Looking back, what was the most helpful to you as a trader? Some options: - learning from books/seminars/trading rooms, - sim trading, - journaling, - something else? On a personal note, I am currently reading this thread, https://www.elitetrader.com/et/threads/ahg-profitable-strategy-for-struggling-traders.99283/ Thanks for sharing!
Hello and welcome to ET! How it happened so many Russians are coming now here? For me at first, it was to go on a real seminar to listen to real traders and stay with those who already trade, Then coaches. And to meet a real trader, who was already successful, and books, many many books. Many webinars, traders expo, always with filter - only those who did it can give true information and they are rare and few who willing to do so. By the time trading sim with lamps on real - you can really never learn just from a sim. Discipline during the trading, writing done each trade, scanning emotions and reasons of why yes and why no, meditation, some yoga, and wine after trading, sometimes. And to avoid the people who don't believe in trading. And now ET!
Man, you are fast to reply! What parts of ET are most helpful to beginning traders? There are thousands of posts in the ocean. How to navigate?
Choose what topics you are more interested in - you see forums, then you can see all the forums (I paste it for you here below). In the buttom, there is also feedback https://www.elitetrader.com/et/forums/feedback.11/ If you are not sure to go to the Hall of Fame and read it all. Put likes where you like, so other traders will know that you join ET. I am also new here, a little bit more than two months after the nine years of trading. How long do you trade and what? ET NEWS & SPONSOR INFO Announcements Events GENERAL TOPICS Trading Journals Wall St. News Economics Hook Up Classifieds MARKETS Stocks Options ETFs Index Futures Commodity Futures Financial Futures Forex Cryptocurrencies TECHNICAL TOPICS Order Execution Automated Trading Technical Analysis Programming Strategy Development Risk Management Psychology BROKERAGE FIRMS Retail Brokers Prop Firms Forex Brokers TOOLS OF THE TRADE Trading Software Data Sets and Feeds Backup and Security Hardware Educational Resources TRADING FOR A LIVING Professional Trading Taxes and Accounting COMMUNITY LOUNGE Entrepreneurship Chit Chat Politics Religion and Spirituality Health and Fitness Science and Technology Luxury and Lifestyle Music, Movies and Entertainment Sports SITE SUPPORT Feedback
Price Technical Analysis.... the correlation between market price and technical tools. Same today as way back when. Spend your efforts on learning "Price TA". Many ET'ers disparage TA as "doesn't work.. it's BS". Don't believe them. (Just because they don't know how to do it correctly and therefore give it the "poo-poo", doesn't mean they are right.) Not only does Price TA work, it's about the only thing that does.
looking back i can tell you what mistake i made for almost ten years day trading: not trading naked. trading with anything else gave me too many trade ideas most of them losing
learning that impulse moves and correction moves were the building blocks of market structure and learning how to recognise each
Hanging out at a stock brokerage in 1978 till 1pm 5 days a week for several months, learned much from older traders . I learned charting old fashion way, by hand and I kept half of the Dow 30 going even after I bought my first desk computer in 1986-7. I think you learn much more eye to hand then using a mouse. If you take a few years and really learn charting till you are breathing it, you have much better chance of becoming profitable, also concentrate on risk management 2nd and leave entering last. And think about this, most of the huge wealthy people do long term trading, so learn about options, learn to hedge and selling options to make consistent money while waiting for stocks to go up or down by sell short. I hang out usually in Educational Resources. Staying with much older postings, pre 2000. Stay away from indicators for handful of years, youtube will try to lure you and make trading seem very easy and it is easy to open a brokerage account, it very hard to keep the money, think of yourself as bait to pool of sharks, unless you can compete...Good way to know when you getting decent, do a simulated account and triple it 3 separate times, and above all be honest with self and conservative. Many of us have wiped out several times cause we were too eager and lazy in doing enough back testing and learn programming. Ok, I have given my old man advise for the week. lol Welcome to ET and good luck.
Stop listening to others and think for yourself. Invest conservatively, build upon what works and forget the noise / criticism. Majority of the pros have a hard time beating the indexes. Especially when they're selling a service. Sure they may have a some lucky trades, but overall they have a hard time matching the indexes.
Acknowledged that you're a smart, successful options trader... but disagree with you on this. "Certain indicators"..properly understood and used... are valuable assets to trading.