This is what I'm anticipating. I have a huge library of trading books, 99% of which are worthless. Every trading video I've seen has been a disappointment. I have wasted hours and hours watching them over the years. The only benefit books really gave me was in the very beginning when they explained the difference between being long and short. That's it. Every strategy and, to an extent, money management technique was useless at best and unprofitable at worst. Ready? Here is every trading book ever: - use multiple timeframes - find some indicators you like - don't risk more than 2% in a single trade - if your equity falls more than 6%, stop for the month and paper trade until the following month - keep a journal of your trades - don't let a winning trade turn into a loser (this is "guru" advice that is vague impractical without being able to forecast future prices), sometimes also phrased as "you don't go broke taking a profit," which, again, is misleading and stupid - don't let your emotions control you I just saved you a ton of money on trading books.
Yes. No. My "looking at historical volatility" involves pulling up a 1 or 2 year chart and seeing how much price moved around. Am i doing it wrong? Good thing I know about elitetrader!
Heh I drove an S Class. Thats not the point. I too read close to 50-100 books, but the actual learning is when I really put money down, look at the - and + on my PnL, and lose some money in order to learn. I have seen people who traded the markets for 20 years. They still lose. In this field, experience doesn't really count.
There it is the Holy Grail in plain sight - who said the quality of posts in ET has fallen over the years