Today's Trading Hell

[Nick1984]

Lol yea by his own admission he hasn't really invested too much in reading so I'm not surprised that he doesn't know what short selling is, but its not hard to find out what it is. A quick google search will answer that!

As a law school graduate I'd assume that he must have done commercial and trading law at some point so I thought he'd know what short selling is from that!

I did a couple of law subjects which related to the regulatory environment for business and also for financial product trading & giving advice on financial products and our legislation here in Aus has sections regarding short selling which give clear definitions of it.

As a law graduate you should be pretty bloody good at reading boring crap like legislation so trading literature should be not so bland by comparison. You can only get out what you put in after all!

[TinGull]

	Quote:	brownsfan019
	Great points Tin! Here's my question and I'm sure others are thinking this - for those recommending a mentor, where do you go/start? I personally never really had a personal mentor and I'm sure many would like to know where you went and/or how you found one. There's your obvious vendors out there and who knows where to start there... Just wondering how you guys found a worthwhile mentor - whether paid or not - and if you want to, post contact info here for others to consider.

I've got 3 people who have helped me tremendously, 2 of them help for free, one I pay. Leroy Rushing on these boards is my trading coach that I pay for his time. He's been critical is helping me define my high odds trading opportunities and risk management.

Another is my girlfriend. She's been instrumental in helping me with the emotional aspect of trading. Amazingly cool and collected and really wants to see me succeed at it. She realizes how long it *could* take to get to where I want to be.

The last person whos played a major role is just a fellow trader who cares enough to want to see me succeed. I guess he sees it's possible with me, so that's awesome. We chat pretty much every day during the market hours.

As for finding one and how to go about it...I just used Leroy because he came to these boards offering help. I know James (soultrader) wouldn't allow any loony onto the boards and collaborate with them unless they were top notch, and Leroy certainly is. His prices are certainly fair for the guidance he gives.

[AbeSmith]

Thank you all for the great advice and attention. It has been very helpful. Thank you Dogpile, Paul, dalby, brownsfan019, ItalianSharp, TinGull, cooter, thrunner, james_gsx, and Nick1984, for reading this topic and giving your opinions. And thank you to those who are contacting me privately to offer advice. I have read through all your posts and will come back to this topic and read them again.

Clearly the theme of responses is that I have not invested enough time in reading, researching, and practicing on a simulator and perhaps later starting out with just one contract. You have also clearly identified that I’m being impulsive, impatient, emotional, and not having a trading plan. Caution is what I’m hearing, and what most or all of you have been telling me.

The information that you have provided is excellent and I want to thank you again for it.

Good luck to everyone today. And forever.

[MrPaul]

	Quote:	AbeSmith
	Thank you all for the great advice and attention. It has been very helpful. Thank you Dogpile, Paul, dalby, brownsfan019, ItalianSharp, TinGull, cooter, thrunner, james_gsx, and Nick1984, for reading this topic and giving your opinions. And thank you to those who are contacting me privately to offer advice. I have read through all your posts and will come back to this topic and read them again. Clearly the theme of responses is that I have not invested enough time in reading, researching, and practicing on a simulator and perhaps later starting out with just one contract. You have also clearly identified that I’m being impulsive, impatient, emotional, and not having a trading plan. Caution is what I’m hearing, and what most or all of you have been telling me. The information that you have provided is excellent and I want to thank you again for it. Good luck to everyone today. And forever.

Abe,

Don't forget to check out the library too, I know for a fact the Dallas Libraries are packed with great books on trading and Irving lets you access and check out books without being a resident. I have donated allot of trading books there so I know there are some good ones.

The low barrier for entry in the trading game can be deceiving, Take your time and enjoy the process...

[AbeSmith]

	Quote:	MrPaul
	Abe, Don't forget to check out the library too, I know for a fact the Dallas Libraries are packed with great books on trading and Irving lets you access and check out books without being a resident. I have donated allot of trading books there so I know there are some good ones. The low barrier for entry in the trading game can be deceiving, Take your time and enjoy the process...

Thanks Paul. The library is a great place. Maybe they have wireless internet too, for free.

[MrPaul]

	Quote:	AbeSmith
	Thanks Paul. The library is a great place. Maybe they have wireless internet too, for free.

I know Irving does, If you want any advice on good books there PM me anytime I've literally read the entire finance section less the personal finance and economic books, well over 100 at least!


P.S I forgot to ask you earlier, but what is the main reason you decided to start speculating? Other than the obvious profit *potential*

[james_gsx]

Is anyone as bored as I am right now? I've never seen the tape move so slow.

[AbeSmith]

	Quote:	MrPaul
	I know Irving does, If you want any advice on good books there PM me anytime I've literally read the entire finance section less the personal finance and economic books, well over 100 at least! P.S I forgot to ask you earlier, but what is the main reason you decided to start speculating? Other than the obvious profit *potential*

	Quote:	MrPaul
	I know Irving does, If you want any advice on good books there PM me anytime I've literally read the entire finance section less the personal finance and economic books, well over 100 at least! P.S I forgot to ask you earlier, but what is the main reason you decided to start speculating? Other than the obvious profit *potential*

Hey Paul. I went to the Garland Central Library since I'm not a city of Dallas resident. Their selection was not impressive. Here is what they have for day trading:

http://ipac.nmls.lib.tx.us:8080/ipac...c_search#focus

The books I got are:

The Guts & Glory of Day Trading by Mark Ingebretsen

The Day Trader's Survival Guide by Christopher A. Farrell

How the Stock Market Works 3rd ed. by John M. Dalton

To answer your question of the main reason I decided to start speculating, I can tell you that some advantages of trading are:

1. Freedom to work flexible hours from the comfort of home.
2. Freedom to move from place to place without turning in a 2 week notice or vacation request.
3. Freedom from constant interaction with the same people day after day, the typical 9-5 job.

[MrPaul]

	Quote:	AbeSmith
	Hey Paul. I went to the Garland Central Library since I'm not a city of Dallas resident. Their selection was not impressive. Here is what they have for day trading: http://ipac.nmls.lib.tx.us:8080/ipac...c_search#focus The books I got are: The Guts & Glory of Day Trading by Mark Ingebretsen The Day Trader's Survival Guide by Christopher A. Farrell How the Stock Market Works 3rd ed. by John M. Dalton To answer your question of the main reason I decided to start speculating, I can tell you that some advantages of trading are: 1. Freedom to work flexible hours from the comfort of home. 2. Freedom to move from place to place without turning in a 2 week notice or vacation request. 3. Freedom from constant interaction with the same people day after day, the typical 9-5 job.

Hey Abe,

My opinion on those three books are as follows:


The Guts & Glory of Day Trading-Misleading and dated

The Day Trader's Survival Guide-Not worth your time.

How the Stock Market Works-Good primer on basic aspects of markets

Hope that helps

[AbeSmith]

	Quote:	MrPaul
	Hey Abe, My opinion on those three books are as follows: The Guts & Glory of Day Trading-Misleading and dated The Day Trader's Survival Guide-Not worth your time. How the Stock Market Works-Good primer on basic aspects of markets Hope that helps

Thanks Paul. You have sure read alot of book.