Regarding Newbies

Discussion in 'Trading' started by daniel_m, May 5, 2002.

  1. I posted this as a reply to a recent thread, but I'd like the last point ("NOTE TO BARON, MODERATORS") to be considered by traders in this forum and some ideas given on how to deal with recurring newbie questions.

    Here's a pointer. There are 50 or so pages of threads in the "Trading" forum. A good start would be to go to page one and read through all them, as the subject of "beginner-seeking-advice" occurs quite readily.

    You might find others here get somewhat exasperated with answering the same "where-do-I-start?" questions time and time again. I'm not accusing you of this, but sometimes beginner questions are interpreted as "guys, how do I trade?" This tends get under people's skin, cos, where the f**k do you start trying to answer a question like that?

    After you have read all the threads (and any other research you must surely be doing), if you have a more specific question to ask, I'm sure you'll find traders here more willing to accomodate your request and share their knowledge. The better questions you ask, the better answers you are likely to get (not only here, but in life in general.)

    Also, I think it's fantastic that you're starting out at such a young age, (not that there's anything wrong with starting later) - you've certainly got Father Time on your side.

    I really hope, though, that you don't seriously think that reading "a couple books" and getting some basic knowledge on L2, direct access and off-the-shelf indicators is all you'll need to get started with.

    I think trading presents an illusion to the prospective trader that just because it's easy to get started, that you don't need to spend a long time preparing. (I mean, compared to most other ventures, there are precious few barriers to entry and one can get the necessary equipment (hardware, software), comply with regulations (paperwork, agreements) very quickly and presto, you're up and running.)

    In reality, trading (profitably) requires as much preparation as any other important undertaking, perhaps even more so, as having a thorough understanding of one's own psychological makeup is more important in trading than in most other activities we take part in. (FWIW, I think part of the reason for this is that trading is one of the few activities in life that it costs you immediate money to be bad at. For example, you can be a terrible salesman, and come home day after day not having made any sales, yet it hasn't cost you any money. Sure, you aren't earning anything, but neither are you losing what you already have. So, being bad at trading is double whammy, in that not only is the pain of being bad at something present, you are paying for the privilege also! Which, needless to say, takes its toll emotionally.)


    How about starting a forum entitled "Beginners" or something to that effect. That way a new trader can have one easy access point to the basic information, without having people here answer the same questions all the time. (I think this goes for people that ask, "Does anybody have a good way of trading ?" I mean, come on, how the f**k do you answer that?)

    What do you guys think? The only problem I foresee, is that it might mean a rise in the Snake Oil Index.

  2. toby400


    Great idea to have a beginners thread in order that beginners are directed to one place of collective wisdom.

    However, as mentioned, how do you spot the snake oil shark from wading in the shallows snapping at "newbies" as they head for the sea of trading insights?

    Perhaps an experienced trader(s) could act as moderator(s) to have sight of posts before they are posted onto the "Beginner Questions" thread?