{quote} Agree with the last part. yet to see anyone here, or elsewhere actually offering any real education to new traders. Just sales pitches and false hope.
I have stumbled across some.
{quote} first of all, trading can not be taught. second, nobody knows anything. knowledge is just a set of data which is proven to be correct most of the time but not all the time. knowing is an eternal process for search of truth and not the final outcome. nothing that you "know" is absolutely correct. after all this, if there are still people who thinks they "know" something and can teach it, they have delusional disorder.
Mostly agree, trading is generally an abstract concept. Hard to quantify how anyone can consistently navigate all the aspects. However in the purely mechanical sense, trading could be taught better than the standards on offer.
More so by removing the likes of Greg Secker and Jared Martinez as "educators" and mentors. This world is hard enough to navigate without their kind.
I've done quite a bit of work towards putting some educational material together for traders, but there's some roadblocks.
Yes, many roadblocks. But I don't believe the available resources are as good as people say. They're an ok taste, but very few of them go into any depth about the way the market functions in reality, about the relative uselessness of traditional technical analysis strategies, nor about the very real risk when using retail brokers. As you rightly said in an earlier post, the fundamental principles go largely ignored. Everyone can plot a trendline or draw some other meaningless scribbles, but hardly anyone knows about the way the participants in the true interbank market interact.
The problem, as I see it, is that the new trader often loses the will to continue quite early. It's really up to them to get through the early stages and then seek a deeper understanding. A couple posters on this thread are perfect examples of traders who have their own style, styles that go against everything that's traditionally taught...and they trade like this because they understand how it works. That takes a long time.
Agreed. But perhaps if there were not so many false hopes sold early on, prospective traders would not lose interest early.
Most come in expecting there to be some big secret, someone who will eventually come in and say "Here, this is how you do it." Of course it will never be the case. Telling someone new to this that they need to spend a few years learning, practicing, failing and trying again would likely be frowned upon by the huge industry built around Forex!
I have stumbled across some.
If I ever have a moment during my day when I feel like "the stars have aligned" and I "suddenly understand it all" - I turn off the computer because if I don't, I'm going to do something stupid -
Now that is the truth!!
Wealth comes from what you keep, not what you earn
- Joined Sep 2013 | Status: Member | 1,209 Posts
This is due to fundamentals, right.
http://i.imgur.com/K3goCzr.png
If you trade with fundamentals, it sure sounds 'educated'.
Fundamentals, as in the latest economic data
Or,
The big money's reaction to the latest data release
Or,
Both ?
http://i.imgur.com/K3goCzr.png
If you trade with fundamentals, it sure sounds 'educated'.
Fundamentals, as in the latest economic data
Or,
The big money's reaction to the latest data release
Or,
Both ?
- | Membership Revoked | Joined Nov 2015 | 1,524 Posts
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{quote} It may influence the markets, but is it necessary to know in order to trade the markets? I trade the markets successfully without any appreciation for fundamentals. I am sure there are many others that do too.
It's like building a house - yes, you could build it with four walls, some floors and two main columns, and you would have a good house for nice weather. If you have a solid foundation to which everything connects it will be a better house which can survive rougher times.
The more you know the better you understand how reality connects with the market. If you are successful using only technical analysis you could be even more successful if you have an understanding of the fundamentals. By that I don't mean the emotion-inducing macroeconomic numbers on the FF main page
