OP, Now that I've paid my dues, I can look at a chart and tell you everything you'd need to know to put on a position in about 10 seconds - market state, R:R, is it acting like it should based on the trade taken (rtm, trend). Even further, IMO, profitable trading could be taught and learned in 15 minutes. Once I found a way to consistently profit I searched like a mad man for more information, but didnt find even a word on it. Then you know you got something.
...So to answer your question, if its an intellectual endeavor you seek you may be barking up the wrong tree, but if you're looking to make money it is worth the time, far less risky than investing. BD
or exact opposite. when one (for example) want to be a hvac installer-he can grab a book,read it,pass test(or go to some evening school and learn the knowledge) and then start working and making money. the most he can lose is his time. you did job-didn't get paid. you CAN'T loose in this game and that skill will always make money for you. you can't have that in trading. you can waste 10 years and learn and earn NOTHING. or even worse-have some serious losses. this is main difference between trading and regular skill\profession. OP-just make sure you know that
ok..no statements or screenshoots so far and everyone is making millions here...easy money and i'm alone, struggling making living actively trading stocks in this market.. i throw you another bone.. you know this guy,right? http://thepatternsite.com/ he done tremendous job with patters.they all there. classified and all data was avaliable. all stats,all probabilities. just pick one and trade. or pick top 10 and trade..all info is free so one can study as long as needed and can became millionaire in no time. but wait..oops.. http://www.thecrosshairstrader.com/...he-failure-of-popular-stock-trading-patterns/ wtf? i thought i was alone..but wait..there is more! the article was dated by 2009! and i'm pretty sure it's only got worse..what's going on here? now..can anyone explain why patterns are not working?
The fact that there exists a population of market participants who show a positive P&L over an extended period of time and without "inside information" IMHO dispels the theory of randomness. I just think the academics are a bit lazy and uninformed. BTW, there is also a population of well credentialed academics who have managed to become traders and fund managers in lieu of Nobel laureates.
Most likely. As I said, I haven't traded stocks since '98. If you're doing well with it, more power to you.
Why do you care so much? Unless you're planning on following somebody, it doesn't make the slightest difference what anybody claims or whether they are good as gold or total bullshit. I never pay any attention at all to the claims made on these sites. If I know someone's plan, then I can judge for myself. If they don't provide a plan, then as far as I know it's all just fantasy, regardless of all the statements, screenshots, blotters, blah blah blah. And I've seen a lot of fantasy in twenty years. In any case, whether someone is wildly successful or making it all up, none of it has anything to do with me. Whether I'm doing well or poorly has nothing to do with whozis. Do you have a thoroughly-tested, consistently-profitable trading plan? If not, then how can you hope to succeed?
you already got great answers, but I'll add my $0.02 worth if it's any help, this coming from a limited-capital, struggling trader in primarily equities and options. help The most important thing to understand is risk and risk management, this will help in keeping you out of trouble, and in making money, where there's risk there's reward. Learning Options trading and understanding Implied Volatiltiy and the greeks will help you understand your risk and help you choose the right strategies to apply whether you're bullish, bearish or neutral. HTH