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beachhouse
Registered: Oct 2011
Posts: 260 |
03-14-12 05:42 AM
Quote from xdiesel123x:
This guy failed because he cant follow rules.
He said
this is my last post on this website; yet he is still posting
He is an addict. Addictive to trading and posting, not necessarily in that order.
I went short by taking his advice on a different thread, and lost 30k today. My biggest loss in 2012!
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trader198
Registered: Mar 2010
Posts: 1217 |
04-12-12 04:01 PM
that is interesting story. me too, I started with 4k, and almost know nothing about the market, follow my instinct, and in short time, my account gained 10 fold more gains. then I stumbled onto a minor drawdown, I thought I may need read or learn trading seriously. so I read lots of books, and went through forums etc.
the most harmful books I read is: trading in the zone, others such as disciplined trader. those are a shit book. teach you how to lose. put too much attention on technicals, if this breaks, then what, if this indicator ..... in reality, who konws when a move will happen.
those books suggest I need stop loss, bla ... each time I read, I stumbled ...
then I realized trading is not about stop loss/economic data/projection, just common sense: buy low, sell high.
avoid any suggestions/books/tutorials/TV/news/opinions, think independly and trust yourself. you will be among the 10%. that is my conclusion.
Quote from blowingup2012:
Before I start off, let me say up front this will be my last post to this website. I came here today just to make this post.
I discovered the stock market during the Christmas of 1998. I remember watching CNBC and watching how things were moving up. I decided to get a Interactive Brokers account. I decided to trade CHK exclusively with a small account...about 20,000. CHK kept moving up and I kept daytrading it. I moved on to other stocks eventually. I actually had no idea what I was doing, but somehow I was making money.
At some point in 2004, I started reading websites, blogs and other such things which set me down the wrong path. It seemed the more "knowledge" I took in the worst I did. Before that time, I hadnt considered looking at charts and didnt really know what an indicator was. I didnt even have a strategy. Just daytrade a few stocks that seemed to be on the move up from day to day with tight stops.
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xiaodre
Registered: Feb 2007
Posts: 372 |
04-12-12 05:12 PM
I have seen people on this site try to mislead aspiring traders before. More specifically, I've seen people come right out and tell posters to stop posting because their content is useful to people. Or, do not give away their secrets. Etc. Stuff along those lines.
The thinking is that the winning few need many lambs for slaughter, and so, why help someone? You want their money. You want them to trade when they don't know what they are doing. It's easy money for you.
That's not how I see trading or traders.
The quoted below is stupid advice. It's more. It's malicious. If it was meant as a joke, there's nothing funny about it. It should be disregarded.
Quote from trader198:
that is interesting story. me too, I started with 4k, and almost know nothing about the market, follow my instinct, and in short time, my account gained 10 fold more gains. then I stumbled onto a minor drawdown, I thought I may need read or learn trading seriously. so I read lots of books, and went through forums etc.
the most harmful books I read is: trading in the zone, others such as disciplined trader. those are a shit book. teach you how to lose. put too much attention on technicals, if this breaks, then what, if this indicator ..... in reality, who konws when a move will happen.
those books suggest I need stop loss, bla ... each time I read, I stumbled ...
then I realized trading is not about stop loss/economic data/projection, just common sense: buy low, sell high.
avoid any suggestions/books/tutorials/TV/news/opinions, think independly and trust yourself. you will be among the 10%. that is my conclusion.
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wonereheb
Registered: Sep 2011
Posts: 19 |
04-12-12 08:19 PM
Quote from trader198:
that is interesting story. me too, I started with 4k, and almost know nothing about the market, follow my instinct, and in short time, my account gained 10 fold more gains. then I stumbled onto a minor drawdown, I thought I may need read or learn trading seriously. so I read lots of books, and went through forums etc.
the most harmful books I read is: trading in the zone, others such as disciplined trader. those are a shit book. teach you how to lose. put too much attention on technicals, if this breaks, then what, if this indicator ..... in reality, who konws when a move will happen.
those books suggest I need stop loss, bla ... each time I read, I stumbled ...
then I realized trading is not about stop loss/economic data/projection, just common sense: buy low, sell high.
avoid any suggestions/books/tutorials/TV/news/opinions, think independly and trust yourself. you will be among the 10%. that is my conclusion.
Those books are psychology, nothing about technicals, he says right in his zone book "The trading system you choose can be mathematical, mechanical, or visual (based on patterns on price charts). It doesn't matter whether you personally design the system or purchase it from someone else, nor do you need to take along time or be too picky trying to develop the best or right sstem."
He says "For those of you who might be wondering, I'm not going to make any recommendations about what system or variables you should use"
This is page 189 and 190.
Where's the pages with all this " technicals, if this breaks, then what, if this indicator" ??????
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