IB account funded. Don't know what to set up!

I did want to add that I just finished reading that thread from 2007! It's good to see you again Stealth Trader. You were one of the few who gave me solid advice years ago. So really, it it wasn't for me you may not be the trader you are today! LOL. :) Well, I'm stoked that you found someone to mentor you as that makes a huge difference right? I mean, just look at you and me. In 2007, I was trying to learn and actually did learn some but I got greedy and impatient. I don't think I shared what happened but it ended very badly and I gave up. Therein lies the difference. You lost at times but you did not give up.

It was not the end of the world for me but trading is something I always wanted to do; then and now. 5 years now and I am basically starting all over again. I am not going to profess to do things differently this time. I am just going to do it and in doing so maybe learn some patience and a little humility.

Thank you very much for bringing back that post. I needed to see it again; my own idiocy. Would you mind sharing if you do this full time now or how things are going? Thanks again.

John
 
Just wanted to point out that for whatever reason, I got my people confused and used Steathtraders name when in actuality I mean NoBias. I think it was because I had so much to go back and reread that Stealthtrader had posted.

So you were following that thread in the background while everything was going on. Okay, got it.
 
Poking around the web tonight and came across a youtube video about price action. In fact, that was the search I did on youtube. Wanting to learn more about price action and what it is, definitions, etc. Anyway, this guy gave a presentation on Price Action - Impulsive vs Corrective moves. I then watched another one he did about Fibonacci Trading. At the end of each video he touted his education business. I can learn by private mentoring, about $250 hr or he has regular programs I can learn at my own pace. I just wonder if these ever make sense. I remember someone posting that I shouldn't be looking for someone elses trade style but what about just to get educated on charts and types of trades, etc. Is it ever worth it to pay someone to learn?
 
the standard package includes futures, it's $10 a month when you are paper trading and is free if you generate. $10 in commissions.

Don't pay for anything until you need it.

Not sure why everybody has to be such a dick when all you are asking are simple questions about setting up an account.

almost everything has 15 minute delayed quotes for free

it takes a while to set up tws just the way you want it, but you can change everything from the color to the rows to where the windows appear, and on and on. You don't even need real time data for that. so just go with the standard, and take a few weeks getting the screen set up, and practice entering and exiting orders, and get your presets all set up the way you want.

It's always the same around here, whenever somebody asks a beginning question, all the nuts come out and say "quit, close your account, you don't know enough to trade."

It is very easy to change your mind, you don't have to subscribe to everything on day one. Just go with the $10 standard package for now.
 
Quote from johnstac:

Poking around the web tonight and came across a youtube video about price action. In fact, that was the search I did on youtube. Wanting to learn more about price action and what it is, definitions, etc. Anyway, this guy gave a presentation on Price Action - Impulsive vs Corrective moves. I then watched another one he did about Fibonacci Trading. At the end of each video he touted his education business. I can learn by private mentoring, about $250 hr or he has regular programs I can learn at my own pace. I just wonder if these ever make sense. I remember someone posting that I shouldn't be looking for someone elses trade style but what about just to get educated on charts and types of trades, etc. Is it ever worth it to pay someone to learn?
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no, there is no shortcut, paper trade and then you will start learning enough to ask intelligent questions.
$250/hr? you gotta be kidding, I would rather flip a coin and put in a $250 stop, then at least I would learn something in an hour.
 
Hey thanks old time. Wow you post a lot on these forums don't you. I have seen you several times already. Thanks for that advice. I did some research on books and have a good list to start with. I think I will stick with those and then get my feet wet on TWS. Maybe button trader after that.
 
Quote from oldtime:

the standard package includes futures, it's $10 a month when you are paper trading and is free if you generate. $10 in commissions.

Don't pay for anything until you need it.

Not sure why everybody has to be such a dick when all you are asking are simple questions about setting up an account.

....
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not at all that is why he comes back. He now realises people just trying to be helpful ET style.
 
Do not pay 250$, study hard.
But this is the advice of someone that is still looking for his own way to trade.


If you want to make a few mistakes, I will be happy to make some with you :)
 
Quote from nkhoi:

not at all that is why he comes back. He now realises people just trying to be helpful ET style.
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While some are trying to be helpful, there are others that are just not. They are a waste of space an only find pleasure in others demise. One the flip side there are others that are helpful. With so many types of personalities, it is not always clear but you have to weigh each response on its own merit.
 
Quote from Nym:

Do not pay 250$, study hard.
But this is the advice of someone that is still looking for his own way to trade.


If you want to make a few mistakes, I will be happy to make some with you :)
More...

I guess the main thing I pondered was when does it make sense to pay for help. If someone can cut your education down by half, is there a value in that? Because I am new, I do not know if every person has to make all of the same mistakes as everyone else and whether one could save money with good counsel. I tend to believe that it is up to the individual but I'm not sure at this point.
 
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