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Are you ready for this....?
- Thread starter Wannabe MKII
- Start date
Originally posted by daniel_m
well, sorry buddy, but that's not ENTIRELY true...
if you can find something that is working, nothing wrong at all with copying it....saves you having re-invent the wheel....
Should I butt in or not... hrrrmmm....
A breif one... Trading experience does lead you to understand what is working and what is not. Let's say you're looking for a good Greek novel in Greek. You'll have to be able to read Greek before you know it's good. Agree?
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Well, WannabeMKII. One thing we all are saying is, if you trade don't risk too much. Stay conservative. If you're not going to trade immediately then take sometime, get to know some traders and don't be hesitant for some help. Study and research what and how you would like to trade.
It's your money and it's your life.
Originally posted by WDGann
Should I butt in or not... hrrrmmm....
A breif one... Trading experience does lead you to understand what is working and what is not.
you're making out like i said trading experience is worthless...
i simply said the other poster's comment wasn't, i quote, "ENTIRELY" true....and it isn't...
sure, experience is EXTREMEMLY valuable...but if you can learn from something that is already working....DO IT!
WD Gann, in my opinion MK2 has little-to no hope of getting anywhere if he's so eager to jump into trading and start learning what works and doesn't work...
by his own admission he currently knows very little, therefore, i will post again what i did a few posts ago:
if could do it all again....i would come to ET, read all i could from the site (there is REALLY GOOD info here, you just gotta dig for it...and it's easier to find if you know what you're looking for, which isn't always the case for a newbie)....read books on the recommended list.....bug the hell out of people who sound like they know what they're talking about for information........
get a THOROUGH understanding of risk and the concept of expectancy (in short, the mathematics of trading)
.....and then just WATCH the market for at least six months....and preferably a year....THEN actually start with small lots and try out your ideas with real money....
seems like a lot to go through....and most people are probably chomping at the bit to place some trades.......BUT, if you're gonna be serious about trading, it seems VERY STUPID to me to come in and waste the customary 5-20k (at least) on hard knocks (and even then, depending on what kind of person you are, maybe still not learn anything..)....
by his own admission he currently knows very little, therefore, i will post again what i did a few posts ago:
if could do it all again....i would come to ET, read all i could from the site (there is REALLY GOOD info here, you just gotta dig for it...and it's easier to find if you know what you're looking for, which isn't always the case for a newbie)....read books on the recommended list.....bug the hell out of people who sound like they know what they're talking about for information........
get a THOROUGH understanding of risk and the concept of expectancy (in short, the mathematics of trading)
.....and then just WATCH the market for at least six months....and preferably a year....THEN actually start with small lots and try out your ideas with real money....
seems like a lot to go through....and most people are probably chomping at the bit to place some trades.......BUT, if you're gonna be serious about trading, it seems VERY STUPID to me to come in and waste the customary 5-20k (at least) on hard knocks (and even then, depending on what kind of person you are, maybe still not learn anything..)....
That's what I would do, too.
To condense what you wrote:
1. Seek help from other traders.
2. Study.
3. Trade and try it out.
I got mixed up with the tone of your text that you are against trading experience and trial and error.
But zcar does write about getting an edge and exploiting it. I interpret that as 1. and 2. above.
My bad though for taking your posts with doubt.
To condense what you wrote:
1. Seek help from other traders.
2. Study.
3. Trade and try it out.
I got mixed up with the tone of your text that you are against trading experience and trial and error.
But zcar does write about getting an edge and exploiting it. I interpret that as 1. and 2. above.
My bad though for taking your posts with doubt.
Originally posted by WDGann
Another brief one.
How would you suggest MK2 to differenciate what works and what doesn't?
Most traders won't reveal their secrets unless their is something in it for them. The best and fastest way for him to learn what works or doesn't work, is to get into a firm who will teach him. A firm that has other traders that trade other styles so the newbie trader could get a feel where the money is flowing consistently.
Originally posted by WDGann
1. Seek help from other traders.
2. Study.
3. Trade and try it out.
>>1. Seek help from other traders.
Okay. How? Like I mentioned earlier, a lot of people around here have had their heads bitten off for asking for help.
>>2. Study.
Okay. What? Many around here say books are almost worthless and that your method should come from inside of you.
>>3. Trade and try it out.
Okay. But many would prefer not to do this until they have completed the first 2. However, given that the first two are unlikely to produce much help, a new trader has almost no choice but to skip 1 and 2 and go directly to 3.
Originally posted by WDGann
That's what I would do, too.
To condense what you wrote:
1. Seek help from other traders.
2. Study.
3. Trade and try it out.
To condense what you wrote. <---------------
Originally posted by Long-Way-To-Go
Okay. How? Like I mentioned earlier, a lot of people around here have had their heads bitten off for asking for help.
Okay. What? Many around here say books are almost worthless and that your method should come from inside of you.
Okay. But many would prefer not to do this until they have completed the first 2. However, given that the first two are unlikely to produce much help, a new trader has almost no choice but to skip 1 and 2 and go directly to 3.
I think I answer all your comments with the other posts in here.