How to avoid being one of the 90% of small traders lose
- Thread starter emg
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Instead of just reciting Dale Carnegie PMA, why not suggest alternatives?
My suggestion is to contact Don Bright
Next read every post on jamesaltucher.com
Learn the way things really are in trading business and life from folks who have proven history.
Ignore unknown aliases who make veiled claims and when challenged are in excuse #65 on why they can't back anything up.
Good luck!
The alternative is sitting your ass in the chair, choosing ONE instrument that is tradeable (sufficient liq and sufficient range on avg) and watching it everyday like a hawk. And while watching, taking notes about what you see....what happened when we made that 2nd new high or 2nd new low.....how quickly price moved from one level to another....essentially paying very close attention to what the mkt does and NOT what you think it should do. Then at the end of each day, review the charts, scroll through different time frames and find further correlations. It's all there for ANYONE to see, but is something that takes a lot of work and dedication. There are no free lunches and the rewards go to those who spend the time in a quality manner not just in quantity. I don't care if you spent 2 years watching, if you are not being proactive and are getting bogged down in your own opinions rather than being flexible then it's time for you to GTFO out this business.
Of course, then there is the automation route but that's something very different altogether. That route can be great too, but one doesn't HAVE to go down that path to be successful in trading.
Of course, then there is the automation route but that's something very different altogether. That route can be great too, but one doesn't HAVE to go down that path to be successful in trading.
Yes, for certain personages that method MAY yield fruit--( such as those with trust funds, large sums of capital, or other passive income) but what happens when the market changes? What happens when unknown black swans occur with price ( happens all the time)? How do you make a living when you are learning this one instrument prior to losing all your funds?
Going to a prop firm and learning real edge then having a team to offer different edges when the one stops working ( they all do) seems to be a much smarter and wiser use of time rather than staring at charts all day trying to see repeatable patterns to exploit. Sorry but the human mind can't predict consistently looking at flashing screens.
Going to a prop firm and learning real edge then having a team to offer different edges when the one stops working ( they all do) seems to be a much smarter and wiser use of time rather than staring at charts all day trying to see repeatable patterns to exploit. Sorry but the human mind can't predict consistently looking at flashing screens.
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