how long does it take?

Quote from EGOT:

Great post, good concepts for anyone wanting to succeed.

It took me 3 yrs to develop a system, and another year + to get past everything else I had learned so I could follow the system with complete trust.
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Thanks,
I have personally found that trusting my system and method, was (and is) my biggest obstacle. I truly feel like when I am past this point, it will be a matter of "grab a bat, wait for a good pitch, swing". I am hoping all the demons of sweating out every tick will be gone. A big part of it for me was to see the big picture and trade within that.
Pete
 
Quote from funky:

about 3 1/2 months. you're right, once you can write the rules down and explain it to someone else, you are on your way. i am now at the stage of being able to follow my rules. it is a trust thing and most importantly it is an experience thing. the more you trade, the bigger the picture you will see. once you can see the forest from the trees, your trading will improve dramatically.

ever wonder why it is so easy to look back at charts and pick out your trades? its because it forces you to see the bigger picture. when you are trading during the day, you MUST find a way to enforce this view. i am currently trying to narrow my trading to a few select times during the day -- effectively 'closing business' during the slow periods. i noticed that the longer i'm sitting at the computer screen staring, the easier my discipline breaks down. by only trading certain times, i will give myself time to clear my head, refocus my strategy, and execute the way i should.

good luck!
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Post #326(Resinc.):
But ... WHY do You HEAD-BANG ?


ttrader
 
Quote from trend456:

Wow,

...there's just so many things to learn. I still think I'm a newbie.
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Post #327:
I don't think it's us that we are newbies, it's ore the stock market, thec hart...


ttrader
 
Quote from daytraderpete:



Thanks,
I have personally found that trusting my system and method, was (and is) my biggest obstacle. I truly feel like when I am past this point, it will be a matter of "grab a bat, wait for a good pitch, swing". I am hoping all the demons of sweating out every tick will be gone. A big part of it for me was to see the big picture and trade within that.
Pete
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I found the best thing for me to do is GET AWAY from the screen after I place my stop and exit. Then use alert settings and a timer to get me back in time to tighten my stop or review my target.

My system is based solely on the 5 min chart and decisions are based on the close of the bar only- so I only need to look at the chart for 30 sec out of every 5 mins while in a trade, and after tightening to -1.50 or sometimes breakeven there is nothing to do until target or stop is hit.

The less I "watch" each tick the better I do, and the greater the level of ease and confidence I experience.

Try some stretching exercises or something productive in your "down" time. You did your work in developing a winning system, now let it work for you!

Good luck
 
Quote from EGOT:

so I only need to look at the chart for 30 sec out of every 5 mins while in a trade, and after tightening to -1.50 or sometimes breakeven there is nothing to do until target or stop is hit.
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Yes - I often go in the kitchen once a trade is on and do some cooking or make tea or do the washing up or whatever, and just let it run and look in every now and then just to find out what happened.

Best
Natalie
 
It took me many years to figure out my current trading strategy.

I think the most valuable lesson that I have applied to trading that I got from another source was..."no matter how many books you've read, no matter how much thought you put into something, unless you are doing it, you don't really know it."

I read tons of books but wasn't applying what I knew. The books don't mean anything unless you use them. I use to read Reminscinses of a Stock Operator just to brush up on key points, then forget half of them. Now, I take out the key quotes and review them on a regular basis.

Your trading improves the moment you decide you want to become a great trader. You make a real decision. Tony Robbins was a big influence in this area for me. For years I had not done this.

So, in my mind, I pictured what this great trader would be doing. Not only would he have a bookshelf full of classics, but he would go over the classics a few times a week if needed. He would have a list of trading rules, and he'd follow them to a tee. He would have a trading journal and write down his observations. He would constantly improve. He developed a passion for the game. His office would inspire him with stock memorabilia, classic newspaper headlines etc.

Take it the nth degree. This vision gave me something to strive for. Above all, you've got to be really interested in this stuff. That's essential.
 
The biggest problem most traders have is not lack of plan or techniques (after all it is a no brainer to look at the charts and see when is a good time to enter), the biggest problem is fear of a loss, lack of trust in what one sees.
 
Quote from jbtrader23:

It took me many years to figure out my current trading strategy.

I think the most valuable lesson that I have applied to trading that I got from another source was..."no matter how many books you've read, no matter how much thought you put into something, unless you are doing it, you don't really know it."

I read tons of books but wasn't applying what I knew. The books don't mean anything unless you use them. I use to read Reminscinses of a Stock Operator just to brush up on key points, then forget half of them. Now, I take out the key quotes and review them on a regular basis.

Your trading improves the moment you decide you want to become a great trader. You make a real decision. Tony Robbins was a big influence in this area for me. For years I had not done this.

So, in my mind, I pictured what this great trader would be doing. Not only would he have a bookshelf full of classics, but he would go over the classics a few times a week if needed. He would have a list of trading rules, and he'd follow them to a tee. He would have a trading journal and write down his observations. He would constantly improve. He developed a passion for the game. His office would inspire him with stock memorabilia, classic newspaper headlines etc.

Take it the nth degree. This vision gave me something to strive for. Above all, you've got to be really interested in this stuff. That's essential.
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Thats a great post. Attitude plays a huge role.
 
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