34 replies to this topic

[SemiBizz]

It is more than clear that it is a conversation ender.

[csw2002]

It is more than clear that it is a conversation ender.

I will definitely avoid using that phrase going forward, at least with Americans. Just to be clear, I am by definition a very green newbie in trading and can hardly in a position to be arrogant let alone condescending. If I gave you that impression with that phrase, then it definitely isn't what I mean.

[NAV]

Seminars, Training, Newsletters, Secret indicators

Ain't gonna make you a trader or make you money.

Like Malcom Gladwell says in his book "Outliers", you need 10000 hours of focused work with a goal to achieve anything. When i started in this business as a newbie nearly 18 years ago, i learn't a lot of wrong stuff. Not every newsletter writer were trying to defraud me or anything, but i found out that they had no clue or skills about making money. It was all about forecasting the market or analyzing the state/health of the market. If your goal is to become another newsletter writer, go follow them.

If you don't have a goal, then even 10000 hours will not take you anywhere. If your goal is to make money, then start building simple trading systems, do a lot of backtesting, think in terms of making money, focus on how to minimize risk, riding profits. Don't be ashamed to get stopped out or change your mind on market direction. You can be bullish in the morning and turn bearish by close. Most professional traders routinely take stop loss hits, change their mind quickly and don't give a rats {bleeeep} about bull market, bear market, long term predictions et al. You gotta be psychologically strong. Can you take 8-10 STOP loss hits in a row ? Can you wait patiently until a run is over, rather than jumping in and out even when the market is going in your favor ? Can you cut the noise in the world and take your trades ? ....

[TechMan]

Keep it simple when it comes to trading. There's nothing new under the sun that hasn't been written and re-written.

So true. I found it amazing while reading "Reminiscences of a Stock Operator" how the terminology today is the same as it was back then. It's amazing how powerful simple things like MAs and trendlines are practically all one needs.

For some investors/traders that's all they need.

I look at volume data and, by all means, price much more than I look at charts and indicators throughout the trading session. But, it's just me, a nobody poster sharing his experience on an Internet bulletin board.

[csw2002]

For anyone who stumbles upon this via internet searches If you see the following persons selling you trading related services, you know what to do. Denis Leontyev runs Intermarket Edge (intermarketedge.com) in Chicago as well as coaching service from wisetradechat.com. His supposed risk manager is Shawn PG. His supposed Compliance Manager is Ed Gitlin who also runs Alpha 7 trading in NYC (alpha7trading.com).

Edited by csw2002, 02 August 2015 - 04:21 AM.