Self taught? Impossible!

Cannot be fat ratsed into reading all of this. If you have the basic skillset then you will be ok as a trader. This is provided you know yourself and your own individual faults. Everybody has faults its just important to know what they are and come up with a strategy that suits them so their faults do not arrive at the trading floor thus affecting their trading success/failure. In the faults assessment I mean behavoural traits not looks or outward facing blemishes. Otherwise nearly all of us would be suicidal.
A lot of people who fail are those who are too arrogant to confront their weaknesses and improve upon them, don't fall into the trap that is so easy to rectify.
 
You know, I read everything and applied it to the market. None worked for me.

Then I decides to strip off all the concepts (not easy) that I accumulated in those "knowledgeable years" and rely only on my "screen time experience".

This is where I was able to turn things around.

Self-taught in my view is better if you immerse yourself in the actual process without trying to find a solution in somebody else accomplishment wherever genuine or not.

In a few words, you need to do the dirty work yourself.

10.000 hours screen time and you will come very much on the top of it, and if you do not, at least you know you are not cut for the trading business.

Did the "knowledgeable years" have a positive influence on my "screen time experience"? Yes it did, and specially on the realisation that BS is not of any use, and sometime can be very thick and impossible to see through it.
 
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Mike Kshemaraja said:
10.000 hours screen time and you will come very much on the top of it, and if you do not, at least you know you are not cut for the trading business.
Click to expand...

But that's 1,250 days of screen time.

Or about 5 years full time.

Which means you somehow need to spend 5 years without any income to put in such a huge amount of screen time.

Who is in a position to do such a thing?

I know that prop shops expect their traders to get profitable with a lot less screen time than that.

I'm thinking that IF you know what to look for (a big IF), then a few hundred hours of screen time should be enough to tell you if you are cut out.

One of the issues of course, is that people are more likely to spend 20 hours, become disillusioned, change course, spend 20 hours on that, become disillusioned, change course again and repeat until the process defeats them.
 
DionysusToast said:
But that's 1,250 days of screen time.

Or about 5 years full time.

Which means you somehow need to spend 5 years without any income to put in such a huge amount of screen time.

Who is in a position to do such a thing?

I know that prop shops expect their traders to get profitable with a lot less screen time than that.

I'm thinking that IF you know what to look for (a big IF), then a few hundred hours of screen time should be enough to tell you if you are cut out.

One of the issues of course, is that people are more likely to spend 20 hours, become disillusioned, change course, spend 20 hours on that, become disillusioned, change course again and repeat until the process defeats them.
Click to expand...

Well, there are various levels of profitable traders and not everybody will learn in the same manner, because we all perceive differently based on our own experiences.

In the first couple years you will learn how not to lose money,then you may start to make some(if you have some left :whistling) just to live on and continue the "screen time experience".

For serious money you need serious hours, specially if your initial capital is not that over extended. I do not think a few hundred hours will take us anywhere. We must keep in mind that we are not trying to take money out of the market, but out of very sharp traders.

Not everybody has an initial $100000 capital to start with.

50% a year on $100000 initial capital will just be enough to buy you your toilet paper.

50% a year on $5000 initial capital will buy you not even the thought of buying your toilette paper.

Investing in yourself lays the solution (screen time) to run up an initial $5000 account tenfold in less then a year, in my field of trading means scoring just 5 pips a day risking not more than 2% of capital on a 10 pip stop loss.(compound).

I know this statement is going to make many eyes roll over, and in my view that is due to the "knowledgeable years" experience.

Math is not a matter of opinion.

To be honest I do not care what others think (I have tried before to explain, just to get a very stubborn response specially from the most "experience traders", probably because their big ego is coming to play) and also I do not want to get in an endless debate of who has got the bigger nose, in-fact I consider those one of the reasons (bigger nose) that limits the view of the "knowledgeable traders".

What I do care about is to bring my work a step further observing my susceptibility for making errors and that maybe somebody else will see the message behind my posts that anything is possible in trading and not only.
 

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This is one of the few threads on this forum where I am listening to people with a very similar philosophy and outlook to trading that i have, fully agree with you mike.

Its all there for the right people and the land mines are there for the wrong ones, and teaching and others can only take you so far, state it to a boredom level but it is the modern day ultimate evolutionary test in virtually every skill set you can mention and the rewards are there.

You could ultimately sink or you could swim the channel, but it is a very personnel journey for some that see it that way.
 
Tayto_Crisp said:
Trading is simplistic but not easy. If it takes an individual 10000 hours or roughly 5 years screen time to learn how not to be simple minded then maybe you should consider another pastime. Personally I don't believe you spent 5 years on charts at a screen but if your wife believes you then so be it. Why not just admit your trading time was spent on webcam access in adultwork.com and your losses were to fund the habit of chatting to eastern european trafficked teenagers.
Click to expand...

Lol, is this meant to be funny or are you just stupid? Yes I think you are just and Irish idiot. I would not expect much more from your kind.

So that is what you do all day? That explain why you are such a loser trader, you cannot see the chart, because your screen is filthy, as a consequence of you constant satisfaction. What a moron.
 
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Tayto_Crisp said:
Trading is simplistic but not easy. If it takes an individual 10000 hours or roughly 5 years screen time to learn how not to be simple minded then maybe you should consider another pastime. Personally I don't believe you spent 5 years on charts at a screen but if your wife believes you then so be it. Why not just admit your trading time was spent on webcam access in adultwork.com and your losses were to fund the habit of chatting to eastern european trafficked teenagers.
Click to expand...

interesting revelation about your trading experience
 
There is an advantage in getting someone to teach you how to trade, but it is not impossible to learn trading all by yourself. May take longer knowing all the tricks by yourself, but certainly one can be successful going solo.
 
I think this is grossly unfair. I didn't spend above half of my 5 years on live sex cams. Probably no more than 20%, so there! I did spend another 40%* or so viewing traditional pre-recorded pornography, but still, you are wrong Sir! Very, very wrong!


*Estimated percentage. Percentages may be higher than estimated. Actual time spent viewing traditional pre-recorded pornography is in the range of 40% to 75%.
 
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And for your information, Mr-Know-It-All, my wife didn't mind a bit that I spent countless hours watching live web cams of trafficked Eastern European sex slaves. How do you think we met in the first place?
 
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new_trader said:
That counts as being self taught...I think anyway.
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Sorry, I should have explained - I had help from a professional. I was guided all the way (and indeed at times I would say had my hand held) by Mike Baghdady.

I felt I needed an expert to show me how - after all, I understand he was World Masturbation Champion 2009.
 
scose-no-doubt said:
Racism. Ban. Thanks for the heads up on the website though. Bookmarked.
Click to expand...

Yes, I am racist when I see Idiot like you offending others just for the sake of it, you must be his cousin. I remember now, you are the one with the big head and little balls offending me because my English was not perfect.
 
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