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Old 01-14-2008, 10:12 PM
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Re: Hello wonderful traders...

Hi Eva,

Welcome to the forums and glad to have you on board. On your journey to being a full-time trader, you will encounter alot of noise that can prolong your step to a successful trader. For me, these distractions came in the form of technical indicators. My advice is to take the time necessary to educate yourself whether it be 2-4 years. Study price action and the teachings of those who preach it. Study Wyckoff, Jesse Livermore, Humphrey Neill, William Peter Hamilton, James Dalton, and Steidlmayer. Find your timeframe, style, and methodology. Become an expert in that methodology and specialize in certain markets. Its the 10/90 rule in which 10% of all traders make 90% of the money. So specializing always helps.

Make sure you read Reminisce of a Stock Operator. Then reread it. Always be open to new ideas and flexible with your methodology that you develop. There are so many ways to profit from the markets... so never become stuck in a losing methodology. Adapt and adjust.

You will meet alot of helpful traders here so always feel free to ask questions. Feedback in trading is extremely important. Once you figure out why you are losing, you will understand what not to do. Good luck!

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