Registered: May 2009
05-15-09 05:50 PM
Quote from EchoTrader:
Your best edu. would be lots of screen time.
The best education is placing actual trades. Don't get caught up in needing to be profitable at the start. Place small trades. Another good way to learn is by paper trading. Books can help a lot, what they can't do is show you how you will act with real money on the line.
Money can be very emotional, it is after all what allows most of us without farms or gardens to eat, have shelter, and take care of our families. It is when you have actual money on the line that you will begin to learn about yourself and your risk tolerances.
The sort of risks you take in real life may be an indicator of the sort of risks you will take in the market. Also, we are all very different people and see the world very differently. What makes me or someone else successful may not make you successful. It may take some time to find your niche and where you will be successful/most successful.
I just came across the following link, very interesting. Watch toward the middle or end where Mr Douglas talks about paper trading. This is assuming that you are using paper trading seriously as an educational tool and not being flippant about it.