New to trading.

[karlino]

Hi Everyone,
I have been looking into trading for a number of months now , and to be honest i think my No1 down fall would probably be the emotional side of things that go along with trading,
I was looking at this system for sale called The Net Trap system, and it explains that all the hard work is done for you, apparently you make your trade in the morning between 6.30 and 8.00 am, I am willing to buy books and everything else to go along with having to learn the trade , but i feel if i can get just an early taste of success, and control the EMOTION side of things I am pretty sure i can build on that note, So has anyone tried this net trap system , and would anyone recommend it for a total novice like my self , It is by Richard Hill.
Many thx

 

[tomorton]

Welcome karlino - Discipline is 80% of trading, knowledge is 20%. There's a long thread on here plus various other comments on Richard Hill's Net Trap system - worth loking at these before going any further.

Of course, you don' t have to pay money for a workable system, there are plenty available for free.

Many critics would say that no systems are worth buying. If a trader has to sell a system to make money, they can't be a good trader, and why buy a system from a failed trader? And if they really are a good trader, why do they need to bother trying to sell a system?

You can only be disciplined by learning to discipline yourself, and you can only learn that by actually trading. Start with a simple free system with clear rules. Trade it with real money for long enough to see if it matches your ambitions and abilities: enhance one rule at a time if it is a near match. Concentrate on controlling risk per trade and not losing money per week until you're consistently making money per month. Then expand your positions and even seek out an additional system.

 

[karlino]

Thx for your advise highly appreciated

 

[galeonbaster]

Hi Everyone,
I have been looking into trading for a number of months now , and to be honest i think my No1 down fall would probably be the emotional side of things that go along with trading,
I was looking at this system for sale called The Net Trap system, and it explains that all the hard work is done for you, apparently you make your trade in the morning between 6.30 and 8.00 am, I am willing to buy books and everything else to go along with having to learn the trade , but i feel if i can get just an early taste of success, and control the EMOTION side of things I am pretty sure i can build on that note, So has anyone tried this net trap system , and would anyone recommend it for a total novice like my self , It is by Richard Hill.
Many thx

You are right. emotions are very important. It is 90% of success! To buy books is also good idea. - There is a lot of free stuff in web. Anyway, wish you good luck.

 

[karlino]

You are right. emotions are very important. It is 90% of success! To buy books is also good idea. - There is a lot of free stuff in web. Anyway, wish you good luck.

Thx

 

[McMathews]

Well one of the success in trading resides on having control of one's emotion. Psychology is also essential part in trading as we may get trapped in bad decision due to emotions which provoke us during certain stages. We cannot carry on without being motivated and desire to excel.