Registered: Aug 2007
04-12-12 10:21 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.
There was a time I bought all the books on discipline, Van Tharps was the most costly, but it is the best book I use to keep for a doorstop. I don't believe in these books for ME. That doesn't mean they can't work for someone else. I got into and still go for hypnotize couple times a year. My belief system is from times of old, like learning multiplication tables, keep doing them over and over and over till I know it by heart, then do it some more to really learn everything I need to do to trade as my system tells me. Have become a Monkey that hits buttons and does it right.
You find a signal, whether it took 3 minutes or had to wait 5.5 hours, it is perfect to all your set of rules, hit the button, then apply rules of money management. If it is a loss, system loss, if profitable, system was profitable. If you were reason it lost, not enough practice.