Only two things are infinite, the universe and human stupidity, and I'm not sure about the former. Author: John Dryden
Let us not lead the poor people into the poor house. A certain type of mentality, or how one thinks, is required in order to be able to trade and accept losses for what they are. It is very obvious that if one is just a good loser, that will not make one a successful trader, for all that it really means is that the tap will drip for a bit longer before the water stops running. Once the foundation is in place, time is then of the utmost importance, or to be more specific, what one does with one's time! If one wastes ones time speaking with experts and gurus, and decides to try every TA combination under the sun, then that may well be the worst decision that one ever made in ones life. On the other hand, if one could understand that there are but a limited number of ways to read the market correctly, then it becomes a totally different ball game altogether! Fools are seen for what they really are, and those that actually know a bit about these limited ways stand out like a sore thumb, but they seldom surface and post words of wisdom for the general public to digest, why, because as RN rightly said, they know that it will just fall of deaf ears! Here is a very simple question. How does one know the difference between the ones I just spoke of - how can you tell the one who is seriously trying to learn from the usual idiot who thinks he is smart, but really is just a thick dumb ass trader?
No need to apologize at all PL, as you are as much right as everyone else here. Even though I don't like mentors per say, as long as one posts information that others might find useful, then in my eyes that is all that really matters, if one want's to take money from fools that will hand it to them, then I say good luck to them, for everyone gets exactly what they deserve.
At first I look, but naught I see And wonder what, is wrong with me For he said that, it is like so And he must know, his count not low If tweak I some, and tweak I more Then I must find, what makes me score So much to try, and much to hold I'll need a pot, for all that gold Some time has pass, short still the grass What can it be, for it's not me I must be blind, for not to see And sure I am, good buzzie bee What next I do, to find the clue Do more without, or self give clout Might it be so, and some do know His words were small, but look they tall Now I must say, here and today STOP I will, take time to chill I need to look, not like a book But mirror show, what I must know
The buzzie bee (trader) goes from flower to flower (trade to trade) taking a little nectar from each flower (taking a little cash from each trade). Mirror show what I must know (look at the chart in reverse). Just a guess.
only a fool will jump off the cliff and belive he will not get hurt! look around, or this site, people first thought they will get rich through trading in short period of time, but end up years and years they are still struggling, blew up one account and another one and on and on! some people even quited their jobs and joined the day trading group, they found they are trapped by their own illusion, they could not get rich quickly, the learning curve for average people is 5~10years and the learning fee is higher than your imagination, still lots of people can not graduate from this market school even lifetime! trading is not easy. that is the fact. if you want to succeed in this business, you must fight against your own ego (think naively you are smart, think naivly you can do any thing you want...), your fear, your greed, your desire to be successful.... the common human being's weakness. I believe a machine will do better job in this bussiness than a real human being. can you train a normal person into a machine or a robert? it is hard! hard very hard! when a person feels bullish, he will see any uptick as buy signal even in a dropping market! or vice versa! that is human nature, you could not fight with it!
this is all it is these days the damn BOTS and biggest firms do this all day long and all week long nonsense I tell you ... it is all nonsense http://cdn-images.hollywood.com/cms/300x375/5345053.jpg
You can learn how to trade sooner than that if you fully commit and you are psychologically built for it. when a person feels bullish, he will see any uptick as buy signal even in a dropping market! or vice versa! that is human nature, you could not fight with it! This above quote is a true statement for people that don't make a living as traders. For people that make a living as traders, not to say that we're infallible (we certainly are not) but rarely do we impose our bias upon price action. Is it difficult at times to see price action objectively all the time? Absolutely. Is it possible to sustain a career imposing your will on price action? Nope.
Not exactly the truth. They have one main advantage over most who invest for the longer time frame, and they use that advantage to make money in a very short time period. It really is that simple, if you but accept the facts as they are.