where to begin?

D

destined

i'm just beginning my trading journey.
from what i understand most, if not all gurus suck, almost all of the trading books out there are worthless, and all advertised systems lose money. could any profitable traders give me any advice on where to begin. how did you get started? does anyone out there offer sound trading advice?
 
Find a mentor...If you can locate someone in your area who is already trading and has experience, offer to pay him to let you sit there and watch and ask questions.
 
Do not rely on anyone but yourself. That said make sure you have good tools. Any inexpensive direct access broker as well as good analytics tools are key. Mentoring is very important. It took me over 2 years pounding the market to get over the curve. I would have done much better if I had a mentor.

Good luck!
 
Quote from destined:

all advertised systems lose money
More...

It is more complex than that... you must have a strong discipline to follow your system. Many don't and then they blame that on the systems.
 
I agree with Wally.....you need to have the conviction to follow your system. It can be simple like MAs or candlestick reversals. But it is all in executing it consistently.
 
Destined,

Before you start trading, read the book "Trading for a living" by Alex Elder.

His second book "Come into imy trading room" is also good, but I think the first book's message was more powerful.

Good luck :)
 
Quote from Mir:

Destined,

Before you start trading, read the book "Trading for a living" by Alex Elder.
More...

I too think it is a good book to start with. It covers things that are basic yet important, such as indicator divergences.
 
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