What helped you the most when you just started?

stay away from indicators. you don't use them to buy a car or a pair of socks, why stocks.

read my 'trading is easy' thread, study price action and market structure.
 
I'm a fan of pure PA and no indicators. Read Brooks, reading Volman. What else would you recommend?

Scataphagos said:
Price Technical Analysis.... the correlation between market price and technical tools.

Same today as way back when.

Spend your efforts on learning "Price TA". Many ET'ers disparage TA as "doesn't work.. it's BS". Don't believe them. (Just because they don't know how to do it correctly and therefore give it the "poo-poo", doesn't mean they are right.)

Not only does Price TA work, it's about the only thing that does.
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The Russians are coming! The Russians are coming! They are already here!

Next thing you know, they are takin over. Beware ;-)

Jokes aside, trying to trade /ES for the last couple of months. Will check out the Hall of Fame.

P.S.: Sorry, did not mean to be sexist by using 'man' in my prev. post.

CSEtrader said:
Choose what topics you are more interested in - you see forums, then you can see all the forums (I paste it for you here below). In the buttom, there is also feedback https://www.elitetrader.com/et/forums/feedback.11/
If you are not sure to go to the Hall of Fame and read it all. Put likes where you like, so other traders will know that you join ET.
I am also new here, a little bit more than two months after the nine years of trading.
How long do you trade and what?

...(copy of the side bar) ...
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Thank you, sir!

I wish I could find a place to hang out with older traders! Wishful thinking, can't even find a mentor ;-(

Can you please point me to some qualitative resources in "Educational Resources" to get me started?

Handle123 said:
Hanging out at a stock brokerage in 1978 till 1pm 5 days a week for several months, learned much from older traders . I learned charting old fashion way, by hand and I kept half of the Dow 30 going even after I bought my first desk computer in 1986-7. I think you learn much more eye to hand then using a mouse. If you take a few years and really learn charting till you are breathing it, you have much better chance of becoming profitable, also concentrate on risk management 2nd and leave entering last. And think about this, most of the huge wealthy people do long term trading, so learn about options, learn to hedge and selling options to make consistent money while waiting for stocks to go up or down by sell short.
I hang out usually in Educational Resources. Staying with much older postings, pre 2000.

Stay away from indicators for handful of years, youtube will try to lure you and make trading seem very easy and it is easy to open a brokerage account, it very hard to keep the money, think of yourself as bait to pool of sharks, unless you can compete...Good way to know when you getting decent, do a simulated account and triple it 3 separate times, and above all be honest with self and conservative. Many of us have wiped out several times cause we were too eager and lazy in doing enough back testing and learn programming.

Ok, I have given my old man advise for the week. lol

Welcome to ET and good luck.
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Subscribed to your 'trading easy' thread, studying Brooks and Volman on PA, what is a good resource on market structure?

dozu888 said:
stay away from indicators. you don't use them to buy a car or a pair of socks, why stocks.

read my 'trading is easy' thread, study price action and market structure.
More...
 
Alfing said:
The Russians are coming! The Russians are coming! They are already here!

Next thing you know, they are takin over. Beware ;-)

Jokes aside, trying to trade /ES for the last couple of months. Will check out the Hall of Fame.

P.S.: Sorry, did not mean to be sexist by using 'man' in my prev. post.
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Great you identified the gender now, lol, but you lost again - I am Russian too, from Odessa!
Es is the best for me too, and there are many experienced and successful ES traders here.
Here are two more threads
https://www.elitetrader.com/et/threads/the-best-trading-proverbs.284308/page-116#post-4685294
and this one
https://www.elitetrader.com/et/thre...coming-profitable.165170/page-36#post-4684697
May those last be your first, so then, soon you may start your own melancholic thread like this
https://www.elitetrader.com/et/threads/millions-made-much-of-the-world-seen-what-now.319486/
 
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Alfing said:
Looking back, what was the most helpful to you as a trader?

Some options:
- learning from books/seminars/trading rooms,
- sim trading,
- journaling,
- something else?
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Learning how to lose...which is to say, knowing when to walk away. This applies to winners too...knowing when to take diminished profits after you missed the exit.

It's not really something you can learn from a book or simulated trading. Of course you can find the rational explanation of it and implement it paper trading, but it's so much more of a personal and subjective thing when it's real money.

Also, cutting costs is something that will give back to you on every single subsequent trade and go a long way to tipping the scales back to even, if not in your favor...spend a lot of time focusing on this because it's a heck of a lot easier than squeezing more out of the gains side of the equation.
 
Alfing said:
Subscribed to your 'trading easy' thread, studying Brooks and Volman on PA, what is a good resource on market structure?
More...

I use a very rough structure - pros and amateurs, longs, flats shorts.

but you can research on the money manager behaviors.
 
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