Training Program

S

specialistlowe

Well, i'v finally done it. I took my 10k account upto 15k and down to 3k. I let distractions get in the way, ie serving in Afghanistan and i'm sure never trying to learn the markets and just play them had a significant role.

I have received alot of information from many helpful people of ET. Now that I have 3 years left in this wonderful, underpaid lifestyle, I want to learn all I can. I'm trying something different. I'm trying to write down a list of things I need to start learning. While learning, I am going to play the market on a simulation account. If you think I have skipped an important step in learning to trade, please throw it in.

Basic Candlestick Concepts
Basic Chart Patterns
Entry and Exit Signals
Money Managment
Shorting
Basic L2
Basics of Day Trading
Basics of Swing Trading
Trader Discipline
Developing a Trading System
Corrolation Between Volume and Price
Moving Averages
Basics of Technical Indicators

If there is anything I skipped, please let me know.
Thank you in advance.

David
 
Quote from specialistlowe:



Basic Candlestick Concepts AVOID
Basic Chart Patterns GENERALLY AVOID
Entry and Exit Signals ???? YOU NEED AN EDGE, THAT WILL DETERMINE THIS
Money Managment VERY CRITICAL
Shorting LEARN
Basic L2 DON'T KNOW WHAT THIS IS
Basics of Day Trading SOME VALUE
Basics of Swing Trading SOME VALUE
Trader Discipline SOME VALUE
Developing a Trading System
Corrolation Between Volume and Price
Moving Averages VOLUME HAS LITTLE VALUE ADD
Basics of Technical Indicators TOTALLY AVOID - WILL DISTRACT - MOST USE THIS AND MOST FAIL

If there is anything I skipped, please let me know.

BROKER - longterm, you should have > 1.

Only use demo or papertrading for 6 months or more. If you cannot make money in fake trading, you will NEVER make it in live trading. And when you start live trading, start and stay small until you REGULARLY make money.

The more you hurry learning how to properly trade and skip over essentials, the more you will lose.

On top of elitetrader home page, you will see "Brokers" and "Books". Worth some time reviewing the highly rated ones...

TOTALLY AVOID JACK HERSHEY, SPYDERTRADER AND "SCT"

AVOID PURETICK.COM ( a vendor on this site)

LEARN PRICE ACTION.
LEARN PRICE ACTION.
LEARN PRICE ACTION.
LEARN PRICE ACTION.
LEARN PRICE ACTION.

AVOID "OPTION SELLING"

AVOID PEOPLE TRYING TO SELL YOU SIGNAL SERVICES... 99% DON'T WORK, AND YOU DON'T HAVE ENOUGH MONEY TO TRIP OVER THE 1% WHO DO.

Support/Resistance, Trend lines, Seasonality and a few other topics MAY have some value add.

YOU WILL DEFINITELY NEED MORE THAN $3000 WHEN YOU ACTUALLY START TO TRADE...
More...
 
I disagree with the previous post. Although I am a price action trader as he obviously is, I incorporate volume extensively, and have for years. I have found it to be a huge aid, especially at supp/resis levels.

I do not use indicators of any kind however as they are all derived from price and lagging by definition. After enough time behind monitors, you will know what the indicators would look like anyway, just by looking at the chart action. Sort of like the guys in the "Matrix" who knew what was happening just by looking at the code.
 
why not take the plunge and sign up for a $2K two-day seminar by several well-known vendors? of course if i name them here i will be bashed but this could be an option to consider.
 
Quote from bstay:

why not take the plunge and sign up for a $2K two-day seminar by several well-known vendors? of course if i name them here i will be bashed but this could be an option to consider.
More...

Because then his account will go from $3K to $1K, and he will be no closer to successful trading
 
Quote from TraderZones:

Quote from specialistlowe:



Basic Candlestick Concepts AVOID
Basic Chart Patterns GENERALLY AVOID
Entry and Exit Signals ???? YOU NEED AN EDGE, THAT WILL DETERMINE THIS
Money Managment VERY CRITICAL
Shorting LEARN
Basic L2 DON'T KNOW WHAT THIS IS
Basics of Day Trading SOME VALUE
Basics of Swing Trading SOME VALUE
Trader Discipline SOME VALUE
Developing a Trading System
Corrolation Between Volume and Price
Moving Averages VOLUME HAS LITTLE VALUE ADD
Basics of Technical Indicators TOTALLY AVOID - WILL DISTRACT - MOST USE THIS AND MOST FAIL

If there is anything I skipped, please let me know.

BROKER - longterm, you should have > 1.

Only use demo or papertrading for 6 months or more. If you cannot make money in fake trading, you will NEVER make it in live trading. And when you start live trading, start and stay small until you REGULARLY make money.

The more you hurry learning how to properly trade and skip over essentials, the more you will lose.

On top of elitetrader home page, you will see "Brokers" and "Books". Worth some time reviewing the highly rated ones...

TOTALLY AVOID JACK HERSHEY, SPYDERTRADER AND "SCT"

AVOID PURETICK.COM ( a vendor on this site)

LEARN PRICE ACTION.
LEARN PRICE ACTION.
LEARN PRICE ACTION.
LEARN PRICE ACTION.
LEARN PRICE ACTION.

AVOID "OPTION SELLING"

AVOID PEOPLE TRYING TO SELL YOU SIGNAL SERVICES... 99% DON'T WORK, AND YOU DON'T HAVE ENOUGH MONEY TO TRIP OVER THE 1% WHO DO.

Support/Resistance, Trend lines, Seasonality and a few other topics MAY have some value add.

YOU WILL DEFINITELY NEED MORE THAN $3000 WHEN YOU ACTUALLY START TO TRADE...
More...

L2 (Level II) is the book.

FYI L2 is a leading indicator of price, Here is an illustration for you that shows L2 and six other leading indicators of price.

You will notice that these leading indicators "roll out" in an order.


L2 recognized as the DOM ladder in this illustration "shows" why the turn happened. Look at the WALL on the DOM (L2).

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Don't worry if you do not understand what I am saying.

It would take me about 10 posts to eliminate the stuff you have posted in this thread.
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