friends want to learn trading, funny spectacle

Discussion in 'Trading' started by insert, Jul 14, 2007.

  1. insert


    This what I am about to write here is interesting and speaks to why some people get it and others don’t.

    I am a successful day trader. Well I keep company with bright people, all academics, realistic men of hard work and discipline. So they approach me asking to learn how to trade successfully. Me being a decent guy decide to point them in the right direction.

    First I tell them read fully Reminiscences of a stock operator. Several times if need be.

    Second I tell them completely ignore all public indicators, focus only on studying price support and resistance, you only need trend lines.

    Third I tell them, ignore news completely, news trading is unnecessary

    And finally, I tell them, pick an instrument, pick a smallest lot or contract, and trade everyday, practice makes perfect.

    Out of 4 academic friends who wanted to learn to trade.


    Point is, if you do not have true interest in trading, the kind of interest that keeps you up at night.

    Just pick something else to do with your life.
  2. EXACTLY. I can't sleep at night knowing that there are other traders out there still up working.
  3. insert


    OK lets not go crazy here :D
  4. They didn't like the book.

    Most people expect to learn from a systems points of view if they are as you described.
  5. Hey insert, you're back. Dude, you want the video???
  6. I tell them to go read what you want, got questions here's my number.

    My brother took a business class, one assignment was the stock market, pick some stocks with play dough. He-emailed me his picks. He asked no questions, so I had no answers. I tracked them, ho hum down, down, down. Short time later, his first question was "Do you have any stock suggestions/picks that will go up fast" :D
  7. azukar



    Someone who helped me greatly in getting over the hump once told me..... the world is filled with losing traders who still think they know best - don't be one of them.
  8. Despite education or social/financial status there exists the notion that the stock market is a road to riches if you cherry pick the right stocks and your timing is good. True to a point, however, we know the reality to be non forgiving for the ill prepared.

    Individuals who see a successful trader flying high and navigating the markets probably think it's like flying a small twin engine plane.

    "Just give me a few lessons and a briefing and I'll be ready to fly. If I have any questions, I'll call you."

    A short time later the phone rings. "I've got a problem, I'm @20,000 feet and one of my engines is out! How far can I fly with just one engine?"

    Your response: "All the way to the crash site."
  9. insert


    no that's ok, I figured out how to lose weight

    I buy a nice orange juice from California

    and I dilute it, and drink it

    it is satisfying and keeps calories to manageable

    all of you fatsos out there use this method

    I won't patent it :D
  10. insert


    Jack I'll send you a PM

    no I don't need answers to holy grail or interpretation for anything you wrote

    please see my PM, because I doubt anyone told you what I want to tell you.
    #10     Jul 15, 2007