1) Buy and hold isn't really safer no matter what people say about it.
2) Don't watch market news shows. Especially that mealy mouthed pig fucker Jim Cramer.
3) Don't listen to morons who say TA doesn't work because some eggheaded economics professor at university of failure said there was no "scientific proof" behind it. The only science you need as a trader are methods that provide results. Everything else is garbage or white noise to be filtered out.
4) Start out trading small and work on developing your own pattern analysis. Read a few books that go over the very basics of TA but experiment to create your own recognition through trial and error. Experience is everything. The vast majority of books out there contain maybe 10% of useful material and most of it is stuff you can find for free.
5) Shut out the advice of acquaintances or friends who don't know shit about the stock market but think they do.
6) Discipline is huge. Most people are undisciplined that's why trading has a 95% fail rate. Around the same number of people who fail to make it in other high stress high discipline jobs.
7) Start out practicing or trading the index and learn how the market moves.
8) There is no such thing as easy money in the beginning. Hold on to your balls because they will get pounded with a mallet until you figure things out.
9) When things start to make sense and you start turning a profit don't let it feed your ego, fear, or guilt. Have confidence but remain indifferent.
10) Manage your time and money wisely.
11) Self criticism and keeping a daily trading journal for yourself is important.
2) Don't watch market news shows. Especially that mealy mouthed pig fucker Jim Cramer.
3) Don't listen to morons who say TA doesn't work because some eggheaded economics professor at university of failure said there was no "scientific proof" behind it. The only science you need as a trader are methods that provide results. Everything else is garbage or white noise to be filtered out.
4) Start out trading small and work on developing your own pattern analysis. Read a few books that go over the very basics of TA but experiment to create your own recognition through trial and error. Experience is everything. The vast majority of books out there contain maybe 10% of useful material and most of it is stuff you can find for free.
5) Shut out the advice of acquaintances or friends who don't know shit about the stock market but think they do.
6) Discipline is huge. Most people are undisciplined that's why trading has a 95% fail rate. Around the same number of people who fail to make it in other high stress high discipline jobs.
7) Start out practicing or trading the index and learn how the market moves.
8) There is no such thing as easy money in the beginning. Hold on to your balls because they will get pounded with a mallet until you figure things out.
9) When things start to make sense and you start turning a profit don't let it feed your ego, fear, or guilt. Have confidence but remain indifferent.
10) Manage your time and money wisely.
11) Self criticism and keeping a daily trading journal for yourself is important.
