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.
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.
YOU HIT IT ON THE NAIL!! TRADING IS JUST COMMON SENSE!
JUST BUY AT SUPPORT LEVELS AND SELL AT RESISTANCE!
TOO EASY TO FOLLOW MANY CAN'T FOLLOW THIS SIMPLE RULE!
