mias said:I have to agree with some of you new members on this thread. Invaluable info and I think the biggest danger to me is information overload.
Soaking in hours of reading and trying to find what works for me is a bloody nightmare.
It's all down to sifting what's useful. After a gap of a few months from t2w and only looking at the last 30 days in all the boards I'm interested in took a couple of days.
Yes, it's effort and it's time - and it's going to save you losses - no matter how experienced you are/are not.
I'm a 'newbie' with 6 years trading under my belt and some fairly catastrophic exits from the market.
Put in the time here and you'll save in the long-run.
As for making all those expensive mistakes in the beginning, I'd much rather use that money elsewhere.
I don't think there is a shortcut - you will still 'need' to make those mistakes. The important ones are the ones you've read about, heard about and even know you're making them WHILE you're making them. I'm not so sure you can bypass that process.
There's nothing like reality for ramming a lesson home!
Challenge for the more experienced traders out there;
:idea: what about trying to organize an open-day kind of thing where you allow new people to come and see how you put into practice all that has been said on these boards...? :idea:
Not a training course to teach you the basics of trading but more a day of sit in the corner and look at how it's done in the real world.
There would probably be very little in it for you. Each trader has markedly different views on just about everything (just check out the discussions/debates on these boards). You wouldn't be able to form any coherent picture of process or style and it's unlikely most traders could verbalise why they're doing what they're doing WHILE they're doing it.
I really do not believe there are any shortcuts. Read. Trainings. Maybe even 1-2-1 if you can afford it. Paper trade. Start small real trades. Watch the risk. Cut the losses.