Education Resources? Train Someone To Trade!
- Thread starter metoo
- Start date
Johno: Got it, KISS principle. Sometimes we just can't see the forest for the trees. I have reflected much upon my errors. I've been spending sixteen hours a day putting together a plan. Much of my problem was coming into the markets with preconceived notions about what the market would do that day. Big mistake. It cost me a bundle. The market is bigger than me. I need to learn to go along for the ride. Now perhaps my tuiton is paid up or at least I'm on my way. I appreciate your response regarding spammer's and such. I've thought quite a bit about this understanding that trader education is a multi billion dollar a year busiess and they usually do not have our best interest at heart. For some I'm sure that's how they make their living but I also beleive there are some quality people out there. I guess the reality of it is if they could teach a system why would'nt they use it themselves but then again to some money is not everything. Thanks!
JScott: I will be looking at the puretick system next week. I do have my reservations however. With the volume informaton that is out there today I don't really see the benifit at this point but maybe I'll at least learn something. Are there any others traders out there who can speak positively for this system? If something is really good I beleive many will have great things to say about it. As I contemplated other educational resources I ran searches for reviews across three different search engines with absolutely no information available. When something is really good word gets around. If not, that's a red flag to me. Trader education is a multi billion dollar a year business. Thanks
Trading = dogfight
I really donât see trading as a dog fight â itâs just trading (business)⦠I do what needs to be done, as is appropriate at the time, and then move on⦠Always detached, and in the moment.
Mentor
No Sir â way too much ego and âone up man shipâ involved for my liking.
I know my limitations and desires â to that end I can only offer my views â sometimes they helpâ¦. other times they ainât worth crap.
But Iâll talk trader to trader with anyone â any day of the week. We may agree, we may agree to disagree, but more importantly I may learn something.
My chart layout
Price in multiple time frames
1 to 4 â horizontal lines I keep updated regularly
An EMA to help keep my point of reference
Nothing else
Volume
I use volume to ensure enough intraday liquidity, and (very â very sparingly) on a daily / weekly basis.
At times I may bring it up when I think an intraday âVâ reversal, or an exhaustion gap has occurred (a security blanket of sorts because most of the time I just trade it and price tells me if I am correct)
My philosophy
Price will do what price will doâ¦. My job is to be a beagle dog and stay on its butt by envisioning where it may go next.
My suggestion for your focus
Truthfully I donât know because I do not view the market through your eyes
My ignorant opinion
Focus on âabsolutelyâ knowing;
When and how you will trade
When and why you will enter a trade
When and why you will exit a trade
AND
Solidifying a methodology which tells you what price is doing, and what price is likely to do next
Having said all this I would also add â listen to/ trust no one (including me). Trust and listen only to yourself.
To me â Trading is a journey, not a destination Sir..
I wish you a very successful journey
RN
Hi metoo,
Regarding books, one that I would recommend is - The 33 strategies of War - by Robert Green.
Particularly the chapter on Grand Strategy. ( A Holistic approach )
The first step toward becoming a grand strategist- the step that will make everything else fall into place- is to begin with a clear, detailed, purposeful goal in mind, one rooted in reality. We often imagine that we generally operate by some kind of plan, that we have goals we are trying to reach. But we're usually fooling ourselves; what we have are not goals but wishes. Our emotions infect us with hazy desire: we want fame, success, security- something large and abstract. This haziness unbalances our plans from the beginning and sets them on a chaotic course. ......
Overall I agree with RN and therefore don't repeat his comments, by carefully considering our thoughts you will realize the common thread we share is in fact the application of grand strategy. It is imperative that you determine what is and who does speak bullshit before you move one step forward.
Good luck in the quest
Johno
Regarding books, one that I would recommend is - The 33 strategies of War - by Robert Green.
Particularly the chapter on Grand Strategy. ( A Holistic approach )
The first step toward becoming a grand strategist- the step that will make everything else fall into place- is to begin with a clear, detailed, purposeful goal in mind, one rooted in reality. We often imagine that we generally operate by some kind of plan, that we have goals we are trying to reach. But we're usually fooling ourselves; what we have are not goals but wishes. Our emotions infect us with hazy desire: we want fame, success, security- something large and abstract. This haziness unbalances our plans from the beginning and sets them on a chaotic course. ......
Overall I agree with RN and therefore don't repeat his comments, by carefully considering our thoughts you will realize the common thread we share is in fact the application of grand strategy. It is imperative that you determine what is and who does speak bullshit before you move one step forward.
Good luck in the quest
Johno
A continuation,
Grand strategists think and plan further into the future before taking action. Nor is their planning simply a matter of accumulating knowledge and information; it involves looking at the world with a dispassionate eye, thinking in terms of the campaign, planning indirect, subtle steps along the way whose purpose may only gradually become visible to others. For the strategist it has the psychological effects of calm, a sense of perspective, flexibility to change in the moment while keeping the ultimate goal in mind. Emotions are easier to control; vision is farseeing and clear. Grand strategy is the apex of rationality.
I've just given you my approach to speculating in the markets if you choose to follow thru you will find this to be an excellent frame of reference. Remember it's all in the mind, how you think not what you think! But be warned it takes a long time to master and some people never do. As with RN I too am still a work in progress.
Regards
Johno