Why does no one here give detailed trading advice?

I think most traders come to this forum to see what other people are looking at, to bounce ideas off others, and sometimes to help another trader with a psychological issue. We don't come here to give handouts and wipe your ass for you. I for one, have paid my dues with drawdowns and just the time and study involved in doing this in a seriously disciplined way day in and day out.

I also don't believe there is a simple step by step approach to being a consistently profitable trader. It's more of a psychological thing. You have to spend years at this and through that experience develop an intuition whether to let a position run, take profits, take a loss quickly, or double down, etc. From my own experience, I don't know if someone could trade in exactly the same style as myself. You have to develop something that works for you. There are millions of possibilities in different time frames, you have to choose in which moment you will take a certain approach. You have to be fluid in your thinking, and also stubborn. You have to be able to know when you're wrong, but also at the same time know when you're right. Sometimes you have to be aggressive, all in to make a home run, other times you have to know when to be risk averse.

It all comes down to making it your own. You have to put in the time, and stop thinking that traders have the holy grail, and if they just shared it with you, your life would be filled with millions tomorrow. If you think trading is like getting a piece of ass, you are very wrong.
 
Quote from ApsII:



I will start off by saying to the newbies that you need to study volume and price action first.

There that is more advice that has been given in this whole thread. Look for my charts soon I will start a thread and call it "For beginners only"
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I'm sure your thread will be very useful, hopefully just as useful as other threads here on ET about volume and price action, some of which have been running for over 2 years with over 40,000 replies and nearly 4 million views.

Assuming that (unlike you) new visitors have the common sense to spend a little time and effort to see what's here first before declaring "this site is full of non traders", how pathetic.
 
Quote from ApsII:

I figure things out very quickly........I have a list that I am compiling that will help in saving time as to who is worthy of my time.
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I trust you have a bit more to offer them than well-worn phrases like "Google Fibonacci retracement" and "study volume and price action" to make you worthy of their time! Going by what you've posted so far your credibility is zero, or actually minus in my opinion.

I have a sneaky feeling your posts will eventually lead up to a sales pitch, or at best be regurgitated mantra and strategies we have all seen and read a million times before.....
 
I have that feeling too but will certainly give him the benefit of the doubt first. I also agree he's started off poorly by jumping to conclusions almost immediately about what this site does and does not have (as well as its contigent). Sure there is banter that is of no help to anyone but there is alot of wisdom in these "halls" too. The search button will attest to that.

Lets see what Mr. Aps is all about, the floor is yours my good man....

Quote from cabletrader:


I have a sneaky feeling your posts will eventually lead up to a sales pitch.....
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Quote from The Swordsman:

I also agree he's started off poorly by jumping to conclusions almost immediately about what this site does and does not have (as well as its contigent).
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That's what got me, the "I'm the only one here who can trade" type of conceited nonsense.

We'll see I guess....the proof of the pudding as they say :)
 
OP:

Here is my advice to you. 99.99% of the advice you will receive, no matter how well intentioned it is, is wrong. I repeat 99% of what is written in this forum (and the entire web is wrong)

Now how to sift for the good 1%? You need to work, and you need a sift/filters.

Since you want correct advice (and only correct advice), it should come from successfull people. Do not fall in the trap of thinking that a successful trader is someone who is voted/viewed by the majority as successful. The crowd is wrong most of the time. Success in market is via the less travel road. Uunlike a democracy where the majority wins, in market it is the minority that wins.

A correct method to find the nugget traders is that you cross examine a short list against comments they have made in terms of future price action on instruments (stocks, currencies, futures, etc). Every one makes a statement about future price actions, and the price always delivers a verdict.

This should be done easily as you will have their historical written record and the price charts. You will easily spot those who are good at reading markets (Make the difference between FUTURE and PAST prices. Listen only to reading of future price action), Success is easy to recognize by a man who is not blind and intent on finding the truth.

Then once you have identified that small group, then pour over everything they have written and read it multiple times.

After that follow their writing like a hawk. Over time, your mind will be shaped by their writings and your own thinking. If you do this, you will be successfull, because you will be drinking from healthy sources.

It is a long/hard road, but you can make it. Rome was not built in one day. Get to work immediately.

PS:
I read more than a 1000 books on trading, and applied the above methodogy to books as well.

I will say: "read until you eyes bleed."
 
Traders focus too much on written publications, editorials and on what other traders are doing to see if they can pick up clues or techniques.

In my opinion the book you should read the most is the market itself notice how that book has pages after pages, never ends and last but most definitely not least, read yourself, the trader.

Everything else is pretty insignificant.

Daniel
 
Quote from daniel33:

Traders focus too much on written publications, editorials and on what other traders are doing to see if they can pick up clues or techniques.

In my opinion the book you should read the most is the market itself notice how that book has pages after pages, never ends and last but most definitely not least, read yourself, the trader.

Everything else is pretty insignificant.

Daniel
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I do not agree with this advice if it is aimed at non-successful traders. Once one gets to the point where he has a synthesis where things boils down to reading markets and onceself, that invidual has already reached a successful stage and seeks mainly improvements, or that individual has reached a conclusion that trading is not suited for oneself.

Prior to that point, learning from others is a must!
 
I SpyTrader and Jack have gone to great effort to provide novice traders the road to success.

They have never asked for money. They must fight a never ending battle against the scum who have lost all their money trading.

Jack currently has more money than Donald Trump. He has purchased his own cruise ship to take a tour of Alaska. Jack has been very generous and donated some of his vast wealth to university's around the country. Since he no longer worries about making money, he has donated his time to help others.

Yes, you can make $ billions trading, but you must spend the time and read their journals. It may take you years to understand them. However, no matter how stupid you are, Jack has said he has been able to teach young kids to trade using crayons.

Even some the mods are against them, and I expect this post to be deleted before most newbies have a chance to read it.
 
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