Most Important Lesson Of The Year.

Discussion in 'Professional Trading' started by Eddiefl, Dec 21, 2010.

  1. jinxu

    jinxu

    Good trading advice is like advice on quitting smoking. No matter how much you show that smoking is bad, most people will still not listen. Some may quit eventually but only by the hard way. The rest will get cancer.

    Everyone thinks they will become the next trading success story, but statistically that's not possible.

    In trading:
    Those who don't know, love to talk.
    Those who truly know, don't like to tell.

    On ET:
    Those who don't know, love to give advice.
    Those who know, don't give a damn.

    This is my 277th post and will be the last one for the year.
     
    #51     Dec 24, 2010
  2. pspr

    pspr

    Biggest Lesson: Discovering I'm not as smart as I think I am.
     
    #52     Dec 24, 2010
  3. Eddiefl

    Eddiefl



    lol,,i hear you. Nothing like a 2 month streak and then a 2 week drawdown from hell to bring me back to earth.

    EF
     
    #53     Dec 24, 2010
  4. momoNY

    momoNY

    Completely agree with you. It seems the terrible twos last only 10-12 years, before the terrible 15s start! where you can look for friendship, and may be teach him to trade.
    Until then just be a good parent.

    Momo.

     
    #54     Dec 24, 2010
  5. Currently living that dream, 14 (6'2') and 17 (6'3") I miss the days when I could physically pick them up to get my way.
     
    #55     Dec 24, 2010
  6. You should add:
    Those who can't make money, try selling their worthless system.
     
    #56     Dec 24, 2010
  7. My biggest lesson learned has been cut losers short and ride winners, don't over trade!
     
    #57     Dec 24, 2010
  8. I agree pretty much with the theme of this thread.

    1. Scroll back to longer time frames
    2. Trade with the trend
    3. Be Unique - be able to make informed trading decisions for yourself
     
    #58     Dec 24, 2010
  9. magix3d

    magix3d

    1.) Always trade, and stay in the market. (pay attention to it). It will help teach you to keep your emotions under control. ( i periodically go in the market for 2-4 months then hit a losing streak, then take a break, then come back) But each time I get back and stay in I have this emotional euphoria that impairs my judgment.

    2.) When he ADX is relatively low, look out for a quick move (up or down) soon.
     
    #59     Dec 24, 2010
  10. Eddiefl

    Eddiefl


    Agree on all accounts. I got to say the longer time frames for me, changed it all.

    EF
     
    #60     Dec 24, 2010