Hi, ET! I am new to ET and trading, so I just want to introduce myself first. I am 19 years old and I study finance at the moment. I find trading very interesting and dream of a job as a fund manager/daytrader and maybe a investor later if I succeed. So, when I first enter the world of trading few days ago I read much about technical analysis and use this to find triggers. My first day I made really good profit. I started with 2000 NOK(not much, but I am a student), and ended with 3000 at the end of the day. Next day I made it to 5000 NOK. I thought I was king, and could make much more money! Then, yesterday I entered the marked once again and started to lose money because I did not stick to the plan. I got nerves and desperate to get my money back. But I just lost more and more. And now I am sitting with only 1000 NOK. Its horrible. I was stupid who thought I was good enough to daytrade. So now I want to do much research before I start trading again, because I am afraid to enter the market without knowing how to do it. When I did technical analysis I bought when it breaks the resistance line, but it just fell down even more and made huge losses for me. -So could some of you guys give me some advice where to start? -What kind of strategy and style of trading do you use? -What are the triggers you are looking for to know when to enter? -Is daytrading about only looking at price and trends, or is news and volume important too? Would be grat if I got much advice where to read tips and how to be better as a trader! Thanks!
how the hell he would know that the mentor is REAL? how many real ones have you seen? i've seen none. all shit that i trade(all ideas,software-everything) is my own. gathered thru countless of hours of market observations..and how much the "real one" it's going to cost him? at least OP was not asking for "complete system" aka show me how can make few mill's in a year or so... OP-for start you have to ask yourself few questions..like how much money do you have to play with,what is your objective,a time frame you are comfortable with,a vehicle(stocks,futures,options whatever) , are planning to trade your own money from home or join like a prop shop or something,what skills do you have(programming,math,statistics etc) and so on. try to read some journals here. maybe this will give you some clues.
What are the signs of someone who makes something REAL?I`ve seen a couple down here,but doubt if they would willing to mentor.I know it is not a small task,but for the OP the only way to make it, without seriously damaging himself,financially, emotionally etc...There is no other way!Gathering thru countless hours(years maybe) might work as well.The choice is OP`s.
What happened to you happened to every trader who never made it and to every trader who did make it. It's NORMAL and the good thing is that if you learn your lesson you'll be way ahead of the vast majority of traders. You might not believe it but some will make the same mistake you made and lose 50k or more. About daytrading: you might find interesting the thread below. It is not necessarely what you want to hear but it will surely help you to see if you want to continue learning about daytrading. http://www.elitetrader.com/vb/showthread.php?s=&threadid=194342&perpage=6&pagenumber=1 Good Luck
ask Snakeeye if he is willing to teach you... he is the best trader i ve ever seen... he was my mentor, too..... love this guy....... -------- serious: open an account and study the price.
Trading is about power. The power to win no matter what the market does. If you got unlimited buying power winning is a piece of cake. That's why 90 percent of small traders lose. They just lose.
Dont you get sick of always the same phrase. i would say: 50% just lose, cuz they are gamblers. 20% lose in hard trying, bcuz they are amateurs. 20% lose in very hard trying, bcuz they are undisciplined pros. VS 10% very disciplined pro traders, who win almost all the time. They just win, just win.....
Thank you! Yeah, I´ve learn my lesson. And form now on I am going to read and learn much more before entering the market again. I want to be a trader who buy and sell in a very short timeframe. Kinda like scalping? But I need some strategy to stick on and learn. Some advice where to learn different strategies? And setup like oscillators and what chart you guys are using? Would be great with a mentor too. But how do I find them?