Why is that?

Gordon,

i'm not knocking this web site at all; it's great. i'm just saying that, it still comes down to YOU..it won't matter what books you read or what posts you read on a message board.
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That's a great thought -- now when are you going to follow your own advice??
 
Originally posted by Andy62279
Hello everyone. I'm pretty new to this forum as well as this business. There's this question I'd like to ask. If I happen to offend anyone, I greatly apologize. It's not my intention, but like everyone else here, my intention here is to learn.

There are many traders out there that are very intelligent and have a vast knowledge of trading, but they don't make money. Why is that? I know the answer is psychological, but it seems these guys know everything about it too. They seem to have the right attitude, but they're not profiting.

If a trader has the right trading plan, money management, and psychology, how could they still fail? Maybe it's from overtrading, or maybe I perceived these people having the right psychology when they really don't. I'm interested in knowing what your opinions are. My objective is to find if I have any of these weaknesses, so I can work on them before I begin trading.

thanks,
Andy
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Andy,

The reason most new traders fail is because when they first started trading, they looked around and saw the majority of people losing, and began asking "why don't traders make more money?"

Once you ask that question, you are cursed for life. It has to do with having offended the "Gods of Trading."

The right question for a new trader, the only pertinent question is "what am I gonna do with all that money I make?"


777
 
Originally posted by OPTIONAL777


Andy,

The reason most new traders fail is because when they first started trading, they looked around and saw the majority of people losing, and began asking "why don't traders make more money?"

Once you ask that question, you are cursed for life. It has to do with having offended the "Gods of Trading."

The right question for a new trader, the only pertinent question is "what am I gonna do with all that money I make?"


777
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"I hope I can break even today. I could use the money."
 
Originally posted by OPTIONAL777


Andy,

The reason most new traders fail is because when they first started trading, they looked around and saw the majority of people losing, and began asking "why don't traders make more money?"

Once you ask that question, you are cursed for life. It has to do with having offended the "Gods of Trading."

The right question for a new trader, the only pertinent question is "what am I gonna do with all that money I make?"


777
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777, you speak like a true Don Bright today :eek:


OHLC
 
"My objective is to find if I have any of these weaknesses, so I can work on them before I begin trading."

Can't be done. Weaknesses won't become apparent untill you are trading. Start small and tread carefully, keeping track of your every move. Print out a chart of your trades on whatever time frame you used for the play and draw your trades in. Then print charts on the next longer two time frames 5,10.15min. whatever and draw the trades in. Ask yourself what your reasons were for the play. See how the play looks on the longer time frames. What do you see ? What do you change? What worked? No matter what you think you will do it's not going to be what you will do when you are actually trading. By the way, that youth over experience thing isn't going to play in this game.
Just trade a little, be wary, get in touch with what you're actually feeling, get used to it.
 
if you have ever:

- drunk too much
- eaten too much
- spent to much
- envied too much
- feared too much
- driven too fast
- broken a promise
- been uncontrollably angry
- been inconsolably unhappy
- not done the thing you knew was right

then you have experienced the temptations and pain that traders are subject too EVERY moment they trade (unless they find another way)...

Best of luck!

:D

Q1
 
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