training courses

Jan 28, 2006
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#1
Hi all u experts :cool: ,

I need some help locating good training courses on trading. I know its been often said that the best training is by just doing it, but i've been trading for a while and it seems to be going nowhere :confused: . I lose some and I win some. but nothing significant. I think its a lack of knowlegde really. I've read loads of books and picked up a few pointers, but it all goes hazy when it comes to real time aplications. I think I need some coaching. Any tips would be appreciated.

cheers

TH1971
 
Jan 28, 2006
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#3
wheezergeezer said:
this may get you started, www.clickevents.co.uk, the nasdaq traders workshop maybe agood a starting place. good luck...........

thanks WG

i've also come across learntrading.co.uk. Books wise i've read The UK Traders Bible which is pretty good and a couple of books by Jim Rogers on commodities. i think some of the articles and posts on this site are helpful too. Just need to come up with a good trading plan. Any ideas hannibal?

TH1971
 

Charlton

Well-known member
Nov 23, 2003
1,501
325
93
#4
Just look within

th1971 said:
Hi all u experts :cool: ,

I need some help locating good training courses on trading. I know its been often said that the best training is by just doing it, but i've been trading for a while and it seems to be going nowhere :confused: . I lose some and I win some. but nothing significant. I think its a lack of knowlegde really. I've read loads of books and picked up a few pointers, but it all goes hazy when it comes to real time aplications. I think I need some coaching. Any tips would be appreciated.

cheers

TH1971
TH
I'm sure that you can pick up tips at the varous training curses available. Beware though - many are based around a particular product and are not generalised training courses. You might like to attend many of the freebies available at e.g. clickevents, because they will give you a flavour of the style of the speaker and the course content. You may also pick up a few tips there. At such a free event they will not give too much away - they want you to sign up. However it might start to turn on lights in your mind. You should consider reading this site and trading books also.

However all of this is mechanics. You say that you are confused and going nowhere, so you need to work on yourself first. Do you have a plan ? - search for trading plans on this site. If you don't have a plan how do you know where you are going, what you are trying to achieve and whether you have reached that goal. How do you measure performance and analyse your weaknesses.

Examine your past trades and ask yourself why did they not go to plan ? To answer this question you need to be able to provide some measures, some statistics? If you can't do that then you start to see the reason for your confusion.

You think that someone can teach you not to be confused ? Will they not add to the confusion by giving you conflicting messages ? If someone can teach you not to be confused, would 1000 teachers make you 1000 times less confused ?

You already have everything you need to be a successful trader within you, if you can harness it. There have been discussions on this site before about whether you can become a trader or are born to it. If you are able to look within and do this self-analysis first then you stand the chance of success. If you can do this then you were probably born to do this in any case. You cannot teach someone to be self-critical.

Time spend on this activity would be more useful than endless searches for the latest strategy, software, training course etc

Good luck

Charlton
 
Likes: timsk
Jan 28, 2006
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#5
Charlton said:
TH

...........

You think that someone can teach you not to be confused ? Will they not add to the confusion by giving you conflicting messages ? If someone can teach you not to be confused, would 1000 teachers make you 1000 times less confused ?
..............

Charlton
thanks Charlton.

I think you went a bit Confucious on me there, (but i know what you're saying).

I started to take a more active interest in trading in October 2005 and managed a 30% gain on my investments by the new year. Thinking I could do it all, I managed to lose that and more,halving my investments by mid jan this year - when the market seemed to do nothing but go up my shares droped. Now I'm back and even. and still sane. i've taken a back seat for a week to re-evaluate and work out my strengths/weaknesses.

The only reason I started this this thread is because I had no previous experience of trading. I had taken a mild interest, but nothing of note. before october my last share purchase was in c.2001 when I sold out of a low Marks and spencer (they were 181p once) and bought Vod(253p).(Ouch!). But i took that and learnt from it but never traded until oct last year.

I've developed a plan now and I hope to stick to it. That's the hardest part.

thanks again, and i'll need the luck.

TH1971
 

barjon

Well-known member
May 6, 2003
10,046
1,472
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#6
th1971 said:
..................I've developed a plan now and I hope to stick to it. That's the hardest part...............



TH1971

th1971

I was quite surprised to see that you had developed a plan since your earlier posts made it sound as thought you were searching for a trading direction. Did you come across the Trading Plan article in the Knowledge Lab when you were browsing the site - http://www.trade2win.com/knowledge/articles/general_articles/trading-plan-template/ - since working through it will raise all the essential questions that need to be answered.

Apologies if your plan is such a document.

Good trading

jon
 
Jun 6, 2003
780
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acfx.com
#7
My two pennys worth

The problem I had was I kept trying to find a majgc formula. This does not exist. You need to decided what you are going to trade and in what time frame.

Try sticking to one market and follow it. In terms of information, T2W gave me a great deal of help.

There are a couple of threads in here like No Indicators revisited, Skim what do you think of this, and some monthly emini threads where I learned a great deal from China White, Sanpiper and Skim.

IB have some good web seminars

Try,
Good seminar on price action. hosted by Dam Gramza. He is a good speaker who keeps you interested.
http://www.interactivebrokers.com/en/general/education/webinars/cme-1-30-2006.html

I would try to learn Price and Volume trading from the start but I have a feeling you will fine this difficult. I still find it difficult. I would therefore decide on two indicators, an Oscilator and a Trend follower.

Good luck
 

Charlton

Well-known member
Nov 23, 2003
1,501
325
93
#8
th1971 said:
thanks Charlton.

I think you went a bit Confucious on me there, (but i know what you're saying).

I started to take a more active interest in trading in October 2005 and managed a 30% gain on my investments by the new year. Thinking I could do it all, I managed to lose that and more,halving my investments by mid jan this year - when the market seemed to do nothing but go up my shares droped. Now I'm back and even. and still sane. i've taken a back seat for a week to re-evaluate and work out my strengths/weaknesses.

The only reason I started this this thread is because I had no previous experience of trading. I had taken a mild interest, but nothing of note. before october my last share purchase was in c.2001 when I sold out of a low Marks and spencer (they were 181p once) and bought Vod(253p).(Ouch!). But i took that and learnt from it but never traded until oct last year.

I've developed a plan now and I hope to stick to it. That's the hardest part.

thanks again, and i'll need the luck.

TH1971
It seems as if you are not so confused after all, as you seem to be taking the right steps. The template that Barjon recommended is excellent and well-worth using. As Stoploss said there is a lot of free information on the web, especially this site and it's worth sticking with that, before splashing out on expensive courses which may not be suitable in any case. I could recommend a couple of books: Come into my trading room by Alexander Elder (contains info on trading psychology) or John Murphy's Technical Analysis are oft quoted on this site. For a really basic, but clear and readily available introduction to TA there is (don't mock !) - Technical Analysis for Dummies

Stoploss suggested that you start studying price and volume and thought you might find it difficult. I am not sure why he finds it difficult. It might be a perceptual thing -some people work better with visual data in the form of charts and patterns, whereas others may prefer mathematical data. However indicators are one level removed from price and volume and therefore one level removed from the reality of the market. You will find that many on this site do not use indicators. Stoploss rightly points to the thread No Indicators Revisted.

It wasn't entirely clear from you post whether you were using money managment tecniques in your previous trading, but if not then take a look at calculation of risk/reward, stoploss and other aspects of it. Again there are threads on T2W on those subjects as well as information in the books and articles quoted in your thread.

Hopefully you will have enough to start analysing what wasn't happening as you would wish before.

Charlton
 
Jan 28, 2006
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#9
Thanks charlton,stoploss,barjon,

That trading plan article is excellent. I have been re-evaluating and I must admit my plan was nowhere near as comprehensive as that suggested. It was more like a few ideas in my head. I did keep a journal, but that was not kept upto date. I was not re-assessing at the end of every day or week. I think the biggest problem was I did not treat trading as a business, that needs to be run efficiently and with clear objectives. I had moved away from my strentgh which was trading stocks on the FTSE to trading the US indices and FX markets (areas I was unfamiliar with). I didn't even employ a stoploss on certain trades, which in hindsight was stupid.

However, all said and done I haven't lost faith in my abilities just yet! I hope to start trading again soon with more discipline and rules I intend to stick to. thanks again for the advice/articles.

TH