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

[maxinger]

do they teach you that all markets do is: move,pull back, move again?

that is one line !
why do they write millions of words or make 1000s of videos to confuse the fuck out of you?.
so that you have to pay for it...can they charge for one line?

it is a blessing in disguise actually.
it means it is easy to cleanse one's mind

if they teach thousands of things,
then it is very challenging to decontaminate one's mind.

 

[padutrader]

if they teach thousands of things,

they do teach thousands of things....

which book or video has one line?

if you think right, trading is the best thing in the world

 

[Ghappy21]

Dear Overnight, I suggest the extensive and free course at www.marketlife.com. It is based on the book Art & Science of Technical Analysis.

The Pullback trade is the most common and generally the most successful (or easiest) trade. There is quite a bit of detail in building a successful trading plan and developing the market "feel" or intuition to make money and contain risk on PB trades. This course addresses how to be successful in PB trades.

This course and book is about how to be a very good trader, and using the PB trade as the foundational trade.

Buying the book is not required. This is a great course and it is amazing that it is free. The course is serious work and takes time. It is about training you to be a good trader and not just "copy this trade".

Best of luck-

 

[carlaherrera]

So far, his advice "I would trade small..." is some I'm regretting not adhering to.

Trading a small account is more difficult than trading a large account. The latter I feel is buffered against the mistakes that result in unexpected losing streaks. Small accounts don’t come with such a buffer.

 

[olivemckenzie]

Trading a small account is more difficult than trading a large account. The latter I feel is buffered against the mistakes that result in unexpected losing streaks. Small accounts don’t come with such a buffer.

A mere risk to reward ratio and win to loss ratio calculation can save the small accounts from losses if used correctly. Doesn’t mean it’s not better to trade with.

 

[nickolelo]

I can agree on him on certain points like fresh traders should start small. They have not much idea about trading so it’s better that they start with a small amount and then move forward. You never know what trade can go wrong and you end up losing that trade. That would be more disheartening and demotivating.

 

[nickolelo]

A mere risk to reward ratio and win to loss ratio calculation can save the small accounts from losses if used correctly. Doesn’t mean it’s not better to trade with.

I believed what you said but it was only after I traded a small account with fxtm and realized that undercapitalized accounts are not just difficult to trade with, but the success rate is also very little.

 

[olivemckenzie]

I believed what you said but it was only after I traded a small account with fxtm and realized that undercapitalized accounts are not just difficult to trade with, but the success rate is also very little.

Not denying small trading accounts are difficult to trade with, but, if done correctly there isn’t any reason these can’t be profitable. I trade a small account with turnkey forex and apply the one percent rule. Believe me this strategy acts like a buffer against the mistakes and losses just the way a large account does. And I can say this because I’m trading higher amounts with IB and understand the risk involved.