The road to becoming a successful Trader!!!

Quote from Bluegar3:

There's a lot of material out there. Books, information on websites, advice posters. There's a lot of different styles of trading some that work, some that kinda work, and others that don't work.

So on my path for figuring out this market, I've read many books, Tony Oz books, Techniques of tape reading, technical analysis from A-Z, technial analysis from stockcharts.com, studying the various chart formation on dacharts.com, reading jack hershey's strategy, reading something from a poster who said to multiply the opening price by 1.0033 or .9967 @ 1:00 CST, and probably more things I just can't think of.

That leaves me kinda tired. I feel as if there are several roads to take, and that I'm learning a little bit about each road rather than not taking choosing one road and digging deep. I found a liking for technial analysis & chart formations, however I read that it is a complete waste of time. Now I don't want to spend a lot of time studying and mastering that to find out it is a waste.

Could someone who is successful direct me in the right direction? What should I be studying? What road should I take?

All help you have no idea is GREAT APPRECIATED

Thank you
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Most of the time when people say that T/A doesn't work what they mean is that they didn't put in the time and effort to make it work for them. Maybe they moved on and learned something that they could use maybe they just sucked at trading. The truth is that if you will spend the time to really about chart patterns and the basics you can make some good money trading. Try this site and concentrate on just flags and pennants. If you learn those 2 things you can trade any chart out there.

Good Luck (although you won't need it if you study)
Gary

Edit: I forgot to post the website. Here it is.

http://thepatternsite.com/

P.S. This is not a sales ploy and I am not affiliated with them in any way. It is just a good site that has a lot of info on chartpatterns.
 
Quote from nkhoi:

we all had been there. If you are still asking, that means there will be more roads ahead. And since you are trying to save time by going short cut I recomm practicing Think and Grow Rich method by Napoleon Hill.
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Since we're talking self-here, I'd like recommend this little puppy:

It Works

What the thinker thinks, the prover proves

JJ
 
My best advise would be learn Price, TREND and maybe Trend lines. Read about pivot and higher highs... lower lows. Support and resistance. It all come back to price AKA Supply and demand.
 
The most important thing about trading,

"Saturate your mind with second to second and minute to minute price action and scroll through different timeframes, when your watching it."

See how it moves relative to itself from the most recent behavior of it. It will tell you a great deal about the character of the market.
 
set aside 3 years .....work like a dog ......u might be one of about 3%......but it can be done, just odds are greatly against you....do you have what it takes........not super intelligence...not big money....not mentors........not advisors......not lucky..not big ego.....not greedy........only sweat and tears and a deep passion for the business.......you can do this, if you want it bad enough...don't use real money if you cannot demo trade and steadily grow the demo account using 1 contract or no more than 2......if u can't you have 1 or 2 problems or both........no system and/or no discipline....self control.......4re is correct...for the most part...the reason it will take many years for most is the kazillion combinations to be tested..if you wish...the best is not jumping out at you and the weak systems will take you out emotionally and financially. If almost everybody else loses why would you want to do what everybody else is doing? I can't figure that one out....
 
Quote from elbow:

set aside 3 years .....work like a dog ......u might be one of about 3%......but it can be done, just odds are greatly against you....do you have what it takes........not super intelligence...not big money....not mentors........not advisors......not lucky..not big ego.....not greedy........only sweat and tears and a deep passion for the business.......you can do this, if you want it bad enough...don't use real money if you cannot demo trade and steadily grow the demo account using 1 contract or no more than 2......if u can't you have 1 or 2 problems or both........no system and/or no discipline....self control.......4re is correct...for the most part...the reason it will take many years for most is the kazillion combinations to be tested..if you wish...the best is not jumping out at you and the weak systems will take you out emotionally and financially. If almost everybody else loses why would you want to do what everybody else is doing? I can't figure that one out....
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yeah, that's my experience ... we'll see how I do in '07

JJ
 
Steve recommended this on another thread and I spent the 45 bucks required to have a look. Its a short term scalping system plus some extra stuff. If I didnt have a strategy I'd certainly try it and I'm testing adding an extra position to my current HSI trading using the basic NQ strategy.

The strategy, psychology and support look like one of the best deals around :)


Quote from steve0617:

Try this one. It works. It's DIRT CHEAP. And it's a scalping system that doesn't seek huge trades but it'll make you a damn fine living. And it's got an active online room and also an active private Yahoo group.

It's run by a guy named Ryan who's (I believe) a Christian (each Yahoo message answered is signed 'God Bless,' Ryan) and he's clearly not in it for the sales dollars generated by the method.

I use it every day and it WORKS.

I have no financial interest or any sort of gain by posting this stuff. And the boards on Yahoo has all sorts of preset up ELD's for TS or EPS (is that it?) for Esignal plus plenty of other chart vendors (Sierra etc.)

http://www.wattstrading.com
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