all novices:before you start trading read this

SimpleMeLike said:
padutrader,

Here is the problem with trading, and it all relates around Quality Verified Consistent Profitable Trading Education:

NOONE , or it is very rare for whoever is teaching , advising, posting on this forum, giving recommendations have provided any proof of trading records to show they are profitable.

View attachment 202706

If you a new trader search google for how to trade Google will return 2 Billion websites with information. What human being has the time to review 2 Billion website to learn how to trade.

In my personal opinion, anyone who is NOT profitable trading SHOULD NOT be offering advice or recommendation how to trade on the internet or in person.

AND THIS is the problem.

I am an UNPROFITABLE trader. I have no business offering anyone advice on this forum how to trade, besides your butt better try what ever you think works with paper money first. I should only be asking for advice and verifying the advice with PAPER MONEY to determine if the advice have a consistent way of trader.

New traders take advice from people, deposit money in trading account, and start trading instantly. Then they lose.

There is even advice on the forum telling new traders to avoid paper trading, and go straight cash trading. lol
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all good points....

As i said earlier you have the right temperament to be a good trader

the thing is one shirt will not fit all.....same.... even if someone is profitable that trader's method may not suit the novice.

and all methods have to be practiced and practiced so that all the idiocracies of the market may be learnt .....in the markets a is equal to b most times but sometimes it is not so ...all this has to be experienced so that the novice can deal with it.
Traders have to develop their own style and not blindly follow somebody's method
 
SimpleMeLike said:
padutrader,

If you a new trader search google for how to trade Google will return 2 Billion websites with information. What human being has the time to review 2 Billion website to learn how to trade...
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To be fair to Google, you did a search for any of those words.

Try the exact phrase..

google.JPG

But your point is understood.
 
SimpleMeLike said:
In my personal opinion, anyone who is NOT profitable trading SHOULD NOT be offering advice or recommendation how to trade on the internet or in person.
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that will disqualify all those teaching.
and a profitable trader will not have time inclination or emotional energy to deal with the demands of a student.
 
Scataphagos said:
Trading successfully is doable.
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that is like saying playing golf is doable.
of course it is .
but can it be done so good to earn a living at it? be a pro at it?
that needs temperament,dedication,hard work financial support and good coaching.
 
padutrader said:
that is like saying playing golf is doable.
of course it is .
but can it be done so good to earn a living at it? be a pro at it?
that needs temperament,dedication,hard work financial support and good coaching.
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Not a good analogy.

Proficiency at golf requires "physical ability" to execute.

The "physical aspects" of trading only involve clicking a mouse. Anyone can do that. The difficult part of trading is "between the ears".
 
SimpleMeLike said:
padutrader,

Here is the problem with trading, and it all relates around Quality Verified Consistent Profitable Trading Education:

NOONE , or it is very rare for whoever is teaching , advising, posting on this forum, giving recommendations have provided any proof of trading records to show they are profitable.

View attachment 202706

If you a new trader search google for how to trade Google will return 2 Billion websites with information. What human being has the time to review 2 Billion website to learn how to trade.

In my personal opinion, anyone who is NOT profitable trading SHOULD NOT be offering advice or recommendation how to trade on the internet or in person.

AND THIS is the problem.

I am an UNPROFITABLE trader. I have no business offering anyone advice on this forum how to trade, besides your butt better try what ever you think works with paper money first. I should only be asking for advice and verifying the advice with PAPER MONEY to determine if the advice have a consistent way of trader.

New traders take advice from people, deposit money in trading account, and start trading instantly. Then they lose.

There is even advice on the forum telling new traders to avoid paper trading, and go straight cash trading. lol
More...

Even the best traders lost monies and blew up accounts at some point of their lives. They are not ashamed to say so! What they did that changed it for them is they had a trading journal and reviewed their mistakes and corrected them. In addition, they have strict risk management rules that they follow. I do not care if you have a $100 million, if you do not have any risk management in your trading, you will lose all your monies. Look at OptionSellers.com. They controlled how much, over $100 million and lost it all? What about Long Term Capital? Timothy Sykes lost a good chunk of his hedge fund monies, most of it his friend's capital, some his own because he did not have any risk management. If he did, he would have cut his losses and saved his monies! Probably, he could have grown his hedge fund. Instead, he had to close it. If you are trading in the stockmarket and do not control your risk, you will not last long enough to figure everything out! Proper risk management will keep you in the market until you figure it out!
 
smallfil said:
Even the best traders lost monies and blew up accounts at some point of their lives. They are not ashamed to say so! What they did that changed it for them is they had a trading journal and reviewed their mistakes and corrected them. In addition, they have strict risk management rules that they follow. I do not care if you have a $100 million, if you do not have any risk management in your trading, you will lose all your monies. Look at OptionSellers.com. They controlled how much, over $100 million and lost it all? What about Long Term Capital? Timothy Sykes lost a good chunk of his hedge fund monies, most of it his friend's capital, some his own because he did not have any risk management. If he did, he would have cut his losses and saved his monies! Probably, he could have grown his hedge fund. Instead, he had to close it. If you are trading in the stockmarket and do not control your risk, you will not last long enough to figure everything out! Proper risk management will keep you in the market until you figure it out!
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smallfil,

Let's pretend I am a new trader what an interest in trading, I am reading your post.

Here is my questions to you:

What does proper risk management mean?

What does risk management rules mean?

What does control your risk mean?
 
padutrader said:
that will disqualify all those teaching.
and a profitable trader will not have time inclination or emotional energy to deal with the demands of a student.
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padutrader,

Exactly! If a profitable trader wants to teach a student, he/she should charge them or kindly give them free advice. The problem is most trader just say stuff and do not show examples of what they are talking about.

Its like an Electrical Engineer telling an Electrician "Go wire up this 24V power supply to this 50amp load, AND AND makes sure you don't blow it up and you shut down all the lights in the company"

Too much talking, and no examples. And this why new traders are lost and lose the money.
 
smallfil said:
Proper risk management will keep you in the market until you figure it out!
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i never bothered with risk management.
if my strategy is wrong i wanted to be blown.
everybody wants something different.

today i trade
i do not make loss
i have a 100% win rate.

there are many ways to trade to do things
 
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