I believe you can teach anyone to trade but, each of us has his or her bias to start with. Each person also "will not" expend the same energy to learn all they can about the market. A number will trade even before they are ready and commit large sums on a couple of trades. I had a friend you blew about $320 K of a $380K account because she decided to trade huge sums because "nothing was happening" and she wanted to make large sums of money right away!!! I have been guilty of entering positions too soon which is also a bad thing!!! Each person trades differently too, which is the X factor. One needs to be dispassionate about trading (that is a huge hurdle that we have to overcome) yet, we as humans are full of emotion especially when you have money on the line!!! Probably, the best approach to it is to study, study and still study and not be arrogant to believe that you know everything even if you reach the point of being a successful trader. Continue studying as your trading system may not be as good in the future as it is today. That way, you will be on the ball as they say.
I must admit the superstar traders seem to have been born with a talent. But I did see it develop over time. In myself, I have had to learn and struggle. I am learning today. I am consistently profitable and in time I will develop. I was not born into this. But my passion makes up for that. In Retail trading everybody takes away so much from you, you almost have to be a superstar trader to survive. Sorry, but this is the cold, hard truth. I know this will not stop the next guy with what he feels is an "edge" and superior talent to get knocked down. Michael B.
Hello Michael: A very honest post, sir. I'm no expert on superstar traders (just what I've read about them in books) but I think most people just have to work their a$$ off to get anywhere in this world unless they are born rich and that's a curse. It doesn't hurt to have a modicum of brains and passion to sustain you on your decidedly up hill journey. If I was starting out from scratch, I'd mind a mentor. I'd develop a skill to get on the inside (like computer tech, for example) amd once there find out who in the firm would be willing to share with a young hungry guy.
YES, from the INSIDE- not the outside with my face pressed against the glass. People let their guard down easier.
Every post I've read of yours tells me you are one smart dude! Looking forward to using the search feature to read more. If you trade the way you think I suspect you do quite well unless you have a handicap like a tendency towards gambling.
This actually is true. you must make it your own. This guy showed me his system a couple of weeks ago and wanted me to refine it. I could see that his system worked, but it was not my way of trading. So I have not enthusiastically refined it. Michael B. Also, I don't really believe that professional trading means learning or using someone else's system.
Did anybody mention SELF taught? A lot more to learning than sitting in a class (seminar) or reading a book/books on trading. What about observing markets for yourself first hand? Who do you trust more than yourself?