Tips on how to succeed 4 wannabe Prof. Traders??

Discussion in 'Professional Trading' started by justme100, Sep 21, 2008.

  1. Is that code for "I can't think of a decent reply" or do you really have an answer?
     
    #21     Sep 24, 2008
  2. LOL

    Look i dont come on forums to have petite bitch fights with sados who know absolutely nothing about how to make money trading! :D

    I have a rule that unless ive seen proof of peoples consistent earning then i just don't even bother wasting my time reading any of the nonsense they write! :D :D
     
    #22     Sep 24, 2008
  3. Do you think Tiger Woods became extremely successful via 4-8 hours for at least a couple of months?

    Even profitable trading for a couple of months does not make you a profitable trader. It only means you had a couple of profitable months.

    The only people I have seen who succeed after such little effort are paper traders.

    Try 6-8 hours a day for at least a couple of years. And even then, most do not make it. They keep looking for short cuts.
     
    #23     Sep 24, 2008
  4. spanish89 has just given away a nice piece of knowledge here on how traders actually learn and develop their intra-day strategies.

    Hope you guys use it to your advantage.
     
    #24     Sep 24, 2008

  5. Thank you mate. :)

    I wasn't actually trying to suggest to anyone to 'turn their brain off' while trading, as this would be rather foolish not to mention not actually physcially possible.

    But i was trying to explain to the thread starter and other newbie traders that using your eyes and just spending hours and hours per day just watching the different market movement and patterns, seing how it reacts when it hits S&R levels, seeing what it does when it spikes up quick and fast...

    Is ALOT more beneficial than any uni degree or book can be for you in actually consistently earning money trading.


    Its no bad thing to have a degree, but it is actually irrelevant when it comes to the actual trading.

    Since just because you know all the detailed specifics about the economic system, that when your looking at the screen and needing to consistent profit from short-mid term market price movements, none of that knowlege can help you unless you have put in all those hours each day for nonths and months jsut watching how the market actually moves in real.
     
    #25     Sep 24, 2008
  6. Your Eyes
    1. Your eyes always tell you when price is moving up, and price is moving down.
    2. Your eyes will never lie to you.
    3. Your eyes see price action clearly and simply.
    4. Compared to your mind, your eyes are a genius.
    5. Your eyes are never greedy, and always calm and relaxed. They will always tell you when you have a nice profit after you took the trade that they suggested, to close your trading app and come back tomorrow.



    Your Mind
    1. Your mind always wants price to move up when it is moving down, and it always wants price to move down when it is moving up.
    2. Your mind will always try to second guess you.
    3. Your mind will always try to develop complicated strategies … most of which are curve fit and over 95% of which won’t work (I can guarantee you this).
    4. Compared to your eyes, you mind is a simpleton.
    5. Your mind is always greedy and it is never satisfied. It always wishes you had held on for just a little bit longer, or wants you to get back in the market after you’ve made a nice chunk of change for the day. And it is going to be the same way tomorrow.
     
    #26     Sep 24, 2008
  7. And in relation to your very foolish and immature statements-


     
    #27     Sep 24, 2008



  8. You see nasdaq player when you have have been gained real experience of what traidng is actually liek, will take you well over a year atleast before you do, then you will understand what is written above, and realise how perfectly and accurately written it is, its actually like a beautiful poem.

    The best advice i can give to you is to copy and paste what he wrote above, put it on a word document, print out a few copeps of it, and then stick them all round your house! :) :p
     
    #28     Sep 24, 2008