Teaching A 5 Year Old How To Trade

[J_Smith]

LL, you have more or less hit the nail on the head.

We all have "our own" problems to deal with, and, if we just stop and think about them, we will find that most of what we dwell on are not real problems, just a way for us to get the "easy way out".

The funny part about it all, is that, making money trading is actually as easy as ABC, but, with our silly and ridiculous thoughts we actually stop ourselves from doing what we need to do - so, one does not have to be a genius to know that all is required (after some experience of course), is to get the head thinking the correct way.

Once this is accomplished, then all the algo traders in the world will not stop you making money, as, you have one thing that none of them have - a clear mind!

Of course, the biggest problem, is, when you start making good money, then you are really tested, for, it can all unravel as fast as it manifested - again, due to the silly and ridiculous thoughts that making good money can cause.

It is a continuous battle - ask any successful business man, and I bet you $1K he will verify what I speak of.

One thing that can really help is to stop drinking alcohol - and this I know from experience - being a thick Irish Paddy I have it in my genes, and it really has taken a lot to kick it to the sidelines, but did eventually, and will never drink in excess again - the odd one is fine and is also good for the mind, knowing that one can control alcohol allows one understand that other things can also be controlled.

J_S

 

[Laissez Faire]

I remembered this thread this morning when my very curious 7 year old nephew came over to my computer and was curious about my charts.

I told him it was a money game that could make you really, really rich if you're able to predict what will happen next.

After a moment, he blurted: It's a pattern!

He also cleverly observed that the price can go both up and down.

Made me chuckle. I plan on sitting down with him later. Maybe he can teach me.

 

[Surprise]

BS thread/idea

 

[BonScott]

One thing that can really help is to stop drinking alcohol - and this I know from experience - being a thick Irish Paddy I have it in my genes

Yeah, another Paddy here. Almost impossible to get my friends to do anything without beer involved. Excessive drinking definitely affects everything, including trading.

 

[J_Smith]

Yeah, another Paddy here. Almost impossible to get my friends to do anything without beer involved. Excessive drinking definitely affects everything, including trading.

I suppose you have to be from Ireland to understand - personally, I think it has a lot to do with past generations having nothing - my own Father came from a family of 13, and they hadn't 2 pennies to rub together when he was young.

When he became successful, after years of hard work, the money went to his head - he literally drank, and gave away, a fortune!

As you well know, everything in Ireland revolves around drink - even young women now are drinking more than young men, and to make it worse, they think the are " great" being able to drink more than the "fella's".

Then, you have the muppet Enda Kenny, and his bunch of money grabbing wafflers - who, won't do a thing about it as the taxes taken in by the government from pub alcohol sales is huge - they don't want to cut their big pensions!

Drink is only a mugs game, and I know - at least I had the sense to stop before it was too late - I bet you know loads of "fella's" who can't stop - reason being, it was a major part of their life growing up, and it is very hard to change that - a lot would die first, which of course they do.

Anyway, what do you trade, and do you know any other thick Paddy's on this site - maybe we will set up a " Thick Paddy Trading Group"

J_S

 

[BonScott]

My opinion on the drink in Ireland, is that we had generations of poverty and Catholic repression, and most people grow up not knowing how to express their feelings. They can only be "free" when drunk. The sad story of your father is repeated in most families across Ireland.

Quite common to see young teens drunk. The busiest day of the year for the Well Woman clinic to supply the morning after pill, is the day after the junior cert results are released.
Starting drinking so young means that they only learn to cope with bad feeling or insecurity by drinking, so it carries on into later life.
Like you say, the government live off the alcohol taxes, so it won't stop soon.

I don't know any other Irish traders here, I think there is a lack of interest, since the stock market is a minor thing in Ireland, and doesn't get in the news much. No one in Ireland even know where our stock exchange is. The "Thick Paddy Trading Group" sounds like something from a comedy show. This would be our trading room

I am trading US Index futures. I work to pay the bills from 7 am or so each day, and then try to be free to trade the US open in the afternoon. I have a method that will work if I apply it correctly, but I am still eliminating trading mistakes one by one. Nearly there after some years of learning and many errors. I look back on charts from previous years, and I was doing some insane trades at the wrong points, and jumping out early from the good ones. Now making less trades, and increasing the win rate.

Hope your trading is going well.

 

[J_Smith]

My opinion on the drink in Ireland, is that we had generations of poverty and Catholic repression, and most people grow up not knowing how to express their feelings. They can only be "free" when drunk. The sad story of your father is repeated in most families across Ireland.

Quite common to see young teens drunk. The busiest day of the year for the Well Woman clinic to supply the morning after pill, is the day after the junior cert results are released.
Starting drinking so young means that they only learn to cope with bad feeling or insecurity by drinking, so it carries on into later life.
Like you say, the government live off the alcohol taxes, so it won't stop soon.

I don't know any other Irish traders here, I think there is a lack of interest, since the stock market is a minor thing in Ireland, and doesn't get in the news much. No one in Ireland even know where our stock exchange is. The "Thick Paddy Trading Group" sounds like something from a comedy show. This would be our trading room

I am trading US Index futures. I work to pay the bills from 7 am or so each day, and then try to be free to trade the US open in the afternoon. I have a method that will work if I apply it correctly, but I am still eliminating trading mistakes one by one. Nearly there after some years of learning and many errors. I look back on charts from previous years, and I was doing some insane trades at the wrong points, and jumping out early from the good ones. Now making less trades, and increasing the win rate.

Hope your trading is going well.

Had a good laugh at that, funny, I have seen those "fella's" loads of times - Gobshites

Sounds as if you are getting there - watch the ES and NQ, not markets to mess around in - stocks are much less risky.

What broker do you use - please don't say spreadbet

J_S

 

[J_Smith]

BS, you might find this hard to believe, but you are the first Irish person that I have spoken with in a good few years that actually trades - as you said, most here don't bother, and those who do invest in stocks go for managed funds, which is exactly how I started back in 1987, just before the crash

I did go to a TICN meeting many years ago, and I had a real good laugh - husband and wife trying to convince a room full of farmers to form an investment club, and TICN would show them how to "milk the fukin cow" ( selling covered calls) - I swore never again after that - talk about a bunch of thick Irish Paddy's

Will be interested to see how you get on - we might touch base - btw, I have no time for any of those so called stock market "educators" in Dublin that have sprung up over the last 3-4 years - total waste of time - ex failed bankers trying to copy the US model of " stock market education" - which we all know is one load of bollox

Don't be put off by my wording - it's just that I am so used to dealing with Gobshites on this site, it comes naturally now

J_S

 

[BonScott]

Don't be put off by my wording - it's just that I am so used to dealing with Gobshites on this site, it comes naturally now

Every forum in the world has crazy people, and if you don't see them, then its you

I'm trading through IB, and mostly NQ or YM futures. I have looked at some of the larger stocks also. I may have a closer look at the stocks again. It was what I started on when I was initially learning.

I wanted to go to a TICN meeting years ago but never did. Pity I missed out on those covered calls, could be rich by now
In the end I had to read many many books, download and analyse years of data, google everything, read tons of stuff on ET and other sites, just to get to a level where I can understand a little bit of how I can get into the market, and take a few points off the table.

I think that its actually quite hard for a beginner to get on the right track, with so many different opinions, and so many "experts" out there selling the easy way to make money. Not surprised most people just stick to managed funds.

My plan is to do no stupid stuff this week, I'll let you know how I get on.
Trade well for the week yourself.

 

[J_Smith]

Every forum in the world has crazy people, and if you don't see them, then its you

I'm trading through IB, and mostly NQ or YM futures. I have looked at some of the larger stocks also. I may have a closer look at the stocks again. It was what I started on when I was initially learning.

I wanted to go to a TICN meeting years ago but never did. Pity I missed out on those covered calls, could be rich by now
In the end I had to read many many books, download and analyse years of data, google everything, read tons of stuff on ET and other sites, just to get to a level where I can understand a little bit of how I can get into the market, and take a few points off the table.

I think that its actually quite hard for a beginner to get on the right track, with so many different opinions, and so many "experts" out there selling the easy way to make money. Not surprised most people just stick to managed funds.

My plan is to do no stupid stuff this week, I'll let you know how I get on.
Trade well for the week yourself.

Ok, np - I would stick to ES for now - average range around the 10 points, so we could see some extra volatility very quickly if we get one real bad news story - but, main thing is do what is working for you, and forget everyone else.

I done a little bit of research when someone posted in other thread bout what was driving SP500 up - was actually surprised to see that the biggest holding in US equities is the "households" - in fact, they have been piling money into stocks, so could be sign of what is coming down the road - but, only time will tell, as US elections still have bit to go.

I used never look at fundamentals, but am now seeing that ignoring them is ridiculous, even for short term trading.

Anyway, remember this little tree sign - will help you greatly when trading eminis

ES xxx DT & DB

NQ xx DT & DB

J_S