Just signed up on a whim. I love that there's a "training" log section here. I've been powerlifting & running for a few years now, & being able to log my progress has helped a lot. I learnt two things - consistency, & applying basic principles in a way that fits your own unique circumstances is the best way to keep improving. I hope that I can apply the same kind of thinking to trading. I have absolutely no knowledge at the moment though, so I need to do a lot of lurking before anything. Any basic advice is much appreciated. Cheers.
2017 Log.
- Thread starter Weetbixer
- Start date
Your constitution seems strong regarding your physical body training. You'll need it for your mental trading training. As you say...Just lurk, but never be afraid to ask questions.
The dumbest question ever is the one never asked.
You got it, I like it, consistency and basic principles. I can adapt to different markets or different rules as long as I have identified my basic principles and apply them consistently. And I think those principles vary and sometimes are polar opposites for different traders.
I could tell you my personal principles but they would just sound like mottos you can read in any trading book. The details of execution are always being tweaked but the underlying principle is always the same.
Thanks guys.
Yeah, once you've figured out what those principles are, actually applied them, & seen consistent success life becomes a lot easier. That's how it was for me with lifting. The first part of the journey seems to be gaining knowledge (12 months+), & then once you've got that understanding actually applying it & getting a concrete feel for what that knowledge means in the real world outside of your head by consistent application (12 months+ again). Once there you can really start adapting your strategy to suit your own personal strengths, weaknesses, proclivities etc which is when the magic seems to begin.
Yeah, once you've figured out what those principles are, actually applied them, & seen consistent success life becomes a lot easier. That's how it was for me with lifting. The first part of the journey seems to be gaining knowledge (12 months+), & then once you've got that understanding actually applying it & getting a concrete feel for what that knowledge means in the real world outside of your head by consistent application (12 months+ again). Once there you can really start adapting your strategy to suit your own personal strengths, weaknesses, proclivities etc which is when the magic seems to begin.
Well said. What knowledge is it you are looking for at this point?
At the moment I'm just reading through logs to pick up bits & pieces of wisdom, but I need to learn absolutely everything. I'm used to trusting my intuition re: basic long term trends & using only very basic mathematical knowledge when buying stock & going long for years +. I don't know anything about day trading. So I guess the software used, how to read trends, how to extrapolate probability from that & other really basic groundwork is what I need to develop.
Day trading is just a result of margin. Many traders only trade during the day when margin is lowered and get flat before the close so they don't have to cover the overnight margin. Otherwise, you are only talking about time. I probably learned more about short term trading from listening to Warren Buffet.