Complete Newbie looking to start

This is a discussion on Complete Newbie looking to start within the First Steps forums, part of the Reception category; Thanks for your input! I値l have a look at trade sizes and the amount I知 willing to risk this early ...

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Old Jan 4, 2010, 5:03pm   #22
 
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Joined Nov 2009
Re: Complete Newbie looking to start

Thanks for your input!

I値l have a look at trade sizes and the amount I知 willing to risk this early on and keep it realistic.

Does anyone have any viable views on the combination of technical indicators used and also writing a trading system/ plan?

So much to learn.!

Oh and I checked out that babypips.com website, looks insightful, albeit in a school like manor! Oh well 
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Old Jan 4, 2010, 8:46pm   #23
Joined Nov 2008
Re: Complete Newbie looking to start

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Originally Posted by Hoggums View Post
You are right money isn't selective or discriminatory - but your brain is and this will be the largest hurdle you will have to face.

Sadly this statement is false -



It's simply not true that anyone can make it - there are individuals who have an aptitude for trading and those with impatience, arrogance and strong emotions that will always prevent them from being a long term success.

I think most people fall into the 2nd category, you have to find out if you are one of the lucky ones that fit into the 1st.

Good luck!
Agree with Hoggums, drive and determination will only take you/get you so far in this business. However, without it, and the resiliance to pick yourself up time after time after you've got bruised knees clattering into the next hurdle, you mightn't have the stamina to succeed.
Folk also confuse discipline with the singular discipline in the trade and trading plan, but you also need the personal discipline to do the job day after day, hour after hour in the set times, under all conditions.
Without a doubt those that treat trading as a profession increase their chances of success exponentially.

Last edited by Black Swan; Jan 4, 2010 at 8:51pm.
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Old Jan 4, 2010, 8:50pm   #24
Joined Nov 2008
Re: Complete Newbie looking to start

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Originally Posted by Paul71 View Post
...Unprecedented intellect to set up your own business? It's all about merit, ability and conduct, something you're casual SBer knows nothing about. As i've said before, legitamacy brings credability....is this the right site? Probably not.
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Old Jan 4, 2010, 8:56pm   #25
 
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Re: Complete Newbie looking to start

Thought you were having a dig at TW2 members.....

Although I agree with you that a professional attitude is indispensable, setting up a limited company is not top of my list when it comes to trading priorities. Most traders at the prop shop I used to work for were self-employed with LLP arrangements.
If setting up a formal structure helps in your discipline and approach then great. I think it then comes down to personal preference (and possibly tax advantages).


Quote:
Originally Posted by Paul71 View Post
...Unprecedented intellect to set up your own business? It's all about merit, ability and conduct, something you're casual SBer knows nothing about. As i've said before, legitamacy brings credability....is this the right site? Probably not.
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Old Jan 4, 2010, 9:00pm   #26
Joined Nov 2008
Re: Complete Newbie looking to start

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Originally Posted by spreader_legger View Post
Thought you were having a dig at TW2 members.....

Although I agree with you that a professional attitude is indispensable, setting up a limited company is not top of my list when it comes to trading priorities. Most traders at the prop shop I used to work for were self-employed with LLP arrangements.
If setting up a formal structure helps in your discipline and approach then great. I think it then comes down to personal preference (and possibly tax advantages).
Well, if you're Paul you need 」7K a month just to pay the bills, it's therefore understandable that the stress gets to him, with increasing regularity it seems...
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Old Jan 4, 2010, 9:38pm   #27
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Re: Complete Newbie looking to start

How a person can even think of classing themselves as a professional anything without being legit is beyond me. The thread starter is asking strangers on a site that condones system selling what to do with his 20k....this site is nuttier than squirrel sh!t....funny though...very funny.
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Old Jan 4, 2010, 11:41pm   #28
 
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Joined Jan 2010
Re: Complete Newbie looking to start

investme started this thread Good job i'm not asking you to sell me a system then isn't it

I'm simply asking for advice and opinions - and there are lots, good and bad which i'll take into consideration. I'm not stupid and naive enough to think i can stumble onto a good strategy that'll never fail and become an instant millionaire. I'm well aware this is going to take a lot of hard work, determination, learning and more before i get anywhere

However, not everyone gets a chance to have that money to invest and i want to learn to do something worthwhile with it, i'm not saying i'm going to shove it all into a trading account when i get it just because i managed to double the demo one i used for two weeks a few months before, what i am saying however is that i'd like to be confident to at least invest some of it into an account and see how things go when i get it
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