Quote from sneakoner:
- Finish reading "Reading Price Charts Bar by Bar" by Al Brooks (damn thing needs severe editing)
really good book for people who are experienced in the markets, but insanely hard to get through. don't use it until you're MUCH more advanced.
i'd look into kevin haggerty's materials. he's tradingmarkets, but all the materials found in his videos can be found elsewhere on the web for free - slim jims, etc. you want to find good reward/risk setups.
look at reward/risk for all your setups. either have a high % setup with 1:1 reward/risk, or a lower % setup with a 3:1 reward/risk setup.
don't take any position that can blow up your account.
if a trade "should" have worked, and doesn't, exit and wait for a re-entry point. it often will be a broken trade and you're getting out before the crowd does.
don't trade much during the dull hours.
there's plenty of good ppl around, but there are also plenty of marketers/authors/vendors who act as authorities but are failed traders. that's why i've cut down a lot of my posting here. (one comment on bone: i am NOT referring to him, since i'm stocks only, and he's doing spreads, so i don't know anything about him other than that).
Quote from sneakoner:
I'm still staying at my day job. But every minute of my free time has been devoted to trading (besides 1 hr for the gym 5 days a week).
that's good. don't go too insane with it, and when you start, keep your size small. if you get a few winners in a row, do NOT start adding huge size on!
you'll have to find something that works for your comfort level, and the only way to do that is to eventually start trading and see what works for you that you aren't emotional over the trade.
also, i may have a bias - i've found the stock market easier than futures.
