Yes, another one

[Bad_Badness]

That's one of the first things you will specify in your trading plan.

Trading plan specifies;
What to trade
When to trade
How much to trade
When to sell.

You want to write it so that you could hire someone to trade for you and they would know exactly what to do.

Which buttons do I press? When? Answer those two question would be exacting. On some level that is all you do.

 

[noddyboy]

Just think of how many new traders have come to elite the last few months as the markets have skyrocketed. Its become the biggest casino the world has ever seen.

I'm sure there is some kind of info we can pull out of this to see what stage the bubble is in.

Still early stage

 

[S2007S]

Still early stage

Oh extremely early. Like I said another 30-40 year bull.market is coming. TQQQ will be above $10,000++

 

[NotKnown]

Some questions :-

What is your objective in trading? A career or just a hobby?
What time frame do you want to trade. Intraday, swing, daily, weekly etc.
What instrument do you want to trade? Indices, stocks, currencies, commodities etc as it is very difficult to trade them all.
What is your risk tolerance?
What advantage/disadvantage does leverage offer?

 

[Tavurth]

I see. And yeu have already showed your hand from your ignorant assumption about my name on here. I aint buyin what you sellin after that debacle. I hope your trading TA isnt as bad as your human TA - or you will be a very poor man with all those assumptions flowing through that head.

Don't get too upset by posters here on ET.

I don't even see who you're replying too, as I've probably set them to ignore.
Just go to their profile and click the ignore button!

 

[Turveyd]

I agree, but all forums have a gem or two floating around

Telling the Gem from the muppets js damn near impossible.

Got i to swing trading stocks, practiced for ages, profitable day #1 !iterally, went on yahoo and had a mate who was making loads, moved over to there high risk get rich method, losses, losses and more losses, mate was losing to, he just only talked about the profits and ignored the losers.

Taught me to countertrend took me years to undo

 

[wrbtrader]

...I want to be a consistent trader that has a probability edge. Im not worried about each individual trade, just like a casino isnt worried about paying out one bet, but like a casino, over time due to probability I win in the long run...

You've answer your own initial question about where to start when you said the below...

...Can anyone point me in the right direction? On which courses to look at and who to approach after im done for some "continuing education/OJT." Maybe we can work something out if any of you feel like throwing a dog a bone.

Thanks for your time.

Start will learning about how to get the most out of your professional trade journal software that computes for you the quantitative statistical analysis about your trade performance.

In addition, while you're learning the above...learn about the importance of maintaining a trade journal about your trade performance on simulator / real money via the perspective of keeping statistical analysis of your trading.

There's your bone considering it was you that mention the importance of having a probability edge.

Backtest ---> Simulate Trade ---> Real Money Trade

wrbtrader

 

[noddyboy]

Oh extremely early. Like I said another 30-40 year bull.market is coming. TQQQ will be above $10,000++

No not 30 years. What bubble last 30 years? Man you are crazy. If it is not 30 years then it is 30 seconds. You know nothing in the middle.

 

[AbbotAle]

I also believe strategy is 10%, position sizing is 30% and psychology is 60%.

Strategy is EVERYTHING.

It's the FOUNDATION of making money in the markets.

If you don't think this is so, use a simple MA crossover system but with 100% perfect sizing and with the best mental psychology in the world and tell us how it all went.

In fairness though, of course sizing and psychology are important. But there's a 100% direct correlation between strategy and psychology. One can only be good at the psychology part if their strategy is good. This is why Casino owners never have to employ psychologists because they KNOW their strategy is rock solid.

Strategy is therefore where ALL the initial work needs to be done. Once that is done, position sizing is simple (don't risk much per trade). The psychology part is then a bolt-on. Also, don't forget physical fitness and sleep, they're edges as well.

 

[tommcginnis]

One can only be good at the psychology part if their strategy is good.
...
The psychology part is then a bolt-on.

"Rules-based (algorithmic) trading" is a fine substitute here. If you can code it, you can trade it.

Much much wisdom in AbbotAle's post. Nicely done!