i like you
you are one of the few persons here who post charts...so know uyou are very much interested in technicals
Young Trader need advice and mentor(if possible)
- Thread starter TurtleLearner
- Start date
you are one of the few persons here who post charts...so know uyou are very much interested in technicals
Thanks! (It's a means of helping to keep me from getting too bored with all this experimenting on my own.)
@TurtleLearner - if you ever make it to the states we roll our interns every six months. Not sure if that is of any interest or when we'll roll our next group, but PM me. We are outside of Chicago and you work nights.
That's interesting, given that I was scalping successfully using 5-minute charts from 2015 through 2016, though I'm pretty much sold on 1-minute charts at this point. (For a while I was vacillating back and forth from one to the other, or using them both together.)
So now that I’ve gone through this thread, things I want to note for myself…
There seems to be little general agreement on what constitutes scalping, so rather than try to define it for someone else, my attitude will be…if what you do, or want to do, and how you do it works for you, just keep on keeping on. When it comes right down to it, in the final analysis, what it’s called has no impact whatsoever on its success, nor do the comments others make about it, so there’s little point in fretting over such matters.
There also seems to be a great deal of debate around the topic of averaging down as well. But my experience with such issues is that when even experts argue about the rightness or wrongness of a thing, a clear answer probably does not really exist, so feel free to educate yourself to whatever extent you wish on the subject, and then do what you want.
Which brings me around to my own thoughts, starting with “actions speak louder than words.” If someone wants you to believe what they’re saying, ask them to prove it to you. If they show you how it’s done, you have your evidence and who gives a care what the naysayers claim anymore? If they are unwilling to show you, then why should you believe them?
Which leads to my personal experience discovering that among the most valuable things I ever did to advance me along the road to “success” was to actually observe professional traders in action. It was completely different from reading a book or article on the topic, or even attending a workshop. I needed to see with my own eyes what their discipline, attitude, analysis, psychology, and decision-making process looked like in action—during real-time, live trading—for me to be able to introduce these more subtle and nuanced aspects of what made them successful into my own trading routines. In the end, I would attribute 50% of whatever competence I possess exclusively to having made such observations.
Which reminds me of what some contributor wrote somewhere in this thread to the effect of you can’t learn to build an engine by reading about all the parts. A surgeon must do more than study how to perform operations before actually attempting to save a patient. Hands-on practice is critical if one wishes to become proficient at just about anything.
And for me, this raises the question of coding. Learning to code was, from my perspective, responsible for perhaps another 40% of whatever competence I have as a trader. But I only picked up this skill (somewhat) when I had to, because I knew what tools I wanted, and what I wished for them to do, but they did not exist, so I had to create them myself. I was forced to learn how to code—but the tools I created are a BIG part of why my system works.
However, I would not have known what I needed or wanted unless I first knew about pivot points, Fibonacci ratios, moving average convergence/divergence, the relative strength index, harmonic patterns, stochastic oscillators, and the like—so the 10% I got from learning about all this (not to mention fundamental analysis, trading psychology, risk/money management, and whatever else I’m forgetting to mention) was just as necessary as the other 90%!
(And it required just as much time and practice to "master.")
P.S. I wrote that last bit knowing I will never master it completely.
There seems to be little general agreement on what constitutes scalping, so rather than try to define it for someone else, my attitude will be…if what you do, or want to do, and how you do it works for you, just keep on keeping on. When it comes right down to it, in the final analysis, what it’s called has no impact whatsoever on its success, nor do the comments others make about it, so there’s little point in fretting over such matters.
There also seems to be a great deal of debate around the topic of averaging down as well. But my experience with such issues is that when even experts argue about the rightness or wrongness of a thing, a clear answer probably does not really exist, so feel free to educate yourself to whatever extent you wish on the subject, and then do what you want.
Which brings me around to my own thoughts, starting with “actions speak louder than words.” If someone wants you to believe what they’re saying, ask them to prove it to you. If they show you how it’s done, you have your evidence and who gives a care what the naysayers claim anymore? If they are unwilling to show you, then why should you believe them?
Which leads to my personal experience discovering that among the most valuable things I ever did to advance me along the road to “success” was to actually observe professional traders in action. It was completely different from reading a book or article on the topic, or even attending a workshop. I needed to see with my own eyes what their discipline, attitude, analysis, psychology, and decision-making process looked like in action—during real-time, live trading—for me to be able to introduce these more subtle and nuanced aspects of what made them successful into my own trading routines. In the end, I would attribute 50% of whatever competence I possess exclusively to having made such observations.
Which reminds me of what some contributor wrote somewhere in this thread to the effect of you can’t learn to build an engine by reading about all the parts. A surgeon must do more than study how to perform operations before actually attempting to save a patient. Hands-on practice is critical if one wishes to become proficient at just about anything.
And for me, this raises the question of coding. Learning to code was, from my perspective, responsible for perhaps another 40% of whatever competence I have as a trader. But I only picked up this skill (somewhat) when I had to, because I knew what tools I wanted, and what I wished for them to do, but they did not exist, so I had to create them myself. I was forced to learn how to code—but the tools I created are a BIG part of why my system works.
However, I would not have known what I needed or wanted unless I first knew about pivot points, Fibonacci ratios, moving average convergence/divergence, the relative strength index, harmonic patterns, stochastic oscillators, and the like—so the 10% I got from learning about all this (not to mention fundamental analysis, trading psychology, risk/money management, and whatever else I’m forgetting to mention) was just as necessary as the other 90%!
(And it required just as much time and practice to "master.")
P.S. I wrote that last bit knowing I will never master it completely.
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