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Question for you guys: What do you need advice on the most?

  • Post #1
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  • First Post: Aug 24, 2013 5:12pm Aug 24, 2013 5:12pm
Hey there guys I am putting together an article based e-book about trading to help out new traders and I have written down every idea I could think of that would help a rookie.

But Then I got to thinking.

You know who the best people to ask about this? Probably a bunch of people that are going through there first few steps of trading. I have noticed when I talk to someone that knows way to much about a given topic they tend to get nebulous and abstract, and don't quite answer questions. I have even caught myself doing this.

"Mechanical trading methods are like trying to tell a robot to deal with your angry girlfriend" I actually said that to someone last week. As valid as that piece of data is it just does not make any sense unless you have some other basic ideas already in place.

So in my attempts to get basic-basic I come to you to ask you a simple question, just to make sure I have all my bases covered.

What is the one thing you would ask an experienced trader for advice on, if you could?

Thank you much.
I would ask an expert trader about advice with using a trailing stop - which type to use with which strategies and how to determine TS size properly.
Quoting Lowtech
What is the one thing you would ask an experienced trader for advice on, if you could?
//-----

my question would be directed only at the expert trend trader and/or expert swing trader......

the question would be......

what method are you using to determine the trend?....

and hopefully he would notice my sincerity and allow a second question......h
to trade and code, keep both simple... no call to impress....h
The most frequently and most asked question, that is regarding the proper money management with in detailed explanation would be my concern.
Quoting enivid
I would ask an expert trader about advice with using a trailing stop - which type to use with which strategies and how to determine TS size properly.
That is a really good question, I did not even think about adding those in because I just never use them.

I do not think I am going to add an article about trailing stops because most of the articles are advice that work across the whole board whereas a trailing stop falls more into a system type area.

Anyway here are my two cents on trailing stops.
You can use them, I have even seen a few people be successful with them. I've even used them, just not with any real good results. You see, the market is in a constant Up and Down and so putting a trailing stop in will really only be effective if a few things are just taken to be true. First of which you need to know that a trailing stop will never get you the best take profit results as it is more of a safeguard then anything and second, A trailing stop will all be effective if you use a very large one (these will scale up with time frame) due to the up and down of the market.

Another interesting thing to note about the trailing stop is that you should only use them if you are fairly certain the market is going in a certain direction, and if you already are fairly certain of that, why even bother with them at all? Why not just take the best take profit you can get?
Quoting Greeneyez
The most frequently and most asked question, that is regarding the proper money management with in detailed explanation would be my concern.
Yea that is a big one and I definitely have it covered.
Thanks much
Quoting hayseed
{quote} //----- my question would be directed only at the expert trend trader and/or expert swing trader...... the question would be...... what method are you using to determine the trend?.... and hopefully he would notice my sincerity and allow a second question......h
That is a solid question to as well, and it took me quite a long time to grapple with the truth of it. The truth of the matter is that there is hardly ever any real solid way to determine the trend, you tell me it is up on the H4 I can go into the 15m and show you it's down. The market does what it wants and you just have to jump on and work with it till the results are favorable or you things have gone so south that you close out the trade. The trick is just knowing what might be the best time to hop in.

Thanks
  • Post #8
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  • Edited 1:39pm Aug 25, 2013 1:11pm | Edited 1:39pm
Quoting Lowtech
Hey there guys I am putting together an article based e-book about trading to help out new traders and I have written down every idea I could think of that would help a rookie. But Then I got to thinking. You know who the best people to ask about this? Probably a bunch of people that are going through there first few steps of trading. I have noticed when I talk to someone that knows way to much about a given topic they tend to get nebulous and abstract, and don't quite answer questions. I have even caught myself doing this. "Mechanical trading...
we do not need any more books written for traders, especially books written by people that dont know what time it is.

we already have bird watching in lion country and then we also have the muppet warz.

i read your half dozen posts and it is obvious that you should be reading trading books instead of trying to write one.

the forexfactory(and other traidng forums) are not running short of trading teachers and gurus.

the only thing that traders lack is the ability to produce profit.

you are selling fools gold.

zero/.
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contact zero 510-684-1114
Quoting Lowtech
Hey there guys I am putting together an article based e-book about trading to help out new traders...
Not sure what gave you the impression that there is a gap in the over-saturated, generic-advice-for-newbies market, but good luck.

Quoting enivid
I would ask an expert trader about advice with using a trailing stop - which type to use with which strategies and how to determine TS size properly.
Only you can answer that question. You presumably have some sort of record of all your trades. Assuming you are consistent in the way you trade, figure out what type of trade management would have worked best over a large number of trades.
Quoting slam.dunk
{quote} we do not need any more books written for traders, especially books written by people that dont know what time it is. we already have bird watching in lion country and then we also have the muppet warz. i read your half dozen posts and it is obvious that you should be reading trading books instead of trying to write one. the forexfactory(and other traidng forums) are not running short of trading teachers and gurus. the only thing that traders lack is the ability to produce profit. you are selling fools gold. zero/. . . {image}
My other posts are fairly old, we all needed to start somewhere. And I do agree, we really don't need another guru, I don't even like the word guru.I can not vouch for bird watching or Muppet as I have never really looked into them, I do however know that most books tend to teach a system, and a system is really one of the last things a new trader needs, I am putting something together that would of been exactly what I needed when I started.

I am not forcing anyone to buy this, you included Slam.
Quoting eurotrash
{quote} Not sure what gave you the impression that there is a gap in the over-saturated, generic-advice-for-newbies market, but good luck. {quote} Only you can answer that question. You presumably have some sort of record of all your trades. Assuming you are consistent in the way you trade, figure out what type of trade management would have worked best over a large number of trades.
There was no gap in the cell phone market when the Iphone 5 came out, does not mean it made the market worse. I am sure there is plenty of advice, but not all of it seems workable to me. I could however be very wrong in my thoughts as well I guess, they do however work for me.
slowrider,

plz do not let me stand between you and your new book.

good luck.
contact zero 510-684-1114
  • Post #13
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  • Last Post: Aug 28, 2013 8:19am Aug 28, 2013 8:19am
So the more I write over here the more and more I feel like I am trying to write down second nature which is not easy to do.

I need someone to read over a few of my articles, preferably a Noobie, just to make sure they are actually helpful. I do not need a flood a saturated market with stuff that isn't even needed.

If anyone feels up to it, let me know either here or through PM please.
Thanks
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