Article Before you start, have you got what it takes?

T2W Bot

Staff member
1,468 68
Are you a beginner? Before you start, have you got what it takes?
It is apparent that when starting out in the adventurous worlds of financial trading, that the complete novice and beginner can, within minutes of his first post on T2W, trot down the wrong road, due in no small part to the advice so readily given by enthusiastic members imparting their own beliefs and experiences. Just today a newcomer posed the question: I?m new, what trading platform should I have? Within minutes a reply was posted by a prolific poster, buy XYZ platform it?s only ££s and you can get data feed at only ££ per month!
The thread continued, try this, and try that, and I imagined this person already starting to think that if they can get a great trading platform half their battles are over. Well sadly they are already on the slippery slope to dismal failure and frustration. To commit yourself to any financial commitment in the beginning, already places you into the ?I must trade quickly to recoup my...
Continue reading...
 
Last edited by a moderator:

Rhody Trader

Senior member
2,620 264
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.
 

Zenda

Well-known member
491 10
Absolutely Fact

chrisw said:
7'000 for a trading session!
He did a weekend course and one full day 1 on 1 training session for his £7K name of Rip off Merchant supplied by PM only - :cool:
 

the blades

Experienced member
1,336 275
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
 
Last edited:

sadude

Newbie
9 0
I was very disappointed in the trend following book. Just a load of waffle .
Douglas,s book by contrast i take everywhere.
 

trendie

Legendary member
6,453 1,081
"3. Trading in the Zone by Michael Douglas"

Does Catherine Zeta know about this !!

I am sure it is Mark Douglas.
Good article.
 

frugi

1
1,827 125
Thanks trendie, well spotted. I've now changed it to spare Mark the intolerable cruelty of being confused with Gordon Gekko. :)
 

Zenda

Well-known member
491 10
Oops

frugi said:
Thanks trendie, well spotted. I've now changed it to spare Mark the intolerable cruelty of being confused with Gordon Gekko. :)
Oops Sorry I meant Mark, but then I have a thing about Catherine Z J !! :confused:
 

commanderco

Well-known member
363 7
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.
 

neil

Legendary member
5,167 747
A long and winding road (for some of us)

commanderco said:
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.
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
363 7
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.
 

Simon Gordon

Active member
126 1
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.
 

bakula

Junior member
40 0
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!
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock