i have spent the last 2 hours reading this thread from beginning to end. at page 41 i find myself at one conclusion. The Expert has parted with pertinent information that every aspiring trader needs to brand in their minds. if you want to have any chance at consistency, the LAST thing you should ever do, is hang onto words of someone who knows as much about trading as paris hilton knows about physics.
By following this guideline, you will avoid self embarrassment when you realise the taste in your mouth is from the chewing of cryptic bull**** you have been attempting to assimilate, and merely washing it down with a glass of water doesn't part with the taste. like everything in life, some like their cheese on a plate while others prefer it on a stick with olives and little red things that have no name. everyone makes their money differently, some make it on feeding the bull**** to aspiring minds, some sell 2nd hand cars, some traders make money off TA, others make money off logic and fundamentals.... the question you should really be asking is why is there so much bull**** in the first place
Well well, it is nice to see that someone has finally come out and said what needs to be said, good on you forker, you appear to know what one needs to know.
I will now add to your astute observations.
Trading is a fools game, but only if you are a fool. The only way a trader is going to become successful, and the level of success is relevant to how serious the trader is about trading, is by experience trading live markets, no matter what the market of choice is.
There are NO EXPERTS, FULL STOP.
What we have is, people trying to justify a reason for a decision that they have made either being right or wrong. Who cares about the reasons, for what really matters is the outcome itself.
If you are making money then ignore what every idiot on the web is posting, including The Expert
However, depending on what market the trader has chosen, one can of course learn about how certain aspects work best, for instance, a buy order must be submitted via electronic means and there are several ways of submitting that order electronically, and, some traders just make money by submitting orders in a certain way, again, this was learned from experience, not from being showed how it is done, for one can be shown that in a very short time.
So, in summary, decide what YOU want out of trading, set some simple objectives with time targets, review the objectives and adjust accordingly as per feedback, set new time targets, and repeat the cycles until you are consistently profitable at the level you have set for yourself.
If you are happy with $2K per month then fine, but make sure your plan only risks money you are willing to lose, for if you trade with money you can not afford, you might be in for 1 big surprise, especially if you are using big leverage.
Also, make mental notes of the info that you can relate to, but validate it first as best as you can. For eg, I mention Barry Rudd's book, with some useful info, and some not so useful. The useful part is the bit where you see narrow trading range near the H/L of day for a period of time, as this ties in with another useful part that I read some years ago, I can't remember the author but I definitely rememebr the words, and they are as folows, "narrow range bars are always followed by wide range bars".
In essence what they are describing is contraction and expansion, which is nothing more then trading activity. Prices will not stay stagnant for too long a period:cheesy:
Trade what you see, Not what you think you see:clap:
BTW, I am still The Expert:smart:
