sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
Most choppy pairs? Least likely to trend? 9 replies
When is the EURUSD most likely range bound? 2 replies
The ECB will likely ...Cut or Hike? 1 reply
will EFX/MB trading likely to refund the money? 6 replies
If more and more people long, is it likely moving up? 11 replies
Quoting diallistDislikedJIM! Welcome back dude! It's only been a week since your last post, but man it felt like forever! Hope you had a great Holiday old buddy!
DialIgnored
Quoting narafaDislikedMan, read Market Wizards and the new Market Wizards. 90% of the top traders interviewed in this book got smashed and hammered by the market in the beginning of their trading career before they became what they were. Those top traders lost an average of 70-90% of their primary trading capital at the beginning of their trading career. Some of them even lost 100% of borrowed money and had to work for more than 2 years to re-pay the lost loans before getting back to trading with their own money.
Thanks,
NaderIgnored
Quoting DrRockDislikedI have read both books and I think they are great.
One of the things about most of the traders in those books is that they started in the 70s/80s and they were largely self taught. Someone want to learn to trade today can take a course that will teach them how to not blow up their account. The mistakes that people make to blow up their accounts are well documents (in books like the Wizards) so all you need to do is learn from other peoples mistakes and not blow yourself up!
What about the turtles? Did those guys lose all their money before they were successful? No.
I don't believe that you have to have a whole bunch of market scars before you are allowed to make good money. If you put good risk management in place, implement stops and have sensible positionsizing and evaluate what you are doing when things are going right then I don't see why you would blow up.
SimonIgnored
Quoting diallistDislikedDrRock,
But I still respectfully disagree that it is possible for the majority to learn to trade without ever being kicked by the market. For me, it was being kicked by the market that reinforced what I had read. (Oh! THAT'S what the author warned me about!) If the market was my only teacher, I'd have been out of trading long before now.
Thanks for your post.
DialIgnored
Quoting DrRockDislikedI have read both books and I think they are great.
One of the things about most of the traders in those books is that they started in the 70s/80s and they were largely self taught. Someone want to learn to trade today can take a course that will teach them how to not blow up their account. The mistakes that people make to blow up their accounts are well documents (in books like the Wizards) so all you need to do is learn from other peoples mistakes and not blow yourself up!
What about the turtles? Did those guys lose all their money before they were successful? No.
I don't believe that you have to have a whole bunch of market scars before you are allowed to make good money. If you put good risk management in place, implement stops and have sensible positionsizing and evaluate what you are doing when things are going right then I don't see why you would blow up.
SimonIgnored