If you had to do it all over again....

Quote from murray t turtle:

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Acrary is a clear communicator and i percieve you understand more about the markets than the word predict.

My perception of the meaning of some words doesnt always match the reality of Websters dictionary either.

:cool:
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Good thinking! Point taken, I think both ACrary and you are right. :cool:
 
Quote from Adobian:

I want to ask some detailed questions related to this topic:

If you are starting over:

1/ would you start with a larger amount ? What is the miminum that you would start with, if the 25K min was not a requirement.
If 25K requirement doesn't allow you to daytrade, would you trade longer terms, like position trading, using small amount ? how much ?

2/would you trade options instead of stocks ? Futures instead ? Commodities or Indices ?

3/ What would be the biggest, major change in your life as a trader, if you are starting over this time, now that you are older ? Like would you get married first ? Divorced ? Would you buy your dream car as soon as you get the money in, before it's too late again like you have regretted last time ? Etc.

4/ would you use the same broker ?


7/ Would you still watch CNBC ? Read the News ?

THanks.
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Ad;

1]Since learning is a process thnt takes time;
funny but truely would trade first with 1 share.Nice fantasy traveling back thru the tunnel of time.
Of course if an experienced trader started over now, trading more than 1 share makes sense

2] Stay with stocks;
& then add ES or YM derivatives.Not much point in starting with derivatives /leveraging ignorance

3]No wouldnt buy new cars like i did;
they are all used /depreciate as SOON as you drive off lot

4]Yes but would use Interactive Brokers ,but sooner;
OXPS has good charts .......
 
Quote from murray t turtle:

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Ad;

1]Since learning is a process that takes time;
funny but truely would trade first with 1 share.Nice fantasy traveling back thru the tunnel of time.
Of course if an experienced trader started over now, trading more than 1 share makes sense; not true for newbe/wantabe

2] Stay with stocks;
& then add ES or YM derivatives.Not much point in starting with derivatives /leveraging ignorance

3]No wouldnt buy new cars like i did;
they are all used /depreciate as SOON as you drive off lot

4]Yes but would use Interactive Brokers ,but sooner;
OXPS has good charts .......
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7] Much More of Investors Business Daily & website
investors.com ,
than CNBC. More of Art Cashin of CNBC.:cool:
 
I have been researching the internet on advice for how to begin trading. I saw and infomercial about WizeTrade this morning and I have mixed feelings about it after reading several reviews.

You sounded like you would be able to give me some sound advice on where to begin. I am not afraid of research and preparing myself for a new venture when it comes to my money.

I like the idea of a place to go on the web where I can watch the market and make decisions based on the information that is there. I have read other posts that talk about how they came see the same graphs and make the same decisions as WizeTrade users do. Where do I go to view these or have I misunderstood what they were saying?

Any advice you can give to this "newbie" is greatly appreciated.

Tracy
 
Wow...

I do not know who this Mr. Acrary is...but read this......why do I think this gentlemen has gone over many heads here?

Sir, Thank you.

Wifey


Quote from acrary:

With the info I have now, I would've done things very differently.

I would trade 100% strategic and 0% tactical. By this, I mean I would diversify simple trading styles like trend, countertrend and rangebound over time and markets. I wasted too much time and effort on when to buy and when to sell. My time would've been better served asking; "should I be long, short, or flat?", for the simple strategies in multiple timeframes and markets.
Rather than compounding I would add more timeframes or markets to build the account while continually lowering the overall risk.

I would have never worked for another investment firm. They're good at discovering talent but useless at building it. The payouts are peanuts compared to hedge funds and the risk/reward demanded is ridiculous compared to the managed fund world.

To make mega millions earlier I would've started a CTA ASAP and concentrated on marketing to fund of funds that had a negative correlation to my trading results. Building the account from opm is much easier than banging out the dollars and trying to build a account. I'd spend much more time at investor conferences and raise my profile. If I had some money early, I'd hire a publicist and a stylist. I used to argue with a investment bank guy that said "perception is reality". Now, I have to agree...he was right.
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This snipit I particularly like of Acrary's.... traders take note, this is a mans trading lifetime being reflected upon



Rather than compounding I would add more timeframes or markets to build the account while continually lowering the overall risk.
 
IMO the question is silly because it devalues the journey and only looks at results. It's like asking a man what he would do differently if he could go back to being three weeks old with the knowlege of knowing how to walk. Think about the joy you would be taking away.

I would change nothing because that is the only way it could have been, and I look at my past with a smile by seeing how I have grown not only as a trader, but as a man.

nitro
 
What about the question:

"What would we do the same?"

Sure I've made plenty of mistakes. Any one of them could have taken me out of the game.

However, I was certain that I could be successful. Even this now keeps me in the game:)

Granville
 
Quote from ElectricSavant:

This snipit I particularly like of Acrary's.... traders take note, this is a mans trading lifetime being reflected upon



Rather than compounding I would add more timeframes or markets to build the account while continually lowering the overall risk.
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Thanks Savant, for pointing that out.
 
Quote from nitro:

IMO the question is silly because it devalues the journey and only looks at results. It's like asking a man what he would do differently if he could go back to being three weeks old with the knowlege of knowing how to walk. Think about the joy you would be taking away.

I would change nothing because that is the only way it could have been, and I look at my past with a smile by seeing how I have grown not only as a trader, but as a man.

nitro
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A counter-thought: Learn from other people's mistakes because there isn't enough time to make them all yourself.

I nonetheless agree with Nitro. We should not perceive this thread to be a listing of regrets. It is best viewed as a discussion about lessons learned.
 
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