Why do newbies lose?

[SunTrader]

Any day now. A year from now will we (not me) still be talking about SML trading 100 ES?

 

[ironchef]

You named all the mistakes noobs make. I have done them all and for multiple occasions.

Me too.

 

[padutrader]

will be the first ET member to reach ES 100 contracts

you do not need 100 contracts.....i made 1000usd trading one contract in an hour

 

[padutrader]

do you really think trading is this complicated?

Brooks is not complicated he is extremely simple.....if you understand him......the problem with knowledge is that everyone has knowledge but no one has understanding....

i had knowledge of BROOKS for 20 years but only NOW i have understanding of what he says. HE IS A GENIUS.

for me trading is simple....NOW.......Brooks has made it simple

so you are right...trading is simple.....it is learning how to do it that is complicated.....learninng to do ANYTHING is complicated

 

[padutrader]

There are three things you are missing in your trading padutrader

the only thing i was missing was profit and that is not missing now

 

[padutrader]

I will be the first ET member to reach ES 100 contracts.

this is the worst belief traders have that to make money you have to trade big .....i traded one contract in ES and made 1000 usd in 70 min

 

[SimpleMeLike]

you do not need 100 contracts.....i made 1000usd trading one contract in an hour

Hello padutrader,

I respect your statement.

 

[padutrader]

do you really think trading is this complicated?

it is as simple as taking candy.....from a man eating lion.

simple but dangerous.........and while if you succeed you can post in ET and have bragging rights: never forget that you can get killed.
you can never trust any beast, you do not know, what it will do, at what time, and markets, are the most unpredictable, moody and vicious of all the beasts.
this is really why newbies lose.....they have no clue about the wild beast they are dealing with

 

[padutrader]

buy low sell high......newbies know this ,do it , and then wonder why they lose money... if it was not so sad i would be laughing my guts out.
so it is obvious it is not buy low sell high.
what is it then?
buy low in the trend and sell high in the trend

 

[padutrader]

i used to make good money then over 3-4 trades lose it all......

i think it is because i did not have a clue, like most people, what was a channel, leave alone how to trade it, if at all.
i realise now that either to go one side, meaning in a bull channel, only buy....and then have a lot of patience as the market crawls up or, as i usually prefer, wait for a better pattern even if means waiting 2-3 hours.
i am now not losing widly for no apparent reason.

learning to recognise tight channel has hugely helped my profitability and mental frame of mind and kept me focusing on making trades solely on basis of technicals, rather than reacting to whipsaws, or on feel or guessing.