Resuming Trading

W

Winston

I traded about 2 years ago full time, for a period of six months, using GroTrader. I lost some $ and made many dumb mistakes but learned a little as well. After much reading and studying, I am prepared to trade again. I don't know anyone in the business and have many questions I would like answered or have someone to discuss them with before I resume trading. I have owned my own business for 12 years and am in a position where I can devote full attention to trade and LEARN.

I noticed a trading course on The Hard Right Edge called Mastering the trade for $130. If anyone has any feedback on that course or any recommendations that would be great. I believe one of man's greatest commodities is his time. To anyone who takes the time to respond to my post, I thank you. :D
 
Since you traded for 6 months full time you must have learned a lot of the basics when you began. What we don't know is how much you retained or what you think is necessary to re-learn. What time frame did you trade on? Day trade? Swing trade?

I am not familiar with the course you mentioned, but if it is worthwhile, and you are well capitalized, then an expense like $130 should not be a concern. In the beginning one has many such expenses. As one progresses the expenses become larger. Advanced training, monthly software costs, and chatroom subscription fee are a few examples of possible expenses.

Lastly, you should understand that the market is different from and much tougher than it was 2 years ago. Fewer traders are likely to succeed now. You will find a lot of what worked 2 years ago no longer works.
 
043094,

Reading books on trading is OK. IMHO, getting training from a professional trading firm is a necessity to go along with your reading. As an alternative, if a truly professional trader is willing to teach you, this would be even better. BTW, it is possible that your reading may interfere with learning what pro traders have to teach, as you may or may not come with an open mind.

Outside of a few books, and those are mostly on the Psychological aspects of trading, I can't say that most of it helped me, but then that is more a statement about me than about the books.

I went to Bright Trading for some of my trading education. ALMOST_EVERY_THING_I_LEARNED_AT_BRIGHT_WAS_VERY_USEFUL. I would also look at Echo for their training, though I have not taken it, I hear it is similar to Bright's.

There are some people on this board that post their Journals. I would read them carefully, with charts and Time of Sales as you follow along with them.

Learning how to trade is just one dimension of trading. Take a look at threads like IB routes to Primex, IB Routes to NX, Why NYSE, etc, just to see that your understanding of the different forms of trading are just as important as the underlying that you are trading.

If you really want feedback, start your own journal on this board, be brutally honest about everything, then watch the advice (some worth its weight in gold, some not worth the weight of the electrons prop'ing up the words.)

nitro
 
Unlike dozu's ridiculous post above, and lame attempt at some Homer Simpson humor, thank you for your post nitro. It was a great post and should help all rookies.
 
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