POLL: If you could give one piece of advice to a new trader

POLL: If you could give one piece of advice to a new trader

 

I would chose - don't waste time creating polls on elitetrader and stalking Timmy Sykes.

 

Depends on their personality, managing their expectations is key.

Also realizing you can have a good position and lose money, and thats a good loss.

Proper position sizing and risk management will be the toughest to master.

 

there's a whole slew of interesting articles here http://www.trading-lab.com/forums/trading_articles-f61.html

 

Never play cards with a man named Red?

 

Dont listen to naysayers, failed people will always try and convince you that you will ultimately fail too. Learn TA in a way that allows you to see consistent repeatable patterns and exploit them whenever they come up.

 

find a profitable trader & offer to be his sex slave if u have to

 

Stock your basement with canned foods, bottled water, and lots of ammunition.

 

It's easy to make a small fortune trading, all you have to do is start with a large fortune.

 

remove all pressures to make money
1) paying rent,
2) food

Focus on executing right trades, with no emotions each and every time.

Try not to be excited when you win
Cut losses faster then you can get depressed when you lose.

Always think contratian, when you are winning $$$, step away from the sheeps and sell. Focus on where the big players execute their trades.

Good luck for the next 3 years.