Question for Grob/Hershey...

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Quote from icarus618:

If a list were to be made of the various ways a person can learn to trade from scratch and then ranked in order from "best" to "worst", I would put paper trading on one's own near the bottom, somewhere near trading on one's own with a real account. At the top would be learning from someone who knows how to trade using a real account, being guaranteed against losses, and keeping all of the gains.

Of course the top of the list does not take into account what is "realistic", and there are other places along that list as well. In any case, by considering how people learn it's easy to see why most crash and burn before they really get off the starting line. I don't think paper trading changes it that much.
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Icarus - I really respect your commentary. Would you be willing to elaborate more on this?
 
Quote from aweissen:

Icarus - * * * Would you be willing to elaborate more on this?
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Sure, but I don't know where I am unclear to you to elaborate on. Give me a little guidance.
 
Certainly - many of the things that you consider as the most important influences - I don't have access to.

So, outside of rereading old posts, putting together puzzle pieces on my own, and then paper trading them in order to gain feedback for comprehension - what can I do to improve my chances for success?

In any case, by considering how people learn it's easy to see why most crash and burn before they really get off the starting line.
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I would also ask this: if I can identify how people learn, could I then use that knowledge in order to help me get off the starting line? Where can I learn more about what you mean here?

Thanks
 
Quote from easyrider:

If a person does not have a mentor or is not part of a prop firm but is trying to do it on his own, how do you suggest he proceed?
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That is a good question. The obvious suggestion is to find someone, but we know how problematic that is, not that there aren't a ready supply of "mentors" or "coaches" around nowadays.
 
Quote from icarus618:

That is a good question. The obvious suggestion is to find someone, but we know how problematic that is, not that there aren't a ready supply of "mentors" or "coaches" around nowadays.
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Yes. Theres always ET.:)
 
Quote from aweissen:

Certainly - many of the things that you consider as the most important influences - I don't have access to.

So, outside of rereading old posts, putting together puzzle pieces on my own, and then paper trading them in order to gain feedback for comprehension - what can I do to improve my chances for success?
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I think you are attributing to my earlier post way more than what I had intended. I will say this, however. If you are learning from what Jack has written and from the process others have gone through as documented in several places, you are not completely unequipped from the start.


I would also ask this: if I can identify how people learn, could I then use that knowledge in order to help me get off the starting line? Where can I learn more about what you mean here?

Thanks
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Learning how people learn is essential to achieving and repeating any result a person wants in life. In trading, most examples are of people screwing things up. ET just happens to be a convenient place to observe that across a wide spectrum of participants and wannabe participants. Spending time in the company of a group of traders can't be duplicated in cyberspace, which may or may not be unfortunate.

Well, you know and I know that reading about people's screw ups doesn't get the person starting from scratch very far. The things needed are knowledge, skills and experience, as Jack says. He uses analogies such as bridge building and trail building. I think they are quite apt because both have a contemplated destination on the other end. The destination Jack contemplates is SCT.

For you and others in your position, perhaps a destination in closer reach may be more worthwhile. How about starting with x dollars in an account and growing it to 3x trading the minimum the entire way? For trading ES, x might be, for example, any amount between 5K and 10K. If 5K, your destination is $15,000. Of course, there is no time limit at all in doing this. How do you get there?
 
Doesn't anybody wonder why Jack hasn't deigned to post here longer ago than his life expectancy? My observation over the years is that his posts are inversely proportional to the stupidity of the thread. ("My God! My God! Why hast Thou forsaken me?")
 
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