How to Be a Good Trader?

[smwinc]

I think it's best to take a top down approach.

1) get some charting software & a good trading simulator. E.g. Ensign & Bracket Trader plugin. Low costs. Total costs = 49.95/month.

2) Just study and watch the market. Write down the things you don't understand & lose money from, and research them.

I've seen plenty of new traders come into the office, given a 2 week "101 of what markets are", and then just study price action on the sim, before making money.

We buy software/books because we underestimate our own ability to figure it out.

[james_gsx]

	Quote:	smwinc
	I think it's best to take a top down approach. 1) get some charting software & a good trading simulator. E.g. Ensign & Bracket Trader plugin. Low costs. Total costs = 49.95/month. 2) Just study and watch the market. Write down the things you don't understand & lose money from, and research them. I've seen plenty of new traders come into the office, given a 2 week "101 of what markets are", and then just study price action on the sim, before making money. We buy software/books because we underestimate our own ability to figure it out.

Best post ever on TL

[Hlm]

Yep, too often we look for everyone else's solution instead of creating our own. (Thanks smwinc)

[smwinc]

	Quote:	Hlm
	Yep, too often we look for everyone else's solution instead of creating our own.

wow - clearly someone smart, attractive, popular, sophisticated & good with ladies thought of that sentence!

[Hlm]

	Quote:	smwinc
	wow - clearly someone smart, attractive, popular, sophisticated & good with ladies thought of that sentence!

Hey now, half of that is my own words. So...I will take smart and sophisticated. You can have popular and good with the ladies since I already have an awesome wife. I guess we can share attractive.