There's a reason why I got involved in this thread (outside of the fact that we have another dead market today so far). Padu's example has some interesting lessons to learn from: why people trade. If you are trading because it's a business, you work like any entrepreneur: you actively seek solutions to problems, you go after information and proactively seek evidence to confirm or refute a certain path.
Time and capital are limited, so you need to work efficiently.
Padu doesn't appear to do that, and when I was starting it was similar for me. I remember when I went to my first trader meetup here locally, I was asking a lot of questions and trying desperately to find what could work for me. I wanted to get into ES futures right away. Luckily a guy stopped me and told me that I'd ruin my account in no time, and he introduced me to FX. That saved my a$$ from ruin because I could experiment with teensy amounts of money. And that showed me how hard trading really was, as opposed to the 'just 2 pts a day' idiocy that is always marketed.
But I remember how he and this other lady told me "you're grasping... you're not focused". That was a very serious problem for a long time. I was all over the place. And people often are because they are looking to get involved in the markets for all the wrong reasons. For me it was going to be easy money without a boss (that's 80% of everyone right there). Hard focused work did not seem to fit that equation, and you then get into this stupid mode where you think that just by showing up and pressing buy and sell you'll eventually get it. No you won't, not without study of both the market and yourself, not without understanding the long path of discovery until you find a methodology and market that works for you, not without understanding the huge variance in market behavior and thus income this business brings, etc.
Time and capital are limited, so you need to work efficiently.
Padu doesn't appear to do that, and when I was starting it was similar for me. I remember when I went to my first trader meetup here locally, I was asking a lot of questions and trying desperately to find what could work for me. I wanted to get into ES futures right away. Luckily a guy stopped me and told me that I'd ruin my account in no time, and he introduced me to FX. That saved my a$$ from ruin because I could experiment with teensy amounts of money. And that showed me how hard trading really was, as opposed to the 'just 2 pts a day' idiocy that is always marketed.
But I remember how he and this other lady told me "you're grasping... you're not focused". That was a very serious problem for a long time. I was all over the place. And people often are because they are looking to get involved in the markets for all the wrong reasons. For me it was going to be easy money without a boss (that's 80% of everyone right there). Hard focused work did not seem to fit that equation, and you then get into this stupid mode where you think that just by showing up and pressing buy and sell you'll eventually get it. No you won't, not without study of both the market and yourself, not without understanding the long path of discovery until you find a methodology and market that works for you, not without understanding the huge variance in market behavior and thus income this business brings, etc.
