Want to learn about strategy

optioncoach said:
You are a noob but understand volatility and edge and money management....and don't want to do any work to learn, like reading books, just want to follow others and magically learn to be a money making machine...

and you wonder why people here are going to flame you for the douche waffle vag you come across as...
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I learned those from poker , well i want a step by step formula to play even if its not a winning one , if the best have only 2% edge then i can imagine it must be quite hard to create an edge. From my experience if you have a starting point you can learn from this how things work out , it might make books even easier to read. I recall reading a book about a strategy where you used RSI i think? you made a trade based on a condition o n the chart , it was fun but i forgot about it , damn i want to make my first trade and complete it optimally :S
 
Wach80 said:
I learned those from poker , well i want a step by step formula to play even if its not a winning one , if the best have only 2% edge then i can imagine it must be quite hard to create an edge. From my experience if you have a starting point you can learn from this how things work out , it might make books even easier to read. I recall reading a book about a strategy where you used RSI i think? you made a trade based on a condition o n the chart , it was fun but i forgot about it , damn i want to make my first trade and complete it optimally :S
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Not sure where the "2% edge" came from but if I only had a 2% edge, I would go into wood working.
 
Wach80 said:
if the best have only 2% edge then i can imagine it must be quite hard to create an edge.
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Don't look for an 'edge', per se...like it's some sort of mystical, magical, divine light thing in a movie o_O:confused:
But instead just gain and hone your experience. -- and from there, it will all kind of start to make sense...the pieces of the puzzle will all start to make sense visually and logically...on how to succeed in this game.
trading.jpg

...but when you do (of if) finally find your edge/Skill/experience...it will feel so divine,
 
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speedo said:
You are a long way from concern about a demo account. First, you have a great deal of learning to do. If you are successful and most aren't, it will likely take years, a number of months if you are a quick learner with talent and great discipline. You may not like to read but I would suggest picking up a primer like John Murphy's Technical Analysis of the Financial Markets to learn the language of trading and principles of analysis.

I came from the corporate world as a well paid exec and it took me a couple of years before I could even distinguish the real traders from the bullshit. This is a profession which takes a lot of work, time and dedication.

That you can not recognize a trend indicates you know VERY little about "chart reading". If you are serious, be prepared for a long and sometimes painful education. It is worth the effort but understand that most drop out along the way.
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good i will check out this book , do you have other *core* books to suggest? why does it take so long to become a trader? what is it so difficult about it? theory behind strategies? chart reading? something else?
 
Wach80 said:
good i will check out this book , do you have other *core* books to suggest? why does it take so long to become a trader? what is it so difficult about it? theory behind strategies? chart reading? something else?
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It takes time before you can read patterns real time. I would recommend using at least two time frames for reference. It also takes time to be able to tell what is actually there and not what you thing may be there. Once you can read charts, you will have to develop a viable trade plan and test it. Once that is done you will likely have to adapt your behavior to do what you need to do with great consistency. It is a profession like other skilled profession....it takes time and effort. I can recommend Joe Ross's books for trading strategies.
 
speedo said:
It takes time before you can read patterns real time. I would recommend using at least two time frames for reference. It also takes time to be able to tell what is actually there and not what you thing may be there. Once you can read charts, you will have to develop a viable trade plan and test it. Once that is done you will likely have to adapt your behavior to do what you need to do with great consistency. It is a profession like other skilled profession....it takes time and effort. I can recommend Joe Ross's books for trading strategies.
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I get it now thanks , so since you dont suggest other books then the John Murphy book will be a great deal about this stuff ig uess? i will try to study it carefully then , i know there are billions of indications and stuff like that and fundamental data , damn i dont even remember the one i learned the RSI one let alone much more than this , i guess even if it was possible to copy a pattern it wouldnt make sense if i didnt know anything about it , after all the goal is to be a trader and knowledge is neccesary. I guess you are the technical type? How many indications do you use on your strategy?
 
BONECRUSHER said:
Wach80 is trying very hard to come across as ignorant...something not right.:confused:
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Im not trying hard , im ignorant but not totally i read some stuff about trading before a year or so but then i was to busy to continue.
 
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