Please enlighten me! Confused, young, lost. Input from all traders welcome!

Quote from IvoryOctopus:

I appreciate your input. But, by no means am I trying to use my youth or my ignorance and where I stand as an excuse to not take any initiative. I'm simply just trying to communicate how green I really am. I'm fully prepared for a long arduous process and to lose money, what I've hopefully interpreted correctly from what I've read is that these things are inevitable. You said that "everyone who starts anything new in some way is somewhat ignorant, no matter what the field of endeavor" and that's exactly what I'm hoping others realize!:) When a mechanic explains whats wrong with the customers car, they should always underrate how much the customer knows to prevent holes in the customers understanding.

I can see that you're very aware and opinionated of the increasingly developing trend and stereotype for many older folk imposed on the current younger generation that is summed up by pretty much saying "kids these days don't want to work, they're all the get rich quick type and they just want everything now, America is doomed, etc." And I respect that! Amongst many of those I've seen my age, it's true. I've met too many of those where applying the term "going nowhere" is an understatement, confined by a mindset of arrogance and a misallocation of pride, to say the least. But please don't be so quick to presume this about me! If I caused you to misinterpret my first post, I'm sorry.

Thank you for the book recommendations, it means a lot. And I don't mind sacrificing the partying and drinking. It's about the bigger picture. :)
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the problem is most can talk about how hard they are willing to work, how much effort they will put in to achieve a bigger picture. Only thing is: most can't persist when the going gets tough in any endeavor. I am not the first to say this. Many quotes from successful persons (the kind you find on Calendars and Posters) say the same. Goethe said: anything you can dream you can accomplish (to paraphrase). The trouble with that is that many can dream while few can work and sacrifice to accomplish that dream. This is well documented; the bell curve supports it.

Thus, there is ALWAYS plenty of room at the TOP.

Get the books I said, this weekend (check the library if money is tight - buy them used on AMZN)... finish them by year end. It will give you true insight into the markets, and trading. It will also get your juices flowing.

Then... learn the fundamentals; the basics ! Start at the beginning. No different than learning to play golf, tennis, baseball or ride a bike for the first time.
 
Quote from IvoryOctopus:

He pretty much made the point that most traders who make a profit worth noting are either very lucky, very very well exclusively informed, or very very very smart. That there isn't really any factor of skill and that you can't really be "good or bad" at trading. To sum it up he pretty much said "If doing this is so possible why doesn't everyone do it?" How true is this?
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I agree on this part: "very very very smart."

You may be lucky, but luck doesn't last long. Eventually the lucky one dies.

You may be illegally informed, but you will get caught sooner or later.

That leaves only one way: Be very very very very very very smart.
 
The first thing you need to do is school your mind. Read "Trading in the Zone," by Mark Douglas. You have to be willing to read it more than once because you couldn't possibly absorb it all in one reading. Each time you read it you'll absorb more and the learning curve will speed up. I've read it cover to cover about 10 times and I refer back to it frequently. Once you can think like a trader you can start learning how to interpret price movement like a trader. After you've read this book spend as much time as you can just watching price move. The market sings a song. You have to learn how to hear that song.

Quote from IvoryOctopus:

So pretty much, I'm young, ignorant, and in many cases naive. Even moreso when compared to many of those that have been involved in the market for many many years. But where do I go and how do I shorten this gap?

I've been interested in trading for quite some time, and yet I feel like there's been such a barrier for me when trying to learn about trading or get started and involved.
It's always apparent of how unknowledgable I am, especially in many threads on the forum as terms, ideas, and subjects go right over my head. I feel such a lack of understanding of things, especially of the market mechanics that effect trading, as well as the trading strategies and signs that would cause one to make decisions. The ability to analyze information and know the effect and/or take an action to say the least. Even knowing what information I need in the first place!

But I definitely feel lost as to where I should go to learn what I need to know, I really wish I knew someone personally that could clear many things up but unfortunately thats not the case. I read as much as I can online but that only goes so far, and I've just bought A Random Walk Down Wall Street as well as The Master Swing Trader which I will soon read.

Now, what I believe much of the population does that are less involved are the buy and hold type that invest in something for up to decades for long-term profit, which is definitely not what I'm looking to focus on. I have the desire to go for much shorter terms and hopefully use trading as a source of side or even primary income in the future. But of course, I may be speaking in naivety as I'm not sure if I know what's even realistically possible!

I'm in college right now and am currently taking an economics course which is very informative coming from knowing nothing, and recently talked to my professor who seemed quite fixed that what I'm looking to do is quite unrealistic. He pretty much made the point that most traders who make a profit worth noting are either very lucky, very very well exclusively informed, or very very very smart. That there isn't really any factor of skill and that you can't really be "good or bad" at trading. To sum it up he pretty much said "If doing this is so possible why doesn't everyone do it?" How true is this?

Sorry if it's a long post!
TL/DR: How did you go from how much you knew starting out, to how much you know now?

All responses will be very much appreciated, thanks in advance.
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Quote from IvoryOctopus:

Thanks! I will definitely look deep into the ACD Method.
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You don't start school in your Senior year, you begin as a freshmen. Start from square one; learn the basics, the terminology, how markets work. After you don't feel totally overwhelmed and begin to make sense of it all... then you can decide whether to focus on a special method or concept and strategy. KISS. Less confusion in the beginning, the better. There is a learning curve in trading or flying a jet plane etc.

Find out what type of trading fits your personality. Is it options. Is it futures. Is it equities. Figure yourself out, as you learn and read fundamentals. What would "I" (meaning you) be best at given my personality type, goals, emotional make-up etc.

For example, a good book to invest in would be (in addition to what I suggested above): "Trading & Exchanges" by Larry Harris - - - maybe go on AMZN and preview it.)
 
Quote from the1:

The first thing you need to do is school your mind. Read "Trading in the Zone," by Mark Douglas. You have to be willing to read it more than once because you couldn't possibly absorb it all in one reading. Each time you read it you'll absorb more and the learning curve will speed up /B]
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That's too advanced from what I read from the OP post. He has to learn the basics. Like we all did or should have done, first.

If you can't hit a golf ball far, straight and consistently... you don't begin learning about course management, and train your mind! You practice and learn the fundamentals of a good swing.
 
Quote from iceman1:

That's too advanced from what I read from the OP post. He has to learn the basics. Like we all did or should have done, first.

If you can't hit a golf ball far, straight and consistently... you don't begin learning about course management, and train your mind! You practice and learn the fundamentals of a good swing.
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I agree that Golf holds a lot in common with trading in terms of what's necessary to succeed.

Years of practice. Solid discipline. Capital to support yourself through trial and error. And yes, a bit of natural talent and aptitude for the game.

Remove any one of those factors, and you're a weekend duffer and a lousy trader.

IMO, someone in school should never set trading as a primary career objective. Develop another career path first while you have the opportunity. Then turn to trading later after you've had the time to spend a few thousand hours in practice and on simulators.
 
I try to do this as littles as possible, especially considering I've been browsing this forum for years and have only now made my first post - but check out our website at younggunstrading.com

I bring it up because it caters to younger traders going through school, etc. May have some insight as to where you can begin and what you'll go through. The site is literally a log of our journeys.

Main advice is fine someone who is reputable you can trust and be a sponge to their knowledge.

It's going to take you a while to find a style that is right for YOU, so I can't say that trading one way or one vechicle is right or easier, everyone is different.

- @SpeeroTheKid
 
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