easiest money in my life

[zghorner]

When you trade live do losses have a pretty negative impact on your mood?

 

[Mo06]

for simplicity, for some time perhaps it may be considered to trade only one side. be bull or a bear. i think that makes sense to avoid over trading.

over trading is one of the biggest mistakes made in trading.

paper trade on historical charts and check out how it feels like

If there was one piece of advice I'd give a new trader starting out it would be:

Forget about going short, concentrate on the long side.
Shorting is a particular skill set.

Become a great long side trader first.

 

[SunTrader]

If there was one piece of advice I'd give a new trader starting out it would be:

Forget about going short, concentrate on the long side.
Shorting is a particular skill set.

Become a great long side trader first.

Disagree.

Learning trading skills, like any job takes time and effort.

A carpenter doesn't say let me first learn how to measure something, then at some point how to cut it. Later still how to nail it in place.

 

[hilmy83]

If there was one piece of advice I'd give a new trader starting out it would be:

Forget about going short, concentrate on the long side.
Shorting is a particular skill set.

Become a great long side trader first.

Disagree.

Learning trading skills, like any job takes time and effort.

A carpenter doesn't say let me first learn how to measure something, then at some point how to cut it. Later still how to nail it in place.

Example of why nobody can learn anything in forums
guy 1: do this
guy 2: no do this!
guy 3: just click click

noob: let me pay $500 for this course...

 

[Mo06]

Example of why nobody can learn anything in forums
guy 1: do this
guy 2: no do this!
guy 3: just click click

noob: let me pay $500 for this course...

The key to my post was the phrase ' a new trader starting out'...

I'd go further:

A new trader should:

Concentrate on the long side.
Specialise, trading one market.
Specialise, trading one setup.
Get really, really good at the above.

Later, they can broaden their trading strategies, if this is necessary.

All just IMHO.

 

[deaddog]

If there was one piece of advice I'd give a new trader starting out it would be:

Forget about going short, concentrate on the long side.
Shorting is a particular skill set.

Become a great long side trader first.

I would probably give you the opposite advise.
As a short side trader you are more likely to take your losses quickly.
As a long side trader you are more likely to turn a trade into an investment to avoid the pain of a loss.

 

[semperfrosty]

Disagree. The humor (sometimes sorta) fits the topic.

I crack up when he says his trading mentor Mel Brooks.

 

[semperfrosty]

Good Evening ironchef,

I never read Market Wizards and never ever will and have no clue on earth is Schwager is. And damn sure not reading Zen and the art of trading.

I do not know how I trade sir, I trade whatever I feel like doing whenever I feel like doing when the market is open and make money. I have no trading plan or trading method or any of that stuff. Risk management, discipline all that pie in the sky marketing bullshit being sold to other people. I do not believe in any of it.

I have no trading plan, no trading journal, no nothing, no trading method, no paper, no notes, no NOTHING. If I feel the instrument I am starring at will make profits, I enter buy or sell button. That is it. If I feel I am wrong, I exit for a loss.

Everything is based on what I see and how I feel about what I see.

That is it. I do not read trading books, I do not studying trading courses. I do not do anything of that waste of time stuff and damn sure I am not back testing nothing.

I stare at the chart and click buy and sell button and make money.

That is it. Nice and simple. Then I log off and go do other fun stuff with my time, like chat with you guys and play call of duty.

At least read Market Wizards! Jesus!

 

[semperfrosty]

long aussie usd buying rate and stop on chart. destination and target unknown.View attachment 328612

I dont like it.

Youre in too late imo.

Your stop is at a level that the market is likely to return to.

Good luck anyway.

 

[semperfrosty]

If there was one piece of advice I'd give a new trader starting out it would be:

Forget about going short, concentrate on the long side.
Shorting is a particular skill set.

Become a great long side trader first.

Agree.