Beleifs about Trading

[ranj]

Adamned,

Enhancing Trader Performance: Proven Strategies From the Cutting Edge of Trading Psychology

Helped me figure out who I was and what types of trading style best fit me. Since doing that self analysis trading has become easier.

Good Luck
Rajiv

[walterw]

	Quote:	OAC
	Walter, what do you mean by "superbclean timingtools" exactly ? Adamnet said that he is like a cheetah, isn't that good enough ?

there is a set of tools that help to time your trades with less noise and at the same time leading... not suitable for everybody... but helps left brained people like me.. cheers Walter.

[Jakew]

Who says Michael Douglas lesson doesn't apply to any style and timeframe...

Scalping is for scalpers. You need to love it. Otherwise it will wear you out. Finding one's timeframe - plus what Walter said - is the key factor.

J.Carter said everybody below 10 years experience is a... - I don't remember the word something like a novice anyway - in this game and I can say you can't really state your problem yet. Good luck.

[Reaver]

	Quote:	Jakew
	Who says Michael Douglas lesson doesn't apply to any style and timeframe... Scalping is for scalpers. You need to love it. Otherwise it will wear you out. Finding one's timeframe - plus what Walter said - is the key factor. J.Carter said everybody below 10 years experience is a... - I don't remember the word something like a novice anyway - in this game and I can say you can't really state your problem yet. Good luck.

If you have 10 years to be novice at scalping...then you just have too much money..plain and simple...

[Reaver]

	Quote:	walterw
	there is a set of tools that help to time your trades with less noise and at the same time leading... not suitable for everybody... but helps left brained people like me.. cheers Walter.

I agree, the VMA info is excellent.....

[Jakew]

	Quote:	Reaver
	If you have 10 years to be novice at scalping...then you just have too much money..plain and simple...

Reaver, belive me not every trader is as lucky as you to start and end the search for his timeframe in the proper timeframe, e.g. the scalping one)

[Reaver]

LOL no man I didn't mean it like that. ha ha

I just meant that from my understanding scalping the wrong way is a quick way to lose tons of money...then having enough capital to learn that method for 10 years, means you're filthy rich!

ha ha

I'm definitely not lucky, I am still learning my butt off. I am always experimenting with different things and timeframes. Sorry to come off sounding crazy.

[MC]

	Quote:	Jakew
	Who says Michael Douglas lesson doesn't apply to any style and timeframe... Scalping is for scalpers. You need to love it. Otherwise it will wear you out. Finding one's timeframe - plus what Walter said - is the key factor. J.Carter said everybody below 10 years experience is a... - I don't remember the word something like a novice anyway - in this game and I can say you can't really state your problem yet. Good luck.

"Fresh Meat" is what J Carter calls people with below 10 years experience.

[Jakew]

Thank you MCichocki

Reaver you are still missing the point, but no problem.

As far as experience is concerned, I suppose up to 3 years is the begining in trading, not necessarily the scalping technique (when - by the way - most challengers will quit), and above 10 years is the time when you reap really rich rewards. Between 3 and 10 there is - more often than not - the so called consistent profitability.

[Reaver]

	Quote:	mcichocki_
	"Fresh Meat" is what J Carter calls people with below 10 years experience.

John Carter has a few questionable things in his trading background as well......at least from my knowledge.

I do not believe it takes 10 years to be an excellent trader.

It really depends on who you are,

There are some musicians who pick up guitar and within a couple years have a record deal and are famous...look at Kenney Chesney, he didn't start playing until he was in college and shortly after was a world famous musician....other people play their whole lives and are mediocre.

There is no specific time period.

A soldier is made in a few months, yes, it takes a little longer to truly become a meat eater....but I guarantee you, if you stick a greenhorn in Iraq straight out of bootcamp, he will be eating concertina wire and pissing napalm within a few months...or he'll be dead.

An extreme example, but the point is...the speed at which you learn depends on how seriously you take it. There is no final and ultimate mastery or omniscience in the markets....one will always be increasing their knowledge, but the point where one is a bad ass in trading will be reached relatively quickly if you take it serious enough.....ie when you run the risk of dying you generally take something seriously, whereas if it's winning or losing a few bucks, people generally have to force themselves to take it as seriously as possible.

It boils down to discipline. Treat your finances as if it were your life.

A quote that has stuck with me:

"When you relate to things in your life as though your life were at stake, you will experience a sense of certainty, calmness, freedom and peace of mind IN THE FACE OF chaos, no security and no guarantees in life! Life becomes rich."