Young Trader need advice and mentor(if possible)

traderGOD said:
risk management is a very important part of trade management.
But i have always tried to learn see and understand what the market is doing-this takes decades to do but you should be alert and try understand the language of the market.
it takes 10 years to become fluent in any language.
stop placement is important but understanding the market is a part of risk management;
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Seriously 10 years ? Not that I'm not a fan of patience but that seem enough time to build a business and help it growth 10X or more with the dedication and the last quote is really great
 
Reading and learning from book should be done.
Al Brooks himself has clearly said that his books are not for beginner trader.
He says they should trade only H2,L2 near the ema.that means trade the first pullback to the ema

when he is saying that why read the whole book and get confused, if you are a beginner

But why not learn to trade by actually trading.
trade forex because you can trade with as little as 5 usd.
it is the most liquid do not trade asian session unless it is audusd.
 
CSEtrader said:
You remember what legendary Jesse Livermore replied when he was asked what would be three main rules for trading well? "Stop loss, stop loss and the third is also stop loss", not the exact quote but this was the answer. It still the same. Respect your stop losses and even learn to love them - they are our teachers and protectors.
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yes agreed

i am fading the market on M1 with stop keeping the cash register ringing
 
traderGOD said:
Reading and learning from book should be done.
Al Brooks himself has clearly said that his books are not for beginner trader.
He says they should trade only H2,L2 near the ema.that means trade the first pullback to the ema

when he is saying that why read the whole book and get confused, if you are a beginner

But why not learn to trade by actually trading.
trade forex because you can trade with as little as 5 usd.
it is the most liquid do not trade asian session unless it is audusd.
More...

I'll certainly go with the second advice and rely on book only for really short term activity(scalping) to price action and the other stuff that all of you share with me ..

Which broker authorize such a transaction ($5 , the leverage should be 2000 to begin to gain a peny , with such bing thing , isn't sound it like a scam broker ?)
 
TurtleLearner said:
I'll certainly go with the second advice and rely on book only for really short term activity(scalping) to price action and the other stuff that all of you share with me ..

Which broker authorize such a transaction ($5 , the leverage should be 2000 to begin to gain a peny , with such bing thing , isn't sound it like a scam broker ?)
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forex
brokers you can trade in live conditions and learn with risking almost nothing...are they scamming for 5 usd?
 
Xela said:
Books ...

Understanding Price Action (Bob Volman)

Naked Forex: High-Probability Techniques for Trading Without Indicators (Alex Nekritin & Walter Peters - worth reading even if you don't intend to trade forex)

Daytrading (Joe Ross) (this is an updated re-issue of an earlier book - "Trading by the Minute", I think it was called)

Trading The Ross Hook (Joe Ross) (I keep coming back to this one again and again, because it's simple and logical and helpful, and the whole concept is based on one of the soundest principles of price action trading, namely "buy the dips in an uptrend and sell the rallies in a downtrend")

Trading Price Action Trends - Technical Analysis of Price Charts Bar by Bar for the Serious Trader (Al Brooks)

Trading Price Action Trading Ranges - Technical Analysis of Price Charts Bar by Bar for the Serious Trader (Al Brooks)

Trading Price Action Reversals - Technical Analysis of Price Charts Bar by Bar for the Serious Trader (Al Brooks)

"Warning": Al Brooks' set of three textbooks is kind of badly written and very badly edited (especially considering who the publisher is), and pretty difficult to plough through, but their content's excellent and was super-helpful to me, so those are a kind of "mixed recommendation": I actually think his online video course is much, much better and more helpful and more approachable, but it's also more expensive (now $350, I think - but that's still very good value, in my opinion, for about 37 hours of instructional videos).
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I do aggree on JR's books and that was my start too.
I've gone further to private tutoring and found something out which made my way in trading since. Not to conclude it as negative.

to the OP

study all and implement your personality. stop reading when it's interesting and start to verify it's value in today's trading environment.
don't look for challenge and don't look for fashion. study decent moves and derive strategies around them to swim along.
things change so stay focussed and don't take actions you cannot live with after.
trading is not a carreer but a life style.
traders who are doing well are not mentoring simply because they know that they must not.
 
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