mistakes

hi all,

jus wondring if anyone can give me some tips.

i have been trying to learn trading / spreadbetting for the past few months, after loads of reading and pratice on virtual trading, i still make silly mistakes, I have been looking into the short term trades (5min charts) and can see the development of the charts, support resistance etc., but thats no good if can not predict whats coming next.

can any of you experts put on the right path as i am losing hope.

regards

tiger

remember its all statistics and probabilities... everyone loses trades but its having more from your winners than losers that counts.

Choose a reasoning for your entries, see if cutting those that go against you and running hte others till S/R or... again makes you more than you lose...?

Keep practising until you make less mistakes. It will come with patience.

shadowninja said:

Keep practising until you make less mistakes. It will come with patience.

Click to expand...

Another good point from this man.

Was gonna say the same.

do you recommend trading courses or they just another money grabbing thing???

The second bit you just said.

They'll only teach you technical analysis. And probably give you a half-baked trading system.

tiger2008 said:

hi all,

jus wondring if anyone can give me some tips.

i have been trying to learn trading / spreadbetting for the past few months, after loads of reading and pratice on virtual trading, i still make silly mistakes, I have been looking into the short term trades (5min charts) and can see the development of the charts, support resistance etc., but thats no good if can not predict whats coming next.

can any of you experts put on the right path as i am losing hope.

regards

tiger

Click to expand...

Certainly not an expert but here's my $0.02 worth.

1. Get a strat you have 100% Confidence in.
2. Get a strat you have 100% Belief in
3. Get a strat you have 100% Understanding of

THEN START PRACTICING.

If after reading a few books for a couple of months you could sit down and make bundles who would work at Tesco ? I

'm sure the odd person gets consistently profitable after 2 months. However, for the most part the learning curve is approx 2-3 years. Don't expect miracles.

In terms of silly mistakes. You're HUMAN not a robot and with 8 weeks experience you ain't gonna be trading like Paul Rotter.

I think trading is a little like golf. Sure you get people who master it in 8 weeks, but most people take a few years to get their game to a standard where they could play and not make an **** of themselves on the local course. Thats not to say they'll be playing on the European tour anytime soon thats just to get to an average level. Now the more golf you play the less stupid mistakes you'll make. This is exactly like trading, the more trades you make the less silly mistakes you'll make.

However, not everyone who buys a set of clubs can hit a golf ball no matter how many years they practice. The same with trading, some could buy every book under the sun and still not manage to get consistent.

At the end of the day this my friend is a marathon not a sprint and you've got 1mile in and you are wanting the finishing line already.