How can I gain 50 years trading experience?

P

ppwall

Hi, all!

I spent 2 years learning trading futures, and lost 1/3 of my capital in less than 3 months.

That's not a good start.

The problem is I don't have enough experience, even I have read lots of books. Well, I am still young, 29, but it does not make sense if I can make a profit after 50 years struggling, too old to be successful...:-P

How can I obtain that 50 years experience, which I believe will be more help than reading more books, any body knows?

Does simulator software of trading history markets helps? Is there any such software for sale?

I don't need complex system, however, it should meet the basic requirements:

1. enough historical data to trade, like 20 years
2. has simple indicators to observe, like Candle, MACD, KDJ or alike
3. review the trading process, so I can see where the problem is

So much as I can think of...Please be kind to help...thanks!

PPWALL
 
Quote from ppwall:



How can I obtain that 50 years experience, which I believe will be more help than reading more books, any body knows?

Does simulator software of trading history markets helps? Is there any such software for sale?

I don't need complex system, however, it should meet the basic requirements:

1. enough historical data to trade, like 20 years
2. has simple indicators to observe, like Candle, MACD, KDJ or alike
3. review the trading process, so I can see where the problem is

So much as I can think of...Please be kind to help...thanks!

PPWALL
More...


Here is exactly what you are looking for http://www.turtrades.com And it is free. You can get years worth of experience in just hours. If you need help using this software just ask and I will try to help.
 
Quote from ppwall:

Hi, all!

I spent 2 years learning trading futures, and lost 1/3 of my capital in less than 3 months.

That's not a good start.

The problem is I don't have enough experience, even I have read lots of books. Well, I am still young, 29, but it does not make sense if I can make a profit after 50 years struggling, too old to be successful...:-P

How can I obtain that 50 years experience, which I believe will be more help than reading more books, any body knows?

Does simulator software of trading history markets helps? Is there any such software for sale?

I don't need complex system, however, it should meet the basic requirements:

1. enough historical data to trade, like 20 years
2. has simple indicators to observe, like Candle, MACD, KDJ or alike
3. review the trading process, so I can see where the problem is

So much as I can think of...Please be kind to help...thanks!

PPWALL
More...

Why didn't you trade with a simulation account first? Do you have a trading plan? If so post it. If not, make one. First step of your plan: no trading with real money until you have shown at two consecutive months of profit with your simulation account.
 
Quote from ppwall:
How can I obtain that 50 years experience, which I believe will be more help than reading more books, any body knows?

Does simulator software of trading history markets helps? Is there any such software for sale?
More...
My experience has been that there is no path you can take that will assure that you become successful. Some people trade all their life and never make it. How then can you know whether it's worth a try? The answer is that you may never know. Most people who try, simply lose interest. They find trading too hard.

Be careful with simulated trading. Simulators are fine for learning to enter orders, etc, but they're highly misleading for predicting how well you will do with real money at risk. It's better to trade with real money keeping it small.
 
I am going to guess how you "learned" to trade futures and recommend a different path. Were you using canned indicators? Trying to emulate a supposed expert trader? Winging it with intuitive brilliance? Go back to basics. Subscribe to a data service that also provides backtesting capability. Start testing simple and/or conventional ideas. When you have run through all of those, try weird stuff. Bingo! After a few years.
 
Quote from rwk:


Be careful with simulated trading. Simulators are fine for learning to enter orders, etc, but they're highly misleading for predicting how well you will do with real money at risk. It's better to trade with real money keeping it small.
More...

True, other than a 'procedures trainer' sim trading is not much help.


I read a story that had gamers hooked up to an MRI doing brain scans while they were playing a game.

Half of the group only played to 'score points'.

The other half of the group received a small financial reward for successful play.

The research showed that even though the game was the same, the difference in goals caused the game mental processing to be completely different.

When you are sim trading you are training a different part of the brain that is used with 'real money'. Years of sim trading will be almost worthless as it does not use the same part of the brain uses in 'game play' for real money.

If you want to exercise the part of the brain that you will use in real trading then open a micro-fx account and trade with very small size. 1 pip = 10 cents. Scale up as your trading improves. Slowly progress from Euro micro to Euro 1 lot to YM and ES.

Good trading


p.s. Detailed research in
http://www.amazon.com/Inside-Invest...=sr_1_4?ie=UTF8&s=books&qid=1279905223&sr=8-4
 
Sounds very helpful to solve my headaches....I can see opening a small account is much better than simulation.

The software you suggested helps a lot, I will try it.

About the learning curve, I think it may depends how seriously you think of simulated training. If I take it as a real battle, it must give me more sharp nerve to sense the price changes.

If I made success in historical simulator, then I will test with live simulator, then small live account, then much bigger one...

Years? I guess, that's not the focus. Profiting is.
 
Quote from ppwall:

Hi, all!

I spent 2 years learning trading futures, and lost 1/3 of my capital in less than 3 months.
More...

I know some people who blew up their account in a matter of 3 days. so relatively speaking, you did not do very bad.

I started when I was 26 and by 30 I have realized the importance of risk management (after I blew up a few small accounts). Trade small but you will never become very rich from trading. You can make some good money though. You need a system that has a good profit factor, a good risk management method and you must follow the system.

For risk managment these articles (free stuff) are must reads:

http://tinyurl.com/2c2gzq6

http://tinyurl.com/2c7kng2

Do not start trading before reading them and understanding them.

For developing a trading system you ought to use an automatic procedure. Trial-and-error can take years and it is a waste of time nowadays. There are a few programs that will search data for systems based on your own criteria and then generate code in native language for a variety of platforms.

This is very expensive but has many capabilities: http://tinyurl.com/372anjz

This is limited to price patterns or what I call micro-patterns: http://tinyurl.com/37h8366

As far as following your system, this problem can be partially solved with automation but it takes some serious programming work.

These are the 3 steps to success, or variations thereoff. All else leads to disaster, like discretionary trading, TA, news trading, etc.
 
Quote from ppwall:

Hi, all!

I spent 2 years learning trading futures, and lost 1/3 of my capital in less than 3 months.

That's not a good start.

The problem is I don't have enough experience, even I have read lots of books. Well, I am still young, 29, but it does not make sense if I can make a profit after 50 years struggling, too old to be successful...:-P

How can I obtain that 50 years experience, which I believe will be more help than reading more books, any body knows?

Does simulator software of trading history markets helps? Is there any such software for sale?

I don't need complex system, however, it should meet the basic requirements:

1. enough historical data to trade, like 20 years
2. has simple indicators to observe, like Candle, MACD, KDJ or alike
3. review the trading process, so I can see where the problem is

So much as I can think of...Please be kind to help...thanks!

PPWALL
More...

You know, that is a very good question.

As for me, I'm a little bit more ambitious. Would someone plz tell me how to gain 100 years of experience instead?
 
Quote from ppwall:

Hi, all!

I spent 2 years learning trading futures, and lost 1/3 of my capital in less than 3 months.

That's not a good start.

The problem is I don't have enough experience, even I have read lots of books. Well, I am still young, 29, but it does not make sense if I can make a profit after 50 years struggling, too old to be successful...:-P

How can I obtain that 50 years experience, which I believe will be more help than reading more books, any body knows?

Does simulator software of trading history markets helps? Is there any such software for sale?

I don't need complex system, however, it should meet the basic requirements:

1. enough historical data to trade, like 20 years
2. has simple indicators to observe, like Candle, MACD, KDJ or alike
3. review the trading process, so I can see where the problem is

So much as I can think of...Please be kind to help...thanks!

PPWALL
More...
==============
P-Trend-Wall;
Well, long story short, pay attention to 50% off & 50 dma.

Also , i only have about 25 years +/ trading /investing experience;
but i do listen to some with 50 years+/..................

Actually , loss of 1/3 of capital in 3 months, look at it this way;
no way that market is random-I also did far worse than random, early on . Funny but true.LOL:D

Wisdom is profitable to direct;
trade something smaller like DIA,SPY, or QQQQ,
until you learn to trade.
If i did it over again, sure i would keep records[which i did] ;
but not leverage ignorance.:cool:
 
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