Complete Newbie - what are the best possible starting foundations?

This is a discussion on Complete Newbie - what are the best possible starting foundations? within the First Steps forums, part of the Reception category; Originally Posted by Bullzak Haha, no i take all the advice given here as a gold. I understand, tradign is ...

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Old Apr 28, 2008, 1:29pm   #21
 
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Originally Posted by Bullzak View Post
Haha, no i take all the advice given here as a gold.

I understand, tradign is a serious time consuming thing, and i will learn and educate myself about it, study patterns of one particular currency etc in my spare time. I'll try and get these books too.

Cheers guys
Pay attention to detail in everything that you do. Discipline is one of the most important components of success. Don't allow yourself to be sloppy or careless. You could start by spell checking your posts, for example.

A recent post by trader_dante spoke about the dark underbelly of trading. Ask yourself whether or whether not you are prepared to suffer this level of discomfort.

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Originally Posted by trader_dante View Post
[B]
Prepare yourself for what you are about to do: I promise you that before you can make money consistently you will experience disappointment, disillusion, disgust, upset, confusion, anger and fear day in and day out whilst at the same time losing money.
As for books. Nobody learns to swim by reading a book. Become self reliant, trust your own instincts and opinions. Why use other people's?

All the successful traders I know develop a 'feel' for the market. The more squiggly lines on your chart, the less of a feel you will have.

Oh yes and one more thing.

No man ever steps in the same river twice, for it's not the same river and he's not the same man.

Understand this and IMO you will understand the essence of trading.

Last edited by rols; Apr 28, 2008 at 1:47pm. Reason: Added dante's quote
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Old Apr 28, 2008, 4:27pm   #22
Joined Jun 2006
Rols,

Quotes by Heraclitus do not appear by instinct. You've got to understand the fundamentals underlying markets' current concerns. This may not make you profit but it should help patently obvious wrong or misinformed opinions.

How often do you see posts, "I believe you can make a fortune trading fx and want to start trading immediately. What is fx?".

Grant.

Grant.
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Old Apr 28, 2008, 4:41pm   #23
 
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Rols,

Quotes by Heraclitus do not appear by instinct. You've got to understand the fundamentals underlying markets' current concerns. This may not make you profit but it should help patently obvious wrong or misinformed opinions.

How often do you see posts, "I believe you can make a fortune trading fx and want to start trading immediately. What is fx?".


Grant.

Grant.
If your implying that this is one of those posts, it really isn't... if it reads like that im sorry, I have a genuine interest and I know its complex, not clicking buttons for millions. I value all your advice, thanks.
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Old Apr 28, 2008, 9:17pm   #24
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Bullzak,

Absolutely not, mate and no need for apologies.

Grant.
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