I have been trading for 8 years. I have always been profitable, (after my first 8 months). I have read hundreds of books, attended many seminars, watch many videos, reads many magazines, newspapers, and newsletters, and checked out a lot of websites.
The only thing that was really worth reading was Mark Douglas' two books, "The disciplined Trader" and "Trading in the Zone".
But, I couldn't be where I am today without reading all of the other material that is out there. I still read, watch, and learn.
My brian is always working. Even though 99.9999% of the stuff out there is complete garbage. People out there are just trying to prove themselves, if they can't do it in the market, they write a book, etc. It makes them seems smart and knowledgeable. Take Stocks and Commodities magazine. Most of the articles in that magazine make me sick. All these delta, betas, sigmas, and statical garbage. Come on....??? How can anyone make consistent money following that stuff. I thing those people get some self worth and feel like they figured something out, that looks complicated, wow, now they accomplished something.
First of all, If you are not disciplined, you don't even stand a chance. That is first and foremost!!! Second, you must have some sort of edge. A strategy that works. You have to have direction with your strategy. You can't be a lost sheep, or a fish in the ocean with no plan. You have to have confidence in your self, that you can make money, and most of all, that you will not get destroyed when your wrong. I have confidence when I trade, because I know that I can handle the situation.
You must know yourself and find a niche in the marketplace.
Be disciplined and look at the probabilities. If your in a trade that usually works out 1,2,3,4,5,6, or even 7 times out of 10, DON'T take that trade. If it's not and 8,9, or 10, I won't even thing about it.
(There is so much more to all of this, but this is what is coming to my mind right now.)
There are books, etc. worth reading, and I do have respect for traders and authors that are profitable and share their knowledge. I am glad that they share their insight with others. You can always learn something from someone, even if that "someone" is not profitable.
The only thing that was really worth reading was Mark Douglas' two books, "The disciplined Trader" and "Trading in the Zone".
But, I couldn't be where I am today without reading all of the other material that is out there. I still read, watch, and learn.
My brian is always working. Even though 99.9999% of the stuff out there is complete garbage. People out there are just trying to prove themselves, if they can't do it in the market, they write a book, etc. It makes them seems smart and knowledgeable. Take Stocks and Commodities magazine. Most of the articles in that magazine make me sick. All these delta, betas, sigmas, and statical garbage. Come on....??? How can anyone make consistent money following that stuff. I thing those people get some self worth and feel like they figured something out, that looks complicated, wow, now they accomplished something.
First of all, If you are not disciplined, you don't even stand a chance. That is first and foremost!!! Second, you must have some sort of edge. A strategy that works. You have to have direction with your strategy. You can't be a lost sheep, or a fish in the ocean with no plan. You have to have confidence in your self, that you can make money, and most of all, that you will not get destroyed when your wrong. I have confidence when I trade, because I know that I can handle the situation.
You must know yourself and find a niche in the marketplace.
Be disciplined and look at the probabilities. If your in a trade that usually works out 1,2,3,4,5,6, or even 7 times out of 10, DON'T take that trade. If it's not and 8,9, or 10, I won't even thing about it.
(There is so much more to all of this, but this is what is coming to my mind right now.)
There are books, etc. worth reading, and I do have respect for traders and authors that are profitable and share their knowledge. I am glad that they share their insight with others. You can always learn something from someone, even if that "someone" is not profitable.
) The only ones that I found really useful are:
