Advice to a newbie

[bigbear]

this is the first one to read. as old as it is - the lessons still apply today. fun easy reading. you will probaly read this many times in your trading career.

Congrats on the MBA. I am working towards mine too. It does not teach you anything about trading though. I think that is what most are trying to say. It is a lot easier than trading is.

 

[Osman]

Quote from EtfTrader:


Everything you read in this game will be wrong. For if it was right, there will be millions of wealthy traders in this world.

i've had the same experience with much of my learning off of books and even many lectures.

once i had started my real world training, i had to spend the first months throwing wrong/obsolete book knowledge out of my mind and learning what i see on the screen.

that being said, i highly recommend 'the disciplined trader' by Douglas. its a psychological trestise but one i refer back to every other month even now

 

[Everest]

Quote from Osman:

i've had the same experience with much of my learning off of books and even many lectures.

once i had started my real world training, i had to spend the first months throwing wrong/obsolete book knowledge out of my mind and learning what i see on the screen.

that being said, i highly recommend 'the disciplined trader' by Douglas. its a psychological trestise but one i refer back to every other month even now

I agree, but reminisances is still awesome

 

[Everest]

The best advie I can give you is a take a week to read all these books, the replies on this post, and then start your own thread telling us what you think of the markets with this plethora of experience.

 

[1st_samurai]

Quote from Oldtimer:

It has been my experience that those seeking an MBA to serve as a catalyst for changing their lives, anticipating moving into bold new directions as soon as they can hang those three letters on their wall, are sorely misguided and typically disappointed at the outcome.

Those, however, who are in an industry where they bump their heads against the top of their capacity for upward mobility, and seek an MBA in order to further themselves in the same career are the ones who are more successful as a result of receiving the degree.

One other thing, about jealousy of those who have more education than they. If it's not one thing, it's another. Better education, better job, better wife, better car.

Work on yourselves, people. It's the petty jealousy and unhappiness with your own lot that leads to emotional trading.

ot

That's very excellent insight into education and psychology. That's the same stuff I hear from people with experience as well as from my own.