T2W Bot
Staff member
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Rhody Trader
Senior member
Each new trader needs to ask a number of questions of her/himself, and answer them honestly before taking on the serious task of trading.
the blades
Experienced member
A decent enough article...yet I was surprised to find another advocate of Covells "Trend Following" book - probably my biggest disappointment of a book purchase (pages and pages of proof that trend following works which I already knew).
Then again, maybe if the aim is to convince beginners of this, it may add to the cause.
UTB
Then again, maybe if the aim is to convince beginners of this, it may add to the cause.
UTB
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commanderco
Well-known member
I do not expect that my journey is any different from any other Trader.
It began with information overload.
It continued with information & technical overload.
It began to develop as I reduced the vast pile of information.
It became profitable as I focused and listened to the message of the markets.
It will hopefully continue as I become a "market whisperer"
Looking back, I do not know any other way of achieving profitability in the markets.
If I told all the Newbies to link up to a free charting service and begin by manually calculating 2 or 3 indicators and learning the relationship between HLOC on different time frames, I am sure that within a matter of days most of them will have spent money on courses, packages, books etc.
It is a natural selection process.
You need to learn to trap the Tiger before the little bugger kills you.
It began with information overload.
It continued with information & technical overload.
It began to develop as I reduced the vast pile of information.
It became profitable as I focused and listened to the message of the markets.
It will hopefully continue as I become a "market whisperer"
Looking back, I do not know any other way of achieving profitability in the markets.
If I told all the Newbies to link up to a free charting service and begin by manually calculating 2 or 3 indicators and learning the relationship between HLOC on different time frames, I am sure that within a matter of days most of them will have spent money on courses, packages, books etc.
It is a natural selection process.
You need to learn to trap the Tiger before the little bugger kills you.
neil
Legendary member
A long and winding road (for some of us)
I recognise the above described journey: reading everything, looking at all the indicators etc, etc. Then coming full circle and realising that KISS rules ok. In my case support/resistance and a few other bits (price action being paramount) thrown in. It seems the road to success is necessarily long in the case of many people and you fight off charlatans and grail sellers along the way
commanderco said:
I recognise the above described journey: reading everything, looking at all the indicators etc, etc. Then coming full circle and realising that KISS rules ok. In my case support/resistance and a few other bits (price action being paramount) thrown in. It seems the road to success is necessarily long in the case of many people and you fight off charlatans and grail sellers along the way
commanderco
Well-known member
Neil,
Dear boy I can feel your pain from here.
One more thing that I forgot mention, is that this journey was quietly driving my darling Wife mad.
In order to protect her from my shortcomings, I began work at 4 - 5 am every morning and I mean every morning.
These early rises at ungodly hours eventually got to her as well, but fortunately our account became profitable and by some mysterious force the profit took her pain.
She was cured and I became a hero.
Viva la profit !!
One last point to Newbies.
When you "hide" a stop in an obvious place, it is God´s way of providing abundance.
Dear boy I can feel your pain from here.
One more thing that I forgot mention, is that this journey was quietly driving my darling Wife mad.
In order to protect her from my shortcomings, I began work at 4 - 5 am every morning and I mean every morning.
These early rises at ungodly hours eventually got to her as well, but fortunately our account became profitable and by some mysterious force the profit took her pain.
She was cured and I became a hero.
Viva la profit !!
One last point to Newbies.
When you "hide" a stop in an obvious place, it is God´s way of providing abundance.
Simon Gordon
Active member
It's a long dark tunnel and newbies need as many pieces of logic given to them as possible.
Cheers for the article.
Thank you.
Cheers for the article.
Thank you.
I think that this is very down-to-earth advice, thank you!
Actually....buying expensive software was the first thing i did! I wasted the whole years subs as i couldn't use it---too much info and technical terms for a novice....anyway, a year on....i am now trading and am succesfully using the software etc...but i wish someone was there to give me wonderful advice such as this BEFORE i got started...so, if u r a newbie....don't just read but undertstand and learn from the article....andddd....good luck!
Actually....buying expensive software was the first thing i did! I wasted the whole years subs as i couldn't use it---too much info and technical terms for a novice....anyway, a year on....i am now trading and am succesfully using the software etc...but i wish someone was there to give me wonderful advice such as this BEFORE i got started...so, if u r a newbie....don't just read but undertstand and learn from the article....andddd....good luck!
Racer
Senior member
'We only prepare,
just so much as we deem enough. I understand,
he said: yet I may and must pray to the gods to prosper my
journey from this to that other world--may this, then, which
is my prayer, be granted to me. Then holding the cup to his
lips, quite readily and cheerfully he drank off the poison.'
Phaedo
just so much as we deem enough. I understand,
he said: yet I may and must pray to the gods to prosper my
journey from this to that other world--may this, then, which
is my prayer, be granted to me. Then holding the cup to his
lips, quite readily and cheerfully he drank off the poison.'
Phaedo
TheSpikeyCrow
Member
Market Whisperers of the world, unite!
If I told all the Newbies to link up to a free charting service and begin by manually calculating 2 or 3 indicators and learning the relationship between HLOC on different time frames, I am sure that within a matter of days most of them will have spent money on courses, packages, books etc.
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Commanderco - great comment.
Do you or any other experienced traders out there have any recommendations to newbies on a good free charting software to opt for? Plan to progress onto a subscription-based charting package once the vast profits roll in :cheesy: but for now I have to keep within my (rather modest) means.
If I told all the Newbies to link up to a free charting service and begin by manually calculating 2 or 3 indicators and learning the relationship between HLOC on different time frames, I am sure that within a matter of days most of them will have spent money on courses, packages, books etc.
------------------------------------------------------------------------------------------------------------------------------
Commanderco - great comment.
Do you or any other experienced traders out there have any recommendations to newbies on a good free charting software to opt for? Plan to progress onto a subscription-based charting package once the vast profits roll in :cheesy: but for now I have to keep within my (rather modest) means.
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