how to learn trading?

Discussion in 'Trading' started by Aryan.1234, Apr 24, 2020.

  1. Real Money

    Real Money

    You need knowledge, an edge, capital, and time to make it work. Then you need to be smart about risk. Gotta have good trading software.

    I think the best markets are interest rates and index futures.

    The best traders know dirty tricks and secrets. But, these are usually complicated and hard to learn about. My dirty tricks are knowing how to program quant finance type stuff and industry knowledge.
     
    #21     Apr 24, 2020
    never2old likes this.
  2. Snuskpelle

    Snuskpelle

    Trading is a subject where you have to fill in many blanks on your own in a very complex environment. "someone plz teach me the secret" isn't going to get you anywhere.

    Suggestion to OP: Start by thinking about on your own what impacts price. Do you think it is always because of a magical pattern in the chart or could there be more down to earth reasons that cause people and machines to buy and sell?
     
    #22     Apr 24, 2020
    ironchef likes this.
  3. snowman80

    snowman80

    also remember who you're up against in this game:

    [​IMG]
     
    #23     Apr 24, 2020
    Nobert and wrbtrader like this.
  4. Aryan.1234,

    What courses or books did you read?

    The problem may not be the courses or book, but your failure to do exactly what the courses or books tell you to do.

    Ask yourself, are you doing everything the courses or books tell you to do.

    You may need a mentor to tell you how to think and what to do and what to practice.
     
    #24     Apr 24, 2020
  5. smallfil

    smallfil

    Simplify your trading. All those indicators are not all they are hyped to be.
    Simplify your trading. Less is more. Indicators are a crutch to those who relies on it blindly instead, of using your head. Learn to accept losses and keep losses small. Small losses should not bother you if you have proper risk management. All it takes is a couple of big wins to wipe out those small losses and put you ahead.
     
    #25     Apr 24, 2020
  6. Learn equities, it's the easiest route. Once you learn equities then futures become easier. Just pay a trading firm that can give you actual proof of results. Who cares if it costs a few grand if they can teach you how to make 6-7 figures and give you the best deal on commissions, execution speed, leverage etc... Yes, lots of free and cheap education out there but you don't know what is useful and what is useless so you'll waste time learning garbage instead of working to build an account or studying charts with the proper techniques.
     
    #26     Apr 24, 2020
    LouStreet likes this.
  7. ironchef

    ironchef

    It is like someone gives you a trajectory/flight plan for India to Los Angeles and you try to use it to fly to London.

    You need to know what goes into that flight plan.

    It is easy for me to pontificate but it is another thing for me to know what exactly go into price charts because I don't know. :(
     
    #27     Apr 24, 2020
    never2old likes this.
  8. ironchef

    ironchef

    Hope this helps:

    https://www.elitetrader.com/et/threads/understanding-price-action.343767/
     
    #28     Apr 24, 2020
  9. The problem with trend lines etc. is that they work only in certain situations. News, for example, will almost always blow through trend lines. Trend lines of a specific ticker are of no use when the market moves against them. And so on. This isn't to say that indicators/trend lines can't be useful, but they're often taught by these books and courses as the ONLY thing you need to trade, because a screen full of trend lines and retracement lines looks impressive in a book or seminar. If you want to trade trend lines, you should also learn about macroeconomic concepts that allow you to read trend lines/indicators in the context of larger market pressures.

    Also, risk management. Assume for a minute that you have an indicator that works 55% of the time. And just so we're clear, that's a major best-case scenario ... that's a guru-level "let me sell you this indicator for a million bucks" type of indicator. But let's assume you had an indicator or trend line setup that worked 55% of the time. Could you make money off it? Do you have the kind of risk management in place, and the capitalization, and the psychology, that allows you to profit from a setup that fails 45% of the time?
     
    #29     Apr 24, 2020
  10. First of all, you need to undergo training, and you can also use the binaries of professionals.
     
    #30     Apr 25, 2020
    SimpleMeLike likes this.