Please enlighten me! Confused, young, lost. Input from all traders welcome!

Discussion in 'Professional Trading' started by IvoryOctopus, Nov 12, 2011.

  1. AK100

    AK100

    Got to love self-styled crap like that.
     
    #21     Nov 14, 2011
  2. Admins please delete my three most recent posts before this one, is there some sort of delay between posts sometimes?
     
    #22     Nov 14, 2011

  3. the problem is most can talk about how hard they are willing to work, how much effort they will put in to achieve a bigger picture. Only thing is: most can't persist when the going gets tough in any endeavor. I am not the first to say this. Many quotes from successful persons (the kind you find on Calendars and Posters) say the same. Goethe said: anything you can dream you can accomplish (to paraphrase). The trouble with that is that many can dream while few can work and sacrifice to accomplish that dream. This is well documented; the bell curve supports it.

    Thus, there is ALWAYS plenty of room at the TOP.

    Get the books I said, this weekend (check the library if money is tight - buy them used on AMZN)... finish them by year end. It will give you true insight into the markets, and trading. It will also get your juices flowing.

    Then... learn the fundamentals; the basics ! Start at the beginning. No different than learning to play golf, tennis, baseball or ride a bike for the first time.
     
    #23     Nov 14, 2011
  4. I agree on this part: "very very very smart."

    You may be lucky, but luck doesn't last long. Eventually the lucky one dies.

    You may be illegally informed, but you will get caught sooner or later.

    That leaves only one way: Be very very very very very very smart.
     
    #24     Nov 14, 2011
  5. the1

    the1

    The first thing you need to do is school your mind. Read "Trading in the Zone," by Mark Douglas. You have to be willing to read it more than once because you couldn't possibly absorb it all in one reading. Each time you read it you'll absorb more and the learning curve will speed up. I've read it cover to cover about 10 times and I refer back to it frequently. Once you can think like a trader you can start learning how to interpret price movement like a trader. After you've read this book spend as much time as you can just watching price move. The market sings a song. You have to learn how to hear that song.

     
    #25     Nov 14, 2011

  6. You don't start school in your Senior year, you begin as a freshmen. Start from square one; learn the basics, the terminology, how markets work. After you don't feel totally overwhelmed and begin to make sense of it all... then you can decide whether to focus on a special method or concept and strategy. KISS. Less confusion in the beginning, the better. There is a learning curve in trading or flying a jet plane etc.

    Find out what type of trading fits your personality. Is it options. Is it futures. Is it equities. Figure yourself out, as you learn and read fundamentals. What would "I" (meaning you) be best at given my personality type, goals, emotional make-up etc.

    For example, a good book to invest in would be (in addition to what I suggested above): "Trading & Exchanges" by Larry Harris - - - maybe go on AMZN and preview it.)
     
    #26     Nov 14, 2011


  7. That's too advanced from what I read from the OP post. He has to learn the basics. Like we all did or should have done, first.

    If you can't hit a golf ball far, straight and consistently... you don't begin learning about course management, and train your mind! You practice and learn the fundamentals of a good swing.
     
    #27     Nov 14, 2011
  8. lindq

    lindq

    I agree that Golf holds a lot in common with trading in terms of what's necessary to succeed.

    Years of practice. Solid discipline. Capital to support yourself through trial and error. And yes, a bit of natural talent and aptitude for the game.

    Remove any one of those factors, and you're a weekend duffer and a lousy trader.

    IMO, someone in school should never set trading as a primary career objective. Develop another career path first while you have the opportunity. Then turn to trading later after you've had the time to spend a few thousand hours in practice and on simulators.
     
    #28     Nov 14, 2011
  9. speero

    speero

    I try to do this as littles as possible, especially considering I've been browsing this forum for years and have only now made my first post - but check out our website at younggunstrading.com

    I bring it up because it caters to younger traders going through school, etc. May have some insight as to where you can begin and what you'll go through. The site is literally a log of our journeys.

    Main advice is fine someone who is reputable you can trust and be a sponge to their knowledge.

    It's going to take you a while to find a style that is right for YOU, so I can't say that trading one way or one vechicle is right or easier, everyone is different.

    - @SpeeroTheKid
     
    #29     Nov 15, 2011
  10. What would you say defines a 'successful' trader?
     
    #30     Nov 16, 2011