Metoo, there is a message in B's statement about ego, yours and everyone elses, this is the common denominator that we all have that allows us to blindly mask the truth and refit it to our situation, specifically in trading, refit the truth to our account or position. In most walks of life you can get away with it, but in trading it is your achilles heel. Thye market does a check and balance on your capital minute by minute.
you don't train to be a trader, you dive in and you trade. You read stuff but what you read is like a college education , it's not practical on the job. and you will have to throw some of it out the window. But anyway trading is not a job, is not a way to earn a living . I am not talking about a trading job in a financial institution which usually is a different line of work such as executing trades for a fund or for prop taking advantage of privileged info . This does require training but not so much exceptional talent. Trading you own capital is different. This you fall into it and then you can never get out. It 's something that happens by chance and then either you are a hero or a zero.
My 2 cents. When I started I purchased books. Read and reread some. After starting to trade, using some of the books ideas, I realized that if someone had a great method, why tell the world. I then chose one commodity to trade. I spent several years trying to come up with a trading method. I finally came up with a profitable one. I trade the spread and outrights. I tried my method on other commodities and they don't work. My advice is to learn 1 market well and go from there. I applaud the people who write the books and come up with different ideas but I wasn't able to trade profitably, just by reading a book. The internet has a wealth of free information, use it. Remember, trade with the trend. Good Luck
I just want to say thanks again to everyone for their contributions. Can trading really be as easy as many suggest, coming to the market with an open mind ( unbiased opinion ) trusting yourself and just taking the trades. I will look to examine this philosophy when I get Tradestation set up next week as it will be easier to scroll through data applying this technique. RN's words as the words of many others ring loud and clear ( trust yourself ) and trade what you see. Thanks to All! metoo Note to self: Successful traders are humble!
Note To Self: Based on my own experience as well as working with hundreds of traders over the years, I have come to the conclusion that there are three major components to winning in the stock market: An excellent method, a customized plan that fits you, and the right mental approach. While mastery of each of them is paramount, building the right mental approach seems to be most challenging for the majority of traders. Without a winning attitude and the proper mindset, even the soundest of all methods will lead to lost money. In fact, a winner is more defined by mental makeup than by method. This is why the trader with a winning attitude and a faulty approach can still produce positive results, while the trader with a loser's mentality will stumble and fall, despite an excellent approach. Don't think so? What do you actually think causes one trader to play six winners in a row, and another to experience six consecutive losses? How is it that one trader can use a daily newsletter and win, while another uses it and loses? What do you think differentiates the person who buys XYZ and wins from the person who buys the same XYZ and loses? The difference lies in the mind, plain and simple. One of the most revolutionary axioms I have ever come across is this: "As a man thinks in his heart, so is he," and this universal truth is just as applicable to traders as it is to anyone else. Monitor the attitude of a winner and you will find a level of confidence and certainty that is almost beyond belief. And while most people will make the mistake of assuming that winners are confident and certain because they win, the truth is that winners consistently win because they are confident and certain. No method, however sound, will work for the trader who mentally pictures himself losing before each trade is placed. And no amount of money, however large, will save the individual who secretly harbors the belief that "Whatever I touch turns to mush." As choice-making individuals, we must choose a winnerâs mindset. You can never fail, or even feel like a failure, if you recognize the simple fact that you are not your results. You create them, which means that you posses the power to alter them if you happen not to care for them. There is room at the top for all dedicated traders, but the first step is to actually believe that. The second is to start acting like it. Think the part, then act the part, and the rest mysteriously takes care of itself. But don't just take my word for itâ¦try it. By Tom Willard of Pristine.com
Metoo A suggestion Sir⦠Take these âNote to selfâ posts â and start a journal Itâll give you a central repository for all your âpearlsâ â and you just never know who else might enjoy them btw - I like this last one Take Care RN
tHis joker is a shill for pristine. Come on trader zones. We have pristine and traderplanet shill assclowns working elite and not a word from you. Come on man get to work
Sir, Just so I'm clear - who are you refering to as "the shill" I've never dealt with pristine And I'm pretty sure "Metoo" is not - he's trying to figure out how to become a day trader btw - I still like the quote RN
Zentrickster I'm not pushing Pristine just wound up on their mailing list. It is a good article for myself and others to review. I did take a trial offer to their emini trading room a while back. If a person is just starting out and can't tell up from down perhaps it would be a good program for them but they had better be prepared to pay up. Regards, metoo