all novices:before you start trading read this

smallfil said:
A real trader atleast, should be able to show you some setups. A lot of the You Tube videos do!
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set ups are not a reason to take the trade....they are to manage the trade.
context is always the reason.
the same set up may be a buy or sell depending on the context.

a set up is just a pattern of bars it is definite

it is or it is not.

it is certain.

TRADERS love set ups because they want certainty.

they think this makes their profit certain so they concentrate on set ups;teachers concentrate on set ups: it is easy to teach.

it will work sometimes as long as you have trade and money management. which is why everyone swears by money management

context is abstract and traders shun it.

there is a bear context and a bull context.

also context depends on the time frame.....a trading range in 5 min may be a part of a correction on a larger time frame.

a strong bear move on a 5 min may be a may be a bull correction or flag on a hourly or daily.
another reason to hate and shun context

trading is not certain and fraudsters always will say profit is certain and all you have to do is wait for a set up.

YEP they are setting YOU up

good traders decide and trade one context...bull or bear.

great traders trade both: one context is valid now and another later.

the bull and bear country borders are a reality and to make good trades you have to be aware of them.

both bull and bear live in harmony in the market.

trade in harmony...do not be a pig...no brains

only rush to eat
 
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smallfil said:
So, we are back to square one and you have to fend for yourself. If you have some experience trading, you would probably, have already backtested strategies and know which ones work for you and which ones don't. Then, when watching You Tube videos on trading, you will be able to pick up nuggets of wisdom from other traders. You do not have to buy anything. One such trader, Adam Khoo said something that resonated with me. He said "we as traders must trade like a casino." What does that mean? It means if you have an edge like the casino has, you just have to have enough trades to end up profitable. You would not care which trade worked and which one did not. Each trade having the same weight as the next one. This ties up perfectly to risk management when trading. Never risk more than 2% based on numerous studies on trading. That is so you do not blow up your account. Some traders bet the farm including the cows, pigs, chickens, etc. because they think a setup is perfect, everything lines up and cannot lose this trade. So, after putting 60-70% of their monies on one trade, it fails and they suffer very large losses and mentally, shell shocked to boot!
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smallfil,

I honestly do not mind paying for a quality trading education. It is an investment in my trading skills and long term trading quality. However, I will not invest in any education where the author/trainer/guru has not proven to me he/she makes/made money trading for X amount of years. If I can not see him/her trading live, they are NOT getting my money. That will be a waste of good time and money. It's really just that simple for me.

I think this should be common sense. But maybe some of you guys are rich or something.
 
trading is judgement and time frame dependent.

a bear set up may show up, after a swing up, and you have to judge, which time frame this set up belongs to, a shorter time frame or a longer time frame ...
if it belongs to a shorter time frame then it will trigger a corrective bear move which will probably not get far and reverse with great enthusiasm.

it cost me 12 years and 100 00 usd to understand all this.

also i had to dig out of a mountain of rubbish that i was buried under- why did i get there? because the internet said i would find great treasures there.I think all this disinformation was and is spread by GS:D
 
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padutrader said:
contrary to belief that exists.....but you will not be able to see it.
I can, if you give me 5000 usd, tell you how to see it.

invest in a mirror and stand in front and look into it.

that is your quality education
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LMFAO HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHHA that's a good laugh. That sounds like an expensive cost for just one sentence. lol hahahah. I will send it right over .
 
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SimpleMeLike said:
LMFAO HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHHA that's a good laugh
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laughs are good

educate yourself

stick to trading sim or trade live but keep trading.

fall off a cliff a 100 times and then you will recognise a cliff.

get bitten 25 times and you will know a dog when you see one.

that is the way i learnt

that is the only way

you have to see it with your eyes....what i see with my eyes is only good for your laughs
 
SimpleMeLike said:
smallfil,

I honestly do not mind paying for a quality trading education. It is an investment in my trading skills and long term trading quality. However, I will not invest in any education where the author/trainer/guru has not proven to me he/she makes/made money trading for X amount of years. If I can not see him/her trading live, they are NOT getting my money. That will be a waste of good time and money. It's really just that simple for me.

I think this should be common sense. But maybe some of you guys are rich or something.
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I was just referring to what he said that I thought was insightful and had value. Did not buy anything from him. Not recommending the guy or his methodology. Do not see any value in paying for trading education from this guy. What I learned about trading, I learned on my own. Of course, I made a lot of mistakes along the way. Still, I will pick up nuggets I get from watching trading videos on You Tube if I believed it would help make me a better trader. Why not, it is free and being offered by them?
 
every time you fall off the cliff, the whole of ET will laugh.

every time a dog bites they will call you stupid, why go near a dog.

that is what they did to me.

but what did I do to me? I made myself the great trader.....and I will continue to make myself the greatest trader that has ever walked the world.

but you are welcome to walk with me
 
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