Please tell me if this is Stupid http://www.elitetrader.com/vb/showthread.php?s=&postid=1629062#post1629062
What do you think? Stupid, or not?
So you want to be a Stock Trader?
- Thread starter 2manywhiners
- Start date
Poker vs Trading (again) http://www.elitetrader.com/vb/showthread.php?s=&postid=1646506#post1646506
Get to know it well, and you can find all kinds of interesting things on ET.
Like this thread, for instance...
Fun. Yes, there is a magical feature called "Search"Quote from 2manywhiners:
Trading is like playing Razz, 7card Stud, and Omaha...
Most of the amateurs involved have no clue what they're doing. They jump in head first, lose more than they can afford to, and then go complain about it on internet forums.
Quote from Don Bright:
LOL, certainly some validity to that.
Don
Quote from insaneinvestor:
PS there have been many posts like this - This site should really have a search feature to look for key words and phrases. It would prolly eliminate 1/2 the postings.Quote from 2manywhiners:
Alas, a brilliant idea! In fact, so brilliant, that someone else thought of it first. Look at the top of the page, and to the right. This magic feature you seek is called "Search." It is quite a novel concept, and I think it will revolutionize the way people "surf" on the "intra-web."Quote from insaneinvestor:
HAHAHAHAHAAH Oh my God! Don't I feel like the f**ing asshole.
well, it obviously needs to be more prevalent. (like in the top top center with everything else) HAhahahah
I bow to you sir.
Get to know it well, and you can find all kinds of interesting things on ET.
Like this thread, for instance...
To Paper Trade, Or Not to Paper Trade...? http://www.elitetrader.com/vb/showthread.php?s=&postid=1652154#post1652154 is that the question?
In regards to which broker to use for paper trading:
In regards to which broker to use for paper trading:
Becoming a successful stock trader is very easy
You need to simply buy the stocks that go up consistantly
Stuff like AAPL MA GOOG RIMM BIDU EWZ FXI and so on..
Look for good fundamentals and strong buying momentum. A market cap larger than 10 billion is recommended.
You should hold on to your picks for a year or longer.
You need to simply buy the stocks that go up consistantly
Stuff like AAPL MA GOOG RIMM BIDU EWZ FXI and so on..
Look for good fundamentals and strong buying momentum. A market cap larger than 10 billion is recommended.
You should hold on to your picks for a year or longer.
That seems more like becoming an investor.
But thanks for the input. Very insightful.
PM - Answers to a new trader's questions of which software to use, books that outline detailed strategies, how to find stocks that fit specific trading styles, and getting started in automation.
Money management, is this all you need? http://elitetrader.com/vb/showthread.php?s=&threadid=98895
Yesterday I posted a non-offensive reply to a thread about Jack Heresy's promotion of a website that is using his name to advertise their products. As far as I can tell the entire thread was deleted by a mod on ET instead of just locked down like normal, but either way my post was removed. In my post I stated that Newbs and young traders should never listen to a self-proclaimed guru without first questioning the logistics of the methods by which they trade. If not, then a fool and his money were lucky enough to get together in the first place... Jack and the other gurus make outlandish claims of consistent profits and daily % points, yet at least 95% of their followers never realize any significant gains while they rack up fees and loss after loss.
I believe everything a new or young trader needs to successfully start out trading the stock market (with short-term trades) is in this thread. No, there is no system or holy grail. No, not just any idiot can do it. No, I am not selling anything. Yes, I am all but done with ET. The site has looked the same since the first time I was on here in 2002. The books in the Books section never change. There are no useful screening tools or breaking news sections here. There are many more shit throwing contests on ET than discussions of any actual use to new traders... New traders can find much more useful tools, training, and community of traders by: a) using smart money, yahoo! pay services, seekingalpha, barchart com, your brokers software (use a name brokerage and know the platform intimately), and investopedia to answer questions. b) buy traders press DVDs and books, just make sure to not put too much stock into any one particular author or presentor, and don't rely too much on the so-easy-a-caveman-can-do-it technical tools and charting platforms they're sometimes promoting. c) visit the traders and forex expos in Vegas and Chicago and New York and do the seminars (pay and free) that make the most sense to you. Talk to as many people as you can, both vendors and other visitors and make sure to bring business cards and ask to swap emails with anyone you think actually knows more than you do or sems to know what they're talking about... then email them weekly and see if you can pry some knowledge or method details out of them.
Outside of that, just remember to look at everything objectively and examine the logistics of what you are being told/sold. Don't follow methods blindly. Question everything. Stay cool and calm in pressure situations. Formulate rules and follow them. And keep detailed notes on your trading and the results. Find your niche. Mine has always been morning breakouts and "narrow diversification" as explained in an earlier post in this thread. It works for me, maybe it does or doesn't work for you. Either way, find your own way. Good luck.
I believe everything a new or young trader needs to successfully start out trading the stock market (with short-term trades) is in this thread. No, there is no system or holy grail. No, not just any idiot can do it. No, I am not selling anything. Yes, I am all but done with ET. The site has looked the same since the first time I was on here in 2002. The books in the Books section never change. There are no useful screening tools or breaking news sections here. There are many more shit throwing contests on ET than discussions of any actual use to new traders... New traders can find much more useful tools, training, and community of traders by: a) using smart money, yahoo! pay services, seekingalpha, barchart com, your brokers software (use a name brokerage and know the platform intimately), and investopedia to answer questions. b) buy traders press DVDs and books, just make sure to not put too much stock into any one particular author or presentor, and don't rely too much on the so-easy-a-caveman-can-do-it technical tools and charting platforms they're sometimes promoting. c) visit the traders and forex expos in Vegas and Chicago and New York and do the seminars (pay and free) that make the most sense to you. Talk to as many people as you can, both vendors and other visitors and make sure to bring business cards and ask to swap emails with anyone you think actually knows more than you do or sems to know what they're talking about... then email them weekly and see if you can pry some knowledge or method details out of them.
Outside of that, just remember to look at everything objectively and examine the logistics of what you are being told/sold. Don't follow methods blindly. Question everything. Stay cool and calm in pressure situations. Formulate rules and follow them. And keep detailed notes on your trading and the results. Find your niche. Mine has always been morning breakouts and "narrow diversification" as explained in an earlier post in this thread. It works for me, maybe it does or doesn't work for you. Either way, find your own way. Good luck.
2manyW,
Im sure you probably didnt know this but actually on the very first page of the "Spydertraders Jack Hersheys Futures" thread there are links to many pieces of info for people to do their due dilligence first, ranging from the terminology to concepts to just basic background info. Anyone who read that stuff and continued on would never been seen as following a guru blindly. And it cleary states that one should read all the associated links before moving on.
All the anti Jack people may have a point in terms of his communication skills and possible lack of manners but surely shouldnt argue that Spydertrader told people to follow the method blindly. The due dilligence was there from the start. If you liked what you saw, you proceeded. If not, then not much time was wasted
Im sure you probably didnt know this but actually on the very first page of the "Spydertraders Jack Hersheys Futures" thread there are links to many pieces of info for people to do their due dilligence first, ranging from the terminology to concepts to just basic background info. Anyone who read that stuff and continued on would never been seen as following a guru blindly. And it cleary states that one should read all the associated links before moving on.
All the anti Jack people may have a point in terms of his communication skills and possible lack of manners but surely shouldnt argue that Spydertrader told people to follow the method blindly. The due dilligence was there from the start. If you liked what you saw, you proceeded. If not, then not much time was wasted
In my case, not much time was wasted. For others though, and you seem intelligent enough to understand what the purpose of this entire thread is for, I'm simply pointing out that following any guru or system of trading blindly is a bad idea. Not pointing any fingers at any particular guru or trading system/method here, but the more outlandish the claims the more skeptical young traders should be. I think most traders of any intelligence, and probably all successful traders, would agree with that statement.Quote from The Swordsman:
2manyW,
Im sure you probably didnt know this but actually on the very first page of the "Spydertraders Jack Hersheys Futures" thread there are links to many pieces of info for people to do their due dilligence first, ranging from the terminology to concepts to just basic background info. Anyone who read that stuff and continued on would never been seen as following a guru blindly. And it cleary states that one should read all the associated links before moving on.
All the anti Jack people may have a point in terms of his communication skills and possible lack of manners but surely shouldnt argue that Spydertrader told people to follow the method blindly. The due dilligence was there from the start. If you liked what you saw, you proceeded. If not, then not much time was wasted