Most humans do not make good traders, we are a walking collection of cognitive biases. This said, I have worked with female traders who are far more insightful and able than almost anyone on this site.
How to find a guide For trading
- Thread starter etradeqeko
- Start date
time to grow up
there is a possibility u were a horrible teacher
to be a trader and to become a trader is a different story
imho monkey can be a trader, if someone will teach it...but almost no one will...
now to become a trader that is a different story....
It depends on what you're lack of.
In case you're willling to acquire your knowledge in forex trading, look at youtube videos (at least, it's free). After it, you'll get the comprehension of what you'll have to improve.
On the other hand, if you want to get some tips on when and how to analyze forex candles you may to find forex signals company. There are a lot of companies offering paid forex signals with the necessary information for your consideration.
In case you're willling to acquire your knowledge in forex trading, look at youtube videos (at least, it's free). After it, you'll get the comprehension of what you'll have to improve.
On the other hand, if you want to get some tips on when and how to analyze forex candles you may to find forex signals company. There are a lot of companies offering paid forex signals with the necessary information for your consideration.
there is a possibility u were a horrible teacher
If the student refuses to listen, it is the teacher's fault? That she was arrogant and allowed her ego to dictate her trading decisions is beyond my control. You can lead a horse to water but, cannot force the horse to drink. I have stressed risk management to her for so long. It becomes tiring. The fact she blew up $1,000,000, that is on her! If she practised risk management as in the trading plan, she was not to risk more than 2%, that is $20,000 per trade! Not $200,000 per trade or more that she decided on her own to plunk down. Risk management alone would have save a good chunk of her capital. She picks and trades stocks on her own so, I could not be responsible for those losses! I even tried to save her for that very horrendous VRX/BHC (now) trade of hers! She remembers it very well too! Trading against the trend, she bought calls on a downtrending stock. I told her to sell the calls and save her monies. Then, I also, told her to buy put options on VRX which she refused. Instead, she put hundreds of thousands more on the VRX calls! So, who would have thought that right? I have no doubt, a good student who was following our trading plan would have made monies! I am not the best trader on Elitetrader but, I probably, am not the worst either. I am content to get a couple of hundred dollars or sometimes thousands of dollars like in TWTR windfall trades. And I spend those monies as I am retired. Now, the only reason I posted this story is to open the eyes of aspiring traders what not to do! I did the best I could for her and I continue to try and make her a better trader but, probably, a tall mountain to climb for me. Look at the negatives: 1) No risk management, 2) No trading journal, 3) Arrogance/Ego dictating trading. Doesn't exit trades when she should because she is wrong!, 4) For reasons she only knows, she cannot determine the trend in a stockchart. Even if the stock is trending strongly at a 45 degree angle! She is a doctor and and a smart person but, she cannot determine whether a stock is on an uptrend, downtrend or sideways. We have reviewed that simple concept of trends multiple times! I continue to emphasize that to her even now!
I even share my trades with her. Now, I only win 40% of the time and lose 60% of the time. So, what does she do? She picks 1 or 2 trades out of the 10. Most times, she gets the losing trades. Common sense would dictate you take all 10 trades. Then, you will get the winners.
I do not know ahead of time which of my trades will work out so, why does she think, she can just guess?
yep,
apparently she did not see you as some one who she needs to listen to or not motivating enough
as they say in sport: when team wins it's the players achievement, when it loses it's the coach's fault
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I do not make it about me because I am there to try and teach her to be a competent trader. That is all I am trying to do. Unfortunately, her arrogance/ego prevents her from seeing she is wrong until, she has practically lost 90% of her monies in any trade. I keep telling her, cut your losses. Get out when your trade is going against you. Now, I am teaching her for "free". I am not getting paid to do this. When I am teaching her things about trading, she is attentive and seems to be paying attention. Problem is, she keeps commiting the same mistakes. She does not maintain a trading journal which is a must to correct your mistakes. How are you going to correct your mistakes if you are not even aware what are your mistakes because you have no record of it?