets to learn, you verily verily verily do ****ing NOT.
Just a point Tim.:whist ling
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Old Nov 28, 2011, 7:19pm   #26
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Re: Where do I start?

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Originally Posted by Bint_Crusher View Post
Whatever you do ignore the advice from this BRAIN DEAD MONG. Learn how to make sure you do not lose your money and take profits where you can. This PILLOCK says you will probably lose your first stake of 2000, WTF??????? If your trade account was 200,000 would you be prepared to lose that? There is absolutely no difference.
All the TA books and courses will not teach you how to trade. You can be up to your ears in indicaters and strategies but at the end of the day it is good risk management that acts as the key to success. Blowing up your trade account is not a stage in your development that any real trader would recommend, unless you are a MORON like iamnev who probably has never traded in his life.
Mrs Bint Crusher
As a person of your standing on this forum, why do you insist on being so abusive.

There is a massive difference between blowing 200k and 2k , the fact that a new trader is highly likely to blow up an account I think I gave good advice. Why save up 10k, 15k or 50k only to get a bad run, lose a load of money that probably took years to gain and be scared off the market for good.

All the negativity on this forum from people like Bint is emotional. These people probably trade with emotion still. They have probably bought the next best thing out of a box only to find that the market conditions have changed and have bought last years next big thing.

I agree with most posters on here that a demo account is the best way to practice entering trades etc. Plus I agree that you don't need to know everything there is about indicators and strategies. It is not the methods that are hard to teach or learn it's the mental stress that occurs when you are in a position which is going against you.

You don't get those emotions with monopoly money, you do with real money.

The new market wizards is a great book about great traders. People who trade millions and billions rather than pence and nuggets. Those traders have learnt not to get married to a trade, they have an entry plan and an exit plan. They have a plan for if they need to scale into the position. Newbie traders don't have any of that. You get that with experience.

Another book I am reading now is "Trading in the Zone", by Mark Douglas. It's all about getting your Head right.

Like I said, in my first post. Don't listen 100% to the people on these boards, especially if they revert solely to abusing other posters. Do some research into how to prepare mentally for what emotional roller coasters you are about to ride as a new trader, as it is your head that can keep you in a losing trade and your head that can make you trigger happy rather than patient.

I have nothing to sell, I am not a bucket shop and I rarely frequent shops with buckets. I have a blog which gives you an idea of how crap I am at trading which is why I point you towards the two books I wish I had read at the beginning of this year. Maybe I would be 2k better off for spending 40

And to Mrs Bint, yes I did try and get you booted off this forum as sending me abusive personal messages is really unnecessary. You can google me, come around my house and say it to my face. Like a real person would if you really felt that way.
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Old Nov 28, 2011, 7:34pm   #27
 
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Re: Where do I start?

for nev the spotter, looks like you agree with me then.
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Old Nov 28, 2011, 7:36pm   #28
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Re: Where do I start?

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for nev the spotter, looks like you agree with me then.
I'll never agree with anything you have to write or say as you are foul.
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Old Nov 28, 2011, 8:52pm   #29
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Re: Where do I start?

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Originally Posted by Bint_Crusher View Post
Tim-
If you can show me where the above advice is principally sound then I promise to buy you a beer at the next social event. . .
Hi B_C,
Sorry if I'm being slow on the uptake here, but I'm afraid I don't see any connection between your post and mine - which specifically relates to points made by 'the hare' in his last post. If the "above advice" that you refer to can be found in any official T2W output - please see the 1st para of my last post. If it can be found anywhere else - please see the 2nd para of my last post. Between them, I think they cover pretty much cover everything!
Cheers,
Tim.
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Old Nov 28, 2011, 10:01pm   #30
 
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Re: Where do I start?

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I'll never agree with anything you have to write or say as you are foul.
Another one bites the dust. Your miserable loss, not mine.:c ool::h eart:
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Old Nov 29, 2011, 8:14am   #31
Joined Jul 2011
Re: Where do I start?

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Originally Posted by nwqwhf13 View Post
Hi all,

I am really new to trading and have zero knowledge about it. I just want to hear from someone who had started from nothing but gradually built up a portfolio. What's the first step, what books should I read, what techniques should I learn?

Thanks in advance

Frank
Hi frank,

Nice to meet you. People here are nice so, don't hesitate to leave a message here if you have any questions. Hope to hear from you soon..

Happy Trading.
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Old Nov 29, 2011, 11:34am   #32
 
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Re: Where do I start?

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Originally Posted by CortneyWilliams View Post
Hi frank,

Nice to meet you. People here are nice so, don't hesitate to leave a message here if you have any questions. Hope to hear from you soon..

Happy Trading.
Not sure if I agree with you cortney, I think a lot of people on here are a bit nasty, certainly they are so to me.
For frank, LEARN TO TRADE, Learn what really moves the markets, as far as books go check "The wealth of nations" Adam Smith; "Trading in the zone" Martin Douglas; then BE REALISTIC. If you start with 1000, do you really imagine that you can get say a 200% return on that in any year?
Watch this series on youtube: This will show you how to act and how not to react.
http://www.youtube.com/watchv=68cciZYNqn0
Consider what assets you want to trade bearing in mind that any leveraged product carries the greatest risk. Whatever you do don't treat trading as a fun easy game, treat it as a business.
If you can come back to me with the answer to the first Question "What really moves the maarkets"? Then whats more you'll be a MAN my son.:sma rt:
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