Some helpful advice for new traders

[SPX Options Trader]

Lets face it,
a good trader has that “ x factor” and intuition most dont have

The ...x factor,... and intuition, is certainly very important and helpful for trading success.

But the trader can't be successful if they have learned from dumb, old, books and social media hype personalities who conned them into purchasing generic, useless, material.

Understanding, wisdom, approach, philosophy, assumptions, expectations, agility, mobility, patience, and foresight.,...are all equally critical in succeeding in this market trading game.
Study the Greats in life...the bests war generals...the bests karate people....the best artists...the best philosophers...the bests movie directors....try to pickup, subtle, traits they all possess. And apply similarly to trading.

I wish I could simply, directly, give you a Million dollar formula for trading, But chances are...you'll fail trying to implement it.
You need to be well-rounded and versed in all of the above things I mentioned, first. Which a ton of people flat out lack.

 

[zghorner]

The ...x factor,... and intuition, is certainly very important and helpful for trading success.

But the trader can't be successful if they have learned from dumb, old, books and social media hype personalities who conned them into purchasing generic, useless, material.

Understanding, wisdom, approach, philosophy, assumptions, expectations, agility, mobility, patience, and foresight.,...are all equally critical in succeeding in this market trading game.
Study the Greats in life...the bests war generals...the bests karate people....the best artists...the best philosophers...the bests movie directors....try to pickup, subtle, traits they all possess. And apply similarly to trading.

Is that a picture of your mom as your avatar lol? oh nevermind, she would be wearing an "anal only" shirt if it was.

 

[tiddlywinks]

The ...x factor,... and intuition, is certainly very important and helpful for trading success.

But the trader can't be successful if they have learned from dumb, old, books and social media hype personalities who conned them into purchasing generic, useless, material.

Understanding, wisdom, approach, philosophy, assumptions, expectations, agility, mobility, patience, and foresight.,...are all equally critical in succeeding in this market trading game.
Study the Greats in life...the bests war generals...the bests karate people....the best artists...the best philosophers...the bests movie directors....try to pickup, subtle, traits they all possess. And apply similarly to trading.

I wish I could simply, directly, give you a Million dollar formula for trading, But chances are...you'll fail trying to implement it.
You need to be well-rounded and versed in all of the above things I mentioned, first. Which a ton of people flat out lack.

There are plenty of highly profitable "old" methods, techniques, tips, and tricks.
There are plenty of highly profitable "new" methods, techniques, tips, and tricks. Many rooted or omg, plagiarized from the old.

Some right here in this lovably elite setting pontificate looking at a chart is dumb.
And multiples more dissuade and belittle the action of trading and the mindsets of traders profitable or not.

The best and most succinct advise I offer is find your own way. Learn "everything" or learn nothing on your own terms so as to fit your personality and predilections.

Trade on!

 

[murray t turtle]

To me that's terrible advice.

Position size should be related to the risk you are willing to take, not the number of shares.
Let your winners run. It's all about making money, not taking quick profits.

Don't let the trade go way wrong, bail as soon as it goes a little wrong.
You know your theory is suspect when Padu agrees with you. He's a self described failed trader.

%%
ALMOST always true; except longs in a bull market, no sense using tight stops/ ''little wrong''.
Small profits could work in inverse etfs, they seldom give a good profit, except SEPT, maybe MAR or MAY.................................................................................

 

[Peter8519]

Position size is a function of capital. If with capital of $10M, a position of 700 shares at $100 per share is no biggy. Of course, the next question is invest in what equity ?

 

[Overnight]

Position size is a function of capital. If with capital of $10M, a position of 700 shares at $100 per share is no biggy. Of course, the next question is invest in what equity ?

BA. They ain't going away, ever.

 

[deaddog]

BA. They ain't going away, ever.

Isn't that what they used to say about GM?

 

[Scataphagos]

To me that's terrible advice.

Position size should be related to the risk you are willing to take, not the number of shares.

Let your winners run. It's all about making money, not taking quick profits.

Don't let the trade go way wrong, bail as soon as it goes a little wrong.

You know your theory is suspect when Padu agrees with you. He's a self described failed trader.

Ditto.

I thought I was the only one with enough hutzpah to post, "everything you said is wrong".

KISS, baby!