Try to learn/design the most basic of trading system/strategies. Here is a great place to start in My opinion: 1) Pick 75 stocks, and have that as your pool of stocks to trade 2) Choose the top 1 or 2 stocks that has the strongest trend, the most violent move up or down 3) get on board that stock on a pull back (vice versa for shorting) study these types of moves, also trade in longer term daily chart, 4hr chart, etc. Trade small. Trend reversals are much harder to learn than trend continuation. Focus on Trend continuation for until you know how to make money that way. Don't get sucked into short term trading, its very profitable, but also the absolute hardest to learn in my opinion. IF you can't trade long term you definitely can't trade short term.
just do it, man you did not read the articles of how pleasurable the sex is , you just did it first time and saw for yourself if it was there any truth to it (unless it was painful the first time) the same with trading: do it - open account, put money in it, and trade, the first time, unlike in sex, it goes smoothly for most ...then you figure-out the rest do not be afraid to live your life, be afraid to live the other guy's life
Thank you all for this varied mix of responses. It really helps to see how people respond to a new guy after they have been doing this for awhile. I know I just need to do it, starting small, and I'll report back, tail between legs and all . The reason for the post was general anxiety about the high failure rate and wanting to arm myself to maximize chances for success
the blond was asked what is the probability that a dinosaur will come from around the corner in the next 5 minutes 50/50,- she answered - it either will come out or not
it's understood, one wants to avoid to be burned where the other been burned the reasons for the high failure rate in trading (and it's not 90%, it's imho about 99.99%) is simple - people do not know what they are doing, and it takes a very long time to develop the know how as to your questions, if we each time will respond with the step-by step explanation as to where and how , when some novice comes here with bright ideas asking to show him where he is wrong, there will be nothing else left to do the beauty of trading - you on your own, is not it why people keep going there despite the high rate of burning out?
That is 1000% right. That's the bottom line. And the only way to know what you are doing is to trade daily. Get in the trenches.
The flaw is simple as following: To be in profit you have to be consistently first at receiving important market information right? If you get the news first that the train with apples going into town exploded, you have valuable market information, which will affect supply&demand of the apples in town, resulting in upward change in price. You can make a bet on rise in the price of apples and you will win. Right? Now imagine there are thousands of clever guys investing millions to get milliseconds edge to get this valuable information first. You see all is played because of information assymetry. How you can guarantee for yourself that you will be first at this contest?
https://www.forbes.com/forbes/2010/...pivey-wall-street-speed-war.html#1b5b17f1741a Of course bro, was kiddin