Brand new traders..........read this

Quote from lilduckling:

...like a baby duck (a reference in one of the Market Wizards books) and believing thats the only way....and not be able to adapt or change with conditions later. Its fatal. Its what almost happened to me................hence my screen name


:(
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hey, is that you on the right? :D

<img src="http://i7.photobucket.com/albums/y251/rusty_nutz/ohnoes1.jpg" alt="Image hosted by Photobucket.com">
 
Most excellent post, Agree 100%

I'll take 20 losses that get smaller and smaller but when the winners come along, you have to be in prime position to take advantage.

In this day and age... screw your system the hedge funds, and other program traders will eat it alive...

you have to take control of what you can an that is the amount traded per trade
 
Quote from jumbojack:

hey, is that you on the right? :D

<img src="http://i7.photobucket.com/albums/y251/rusty_nutz/ohnoes1.jpg" alt="Image hosted by Photobucket.com">
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My bet would be on the duckling that followed all the other ducklings. Thank God they all float in storm drains that come out somewhere. It's tough being a city duck at best.
 
this is a good post.

The other thing is follow the rules. Dont have 2,3, or 10 good trades in a row and think you know something, so you can skip some of the rules, cause thats when you get bit.


ps: Samson, what negativity? Living in NJ, I barely noticed.
 
Quote from Samson77:

Excellent post but sadly you will not find true support here in ET.

The enviroment here is bitter and always aguementitive 90% of the time.

If Bob says he is making $ scalping off 123's on the NQ , John will call him an idiot because scalping is stupid.

I just don't get it?

Why not say great Bob congrats, I'm a swing trader that trades trends or whatever!

For some reason the traders in here are very weak minded towards different approaches to markets and ways of trading, they always feel threatened or fearful for some stupid reason, insecurity I guess.

ET has improved recently but it's still far from a helpful place for new traders.
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Samson - there are several traders here who do help others. You for example, helped me recently. Thanks :)
 
Quote from zdreg:

ET was intended for experienced traders. (do you mix elementary school students with college students?)
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zdeg - I think that was just a good .com name and Baron grabbed it fast. :)

How many real ELITE traders do you think there really are in this world?

1000 max.

He couldn't sell to much ad space with that few.



Trader2be - Your welcome :)
 
Next;....looking for / asking around older, successful traders for their exact specific way they make money.....FORGET IT!
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I disagree with this particular point. For me it worked great. A premise is probably that general rules are teached and not too specific trading systems.
 
After you have climbed the incredible hill and you are there you will find out with awe that M.Douglas' mantra is true:

"You don't need to know what is going to happen next in order to make money"

You take a few years to find out that you don't need to know what everyone says you must know!
 
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