I agree with a lot of what TE says. Traders are born and not made? I guess that statement comes down to the individuals definition of the word trader. Is a trader someone who is making $50 a week with an fxcm account? Is a trader someone making 7% a year on a 5 million dollar account? Both examples are pretty poor examples of traders, so where are the lines drawn?
Who the hell cares about semantics. It ultimately comes down to one thing: money. Nothing else matters in this game. Unfortunately TE has a penchant for writing useless crap like pavlov's dog than about trading. Stop this mental masturbation and give me something concrete! Here's my own useless advice for all ya aspiring traders: Just as in life, if you want to succeed as a trader, the very first thing is to know who you're hanging with.
Catching up on some reading and its gotten earthy in this thread. I don't even understand what some of the words used mean... "Traders are born not made" - sounds like the original thought of the thread - that you have to think through enough for yourself before you finally are self-born and "GET IT", as it were, not being manufactured (made) by someone else... Maybe you have to be NEO (the ONE) to "GET IT". Or maybe not, in small, fragmented pieces, before making it to higher ground... Or maybe it just can't be got, not for all the tea in China...
I post real time trades in my journal on HSM. Why can't you TE or even a simple YTD % gain screenshot? Have some conviction in your insight.
Lets hope not; You realize you have none.:eek: Humor us TE, make a live call Please please please teach us how to trade. Ha Ha Ha
You make a good point about your position on a new potential trader. The challenge a person faces to think about even the simplest things is insurmountable to most. Bar 81 was black and ended a price move. The challenge was to recognize that the top of that bar was significant. This is way beyond the degree of difficulty of most people. A principle as simple as trading from an end of a trend to the end of another trend is so difficult. The briefest trends are two or three bars long. They require two lines be drawn. Fifth graders love doing this because it is so simple for their uncluttered minds. Imagine a person given a simple task that is repeated over and over with two consequences: he never loses money and in 6 days his profits allow him to make 100,000 a day for the rest of his life. It would be just like being a valet at a restaurant. You have to park 20 cars an evening and you get paid a tip as you park of 500 dollars per car. The challenge is to learn how to park a car. You have to draw the lane for the car to follow and you have to park it at the end of the lane and go get another car and repeat. you have to learn to draw two parallel lines that go to a place where the car cannot go any further. You can see when the car cant go any further. Not anyone can park cars. They gave to know how to draw RTL's and LTL's. The restaurant owner uses a bar 81 and the begining of bar 1 to test the job applicant for parking cars. There is a down parking lot to go to for last Friday's bar 1. You didn't make it to become a parking attendant who in one week is making 100,000 an evenng. It would be fun to have an American Idol of Parking Cars. Each week all contestants would draw a parallel ogram and the next week get a new bar. They would look as the music played until they could chose to reverse and get ready to draw anther line the next week. They would have to beookmark too if they reversed. Every bar they look at the end of bars and find out if it is an FTT. IF it is they reverse. It does get complicated. If on the next new bar the bar goes through the book mark they reverse. If it doesn't they have to check to see if it is an FTT and they made a profit. If so, they reverse. Many other things can happen and they all have the same decision result called HOLD to make more money. So they do more bars until they do a reverse on an FTT or a bookmark. In 6 sessions of American Idol of Parking Cars, all successful contestants are making 100,000 a day's worth of bars. I bet the audience would grow after a few sessions since the audience can play along every day in real time on the ES. Who would be in the audience? Not 90% of ET. No one in ET wants to play American Idol of Parking Cars by drawing RTL's and LTL's and finding FTT's and bookmarking to stay on the right side of the market. There is no one who would rnt the Dome in N O to make a oil spill reinforced cloth container and collect and sell all the oil from the spill and protect the environemnt either. epoxy bolts of cloth together to get a 3,000 foot circumference tube. Make 6 1,000 foot tubes. Connect them and lower them from a floating ring. Pump surface oil with 20 pumps on barges into lighters and sell the crude to a refinery (s). Liqufy the nat gas and sell it too. Whoooo Hoooo. A 3 to 5 day assembly job in the Dome. They are making long yellow booms that don't work in the wind. Use reinforced rubber and kevlar to make a 1,000 foot diameter tubes instead. Hook 5 or 6 together to get to the bottom in a 1,000 foot diameter tube. Seams, pleats, roll and put on a truck/barge. coonect each 1,000foot tube until you have 5,000feet to go to the bottom. Collect ALL oilk and gas. Sell, make money. Pressure drops then put on permenant cap and make money. Store the tube for the new spill that is coming from all the oil companies that cheated on the environmental impact statements as copycats. Or make a few and use them on all Experimental wells in gulf Artic and veywhere else. Set up a oil tube company. It is just a large diameter low pressure pipe that is very very cheap and fast to build. So some one put up a clean chart for last Friday. We can play americam Idol Parking Attendant with the bars. Who is going to build the tube to stop the oil leak?????? Is it too easy to do?????
I'll head over to where the rubber meets the road thread and explain how to be a beginner who trades the ES and continues to take the market's offer by keeping it KISS.
Made $526 Sim Money today on 1 NQ contract. Wouldn't mind doing that for real every day. Trade1: Short Win Trade2: Short Loss Trade3: Short Win Trade4: Long Loss (fairly large loss) Trade5: Long Win (huge win) Trade6: Short Win Uploaded with ImageShack.us