Seek advice from SUCCESSFUL/PROFITABLE traders

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THIS IS MY ADVICE TO YOU.

Start using tech. ind. & you're done before you begin.

This is the greatest lesson I ever learned in trading.

Most likely you won't do it.
best wishes, though!
 
Quote from veggen:

The funny thing is, the more you learn about the market - the more you understand how little you know. This might be a scary thing to realize, because you will realize this at one point or another.
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This is when you know you are on the right track. Sort of like taking an exam and saying to yourself, "Ah Ha! They want me to pick that answer but I know there is more to this"

The market is always right and offers new opportunites to be challenged.
 
Quote from GCSICLRBC:

SUPPORT & RESISTANCE. SUPPORT & RESISTANCE. SUPPORT & RESISTANCE. SUPPORT & RESISTANCE. SUPPORT & RESISTANCE. SUPPORT & RESISTANCE. SUPPORT & RESISTANCE. SUPPORT & RESISTANCE. SUPPORT & RESISTANCE. SUPPORT & RESISTANCE. SUPPORT & RESISTANCE. SUPPORT & RESISTANCE. SUPPORT & RESISTANCE. SUPPORT & RESISTANCE. SUPPORT & RESISTANCE. SUPPORT & RESISTANCE. SUPPORT & RESISTANCE. SUPPORT & RESISTANCE.



THIS IS MY ADVICE TO YOU.

Start using tech. ind. & you're done before you begin.

This is the greatest lesson I ever learned in trading.

Most likely you won't do it.
best wishes, though!
More...

Are you referring to simple support and resistance? What about moving average support?
 
I have personally watched hundreds of professional traders try and fail, so the default and logical answer I give to prospective traders is don’t even start. Forget about trading and don’t look back. I have seen what continued failure in trading does to people and families, and I wish that on no one. If, for whatever reason, you feel like you have to trade then treat it as you would any very difficult, risky endeavor. Traders are not all the same, some have a lot of capital while some have very little, some have delusions of becoming billionaires while others just want a reasonably good rate of return, some can devote all their time while others have serious obligations that interfere. With that in mind you cannot give one answer or one piece of advice to all traders. I don’t know what I know because I was magically a good trader, it is just that if there is a trading mistake to be made then there is a good chance I have made it over the past 20 years and learned from it. By the way most people on this site don’t know what they are talking about, but if you search hard enough you will find some good information.
 
my advice is just get the basic concept that trading and trader and price action is a CHAOS. and there is no rythm in chaos.. and we traders always try to find RHYTHM in a CHAOS. WOW.

Technical analysis like trend lines elliot wave theory , pivot point, technical indicators ,,, al are useless for this CHAOTIC SITUATION.


Just go for Mathematical ALGORITHMS.

Algorithmic Trading system <-- this is the Solution.

Go and learn about complex mathematical Algorithms and success is all there.
 
Quote from veggen:

Also important is the ability to believe in yourselve, that you will make it, no matter what. Do not give up!

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This could be the best possible advice given to the OP; but, seeing that most people fail to do anything in attempting to trade but squander their money, odds are that it is the worst possible advice.
:(
 
First and foremost you need to have the passion, you can't just be doing it for the money, you need to have a unquenchable thirst for winning and a love of the game. Then you need a high level of discipline, persistence & patience. Then you need to find a method with a edge. Your method is only 10% of the recipe for success, I pair trade and have a proven record http://www.elitetrader.com/vb/showthread.php?s=&threadid=134253 but it isn't the method that makes it for you, its your ability to consistently apply it, it sounds so simple yet its the number 1 reason why so many don't make it. Its a numbers game and your've got to treat trading like a business where your wins are your revenue and your losses are your costs. Like everything else in life you get out what you put in, if you want something bad enough you will get it. Believe to achieve.
 
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