Advice for all the noobs who want to be a full time trader...

Overnight said:
He was laughing because he finally realized that for his entire life he's been bathing in the Ganges where half the country shits and pisses.
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That's NOT a nice statement, and quite insulting towards @padutrader

Funny thing, every time I see you post, with Cramer as your profile photo @Overnight

I think of a complete loser (I can hear his voice!!!)...

PS. I know you are :)
 
ChipShotTrader said:
That's NOT a nice statement, and quite insulting towards @padutrader...
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You can ask me a question about padu three times, like, is padu an honest person, and I will give you the same answer three times. NO.

I spent the time to speak with him, and I fell for his BS. He seemed a nice person on the VOX chat. And I thought it was a language barrier thing where he was misunderstood. But then I started reading deeper into his posts afterwards, and remembering what he told me, and watched the advice he was giving people on the forum, and then found out his journal was fake....

Nah man. I know enough about the man, and have watched his stupid micro-FX lot trades failing in his sweatbox of a room with the poor lighting, to know he is not worth any intellectual discussion.

Remember. This is a person who says that because he has been studying whomever's books for 20 years and learned nothing, means that NOBODY should study books. THAT was his advice for trading padawans. Sorry you were not privvy to that side of the story. But there you are.
 
Overnight said:
You can ask me a question about padu three times, like, is padu an honest person, and I will give you the same answer three times. NO.

I spent the time to speak with him, and I fell for his BS. He seemed a nice person on the VOX chat. And I thought it was a language barrier thing where he was misunderstood. But then I started reading deeper into his posts afterwards, and remembering what he told me, and watched the advice he was giving people on the forum, and then found out his journal was fake....

Nah man. I know enough about the man, and have watched his stupid micro-FX lot trades failing in his sweatbox of a room with the poor lighting, to know he is not worth any intellectual discussion.

Remember. This is a person who says that because he has been studying whomever's books for 20 years and learned nothing, means that NOBODY should study books. THAT was his advice for trading padawans. Sorry you were not privvy to that side of the story. But there you are.
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GOT IT...

You win, and I fully accept it...

I will eat some weed brownies, aka "bhang" with @padutrader, and laugh for 12 hours, straight. Then, we will shoot up speedballs...
 
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goslow said:
Unless one can trade consistently and profitably in a simulator, don’t use real money. Of course that takes time. Good news is that simulator trading also provides adrenalin, which may have been the real purpose of trading. More good news is that simulator trading lets you explore position sizes, strategies and holding periods that your current real account will not.
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This is the most sensible advice I have seen on ET in a long time -- IF you use an accurate simulator like Sierra Charts that executes a market sale at the bid and a market purchase at the ask, AND lets you specific the precise commission for each trade, AND provides you with a plethora of statistics on your trading results.

If you do this until you are consistently profitable and have proven your edge you do not need to lose a ton of money trying to learn. Then you only have one problem left -- Converting to a live account with real money -- Not necessarily an easy problem to solve but at least you start with a strategy that you know will work.

It always amazes my why so many on ET have such disdain for simulated trading as a learning tool.
 
Overnight said:
whomever's books for 20 years and learned nothing
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Don't remember clearly, yet saw on Real Vision a guy, who, according to him, read 3000 books for trading/investing. Then he made a conclusion (a discovery (?)), that it's best to be back at using 50/200 SMA or smthng like that.

Again, might be that he spoke about someone else. Whatever.

*** Real Vision ***
(c)​
 
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