Almost everyone is lying. Because there's no such...

[ironchef]

if you want to learn, trade more not less.

if you do not want to lose money, if you love your money so much, trade sim.

actually, if you love your money, and not the challenge, you should not be in trading or pro anything...pro golf pro football etc

Fooled by randomness.

 

[smallfil]

Let us get real. Nobody is going to give you the secret sauce if that is what you seek. Why would anyone give you their edge when you are directly competing with them? Choose any book written by so called gurus, experts, etc. Most would give you snippets of their strategy. You never get the whole enchilada. That is reality because they will not tell you everything for the paltry price of their books or even the thousands they charge you to train you? Instead, follow the trend. There are trends on the short term, intermediate and longterm time durations.

 

[padutrader]

You gotta PRACTICE what you have learned. Even after you learn it and practice it and play it in real games you still have to go back to practice it again and again while you are getting ready and prepared for the next real game.

To learn something well may take 1-2 years.

But to have confidence in that what you have learned , to TRUST it , will take a lot more time and i feel many people ,not only in the trading world but also in Main street, NEVER ACTUALLY TRUST WHAT THEY HAVE LEARNED.

after doing all the analysis, you have to trust that and go confidently, if not the market will make you doubt everything.

In golf the pros used to advice TRUST YOUR SWING

SAME IN TRADING

 

[padutrader]

Nobody is going to give you the secret sauce if that is what you seek.

because there is no hidden secret

open your eyes see it.

 

[padutrader]

Fooled by randomness.

randomness is a joke

markets are not random: you mean to say GOldman Sachs sell and buy randomly?

if they are not random you can watch and figure out what they are doing

 

[GRULSTMRNN]

OMG, yes, we all got it, he dived into it, unprepared, naive.amd he lost money. He stated such. So what. His point was on dishonest sales people who claim they can teach beginners trading when in almost all cases they can't. He came here and exposed himself. Some of you people really have a stick up your assess, you kush and shut up when brazen snake oil salesmen come on this board and BS their way through life and into beginners' lives. Where are you with your bazooka when those scammers roam the threads? Nowhere. But then you vomit on the one guy who was honest and admitted he fucked up. Pretty fucked up priorities and sense of morals if you ask me

You reached your conclusions in two short years? Sounds like you bot systems and started trading them with real money right away and lost. Sure way to get busted. Any system you trade that was taught...or bot..gifted or one you yourself discovered you should first test over and over on a simulator. Over a period of time. If it won’t for you work on a sim it will not work for you with real money. Some people even backtest. In my style of trading I can’t. I have to forward test. I am a discretionary trader.

Once you see you can make it work on a sim then you test the waters with real money. That is where the psychological weaknesses...defects...will show up. Then you will have to learn to straighten all that out.

Back to sim as you work on that. Then test waters again. Over and over again. This way you are not throwing your money away to us ravenous traders here on Elite Trader while you learn. It takes time to learn trading and you can’t just let someone sell you an airplane then jump in the pilot’s seat and try to take off. You can watch pilots fly planes. You can study books on flying. Doesn’t mean you will be able to fly. You got to PRACTICE flying once you have the theory and knowledge down. You can watch football. You can watch every game a good quarterback plays. You can study football. Hundreds of plays and strategies. That, while perhaps necessary, doesn’t mean you can walk out on the field and start playing quarterback, or any other position. You gotta PRACTICE what you have learned. Even after you learn it and practice it and play it in real games you still have to go back to practice it again and again while you are getting ready and prepared for the next real game. You gotta keep yourself sharp. I know this may sound silly but rarely will I get up ..drink coffee..switch on the computer ..logon to my real money account..and start trading. I first logon to a sim and see if my brain and eyes can discern..read the markets..well enough to trade with profit for THAT day. That is, I practice my craft for a bit. Why should I just start throwing real money at it? Of course, I am a discretionary trader and even though the brain is a marvelous instrument but that does not mean it is always as sharp as it should be. It has to be tested each day. It doesn’t need to be tested with real money. Sim will work just fine. Once I swap over to my real account then I will very quickly be testing my psychological mettle for the day. If it is not working for me then best to shut down the computer and forget trading that day. Not all days are equal. Somedays it is like one can do nothing wrong. Other days it is like pulling teeth. The short sim practice and the first few real trades test my abilities for that particular day in the market environment for THAT day. Why throw money after something blindly. Preservation of capital is very important.

You may be broke having spent all on systems and trading but you can practice on a sim for a couple of years until you find your way and can zero in on what works best for you. It won’t cost you anything to sim but your time. In the meantime you start back over saving money and in a couple years build yourself a perhaps large enough supply of $$ to at least open another account and test out what you have practiced for sometime. I suspect many here have blown their accounts before and some multiple times before they became profitable. Being broke can go with this business! I have never blown my account and some of my tactics allow me to average down..a no no according to many traders and pundits.

To not pursue trading anymore is a personal decision but being broke is not a reason not to. One can always practice on a sim for a couple of years while building back their account for live trading.

Good luck

Gotta get to sim. The markets been open nearly 1.5 hours and I haven’t even tested my mettle out yet today before trading with money. But no problem as i usually find multiple trades through the day..

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[themickey]

hi, so I agree with the Fut's/ fx statement.

Can you enlighten me in regard to stocks ? Where do I begin, keep in mind I can catch on to the most advanced topics suggestions Thanks

Well just sit right down, i'll be able to explain half the theory in a couple thousand hours, make yourself a cuppa tea and get comfortable

 

[padutrader]

Dead Trader is also dead wrong

how long does it take to learn a language- English Chinese- fluently enough so that you can make money out of it?

How long does it take to learn the language of markets fluently?.

IN TWO YEARS YOU WILL LEARN THE ENGLISH ALPHABETS.

can you understand Dickens Wordsworth or any literature after that ?

did the teachers lie did they fraud their students?

It will take at least 10 years before ANY NORMAL STUDENT is fluent in any language.

DO YOU THINK THE LANGUAGE OF MARKETS IS ANY DIFFERENT?

 

[DaveV]

It will take at least 10 years before ANY NORMAL STUDENT is fluent in any language.

So in other words no child under 10 years old can be fluent in any language?

 

[Handle123]

What I have found with those who know how to program, most either take forever to learn or never get it. Yes, I know about quants, but their systems usually quit working in months. There is no science theories of price action, it is based on Volume (people) and those who do the most volume rule the roost. Trading is understand that buying low and selling high is most true clean statement there is. Trading is going against logical emotions and programming is "0 and 1", you trade long enough, you know the story of what people are thinking and doing in each pattern and some are forced with volume to attract those with less experience to enter, best game in the world once you understand. Once one understands, then you can program with clearer understanding.

The most advertised trainers are not trading, those with extensive colorful sites are spending time making new sites, people who trade make more in few trades than those who charge thousands, who the hell wants to deal with masses of people to water down one's methods. You have to grind it out day after day.