[bigchido]

Hey guys, I'm a rookie trader and I need all the advice and guidance I can get. Thanks

[mitsubishi]

Originally Posted by bigchido »

Hey guys, I'm a rookie trader and I need all the advice and guidance I can get. Thanks

And how will you know if the advice and guidance is worth anything? Are you planning to fail before you even started?
Now if you had said something like "hey guys,, i'm looking for inspiration..some food for thought".... you see the difference there?
Do you realise,right there,that i have potentially saved you several wasted years? You can't appreciate that right now,but trust me,that suggestion is worth precious years of your life.
So what do you reckon several years worth of advice should cost you?

I reckon the advice plus your initial trading losses is worth about $50k
How would you like to pay cash?.. cheque?......wanna pay in installments?

How about i show you my holy grail trading system and you start paying me out of your profits as you go along?
'Course, i'd have to hold a shot gun to your head to get you to stay in the trade till it hit the target. Would you be comfortable with that.or would you prefer to sweat it out on your own after 3 years of careful study?

Are you sure trading is for you? I mean how much d'ya want it?..bearing in mind that it doesn't make any difference cos the market doesn't give a damn about you.

How are you gonna get to the answers if you don't know even what the questions are?

How you respond....well...it could determine your fate

[steve46]

If you are capable of critical thought and you take the time to obtain a good general education as regards the markets, there is information in the threads that could help you...I would suggest you take the time to read, and stay away from the forum and posting for a while...Just one man's opinion.

If you have time, I would also use the Internet to hit the exchanges (NYSE, CME, CBOE....etc) each of them has an educational section that can be helpful to you..

Stay away from vendor offers and other service providers until you have some background on which to judge...

Develop a reading list and hit your library (or Amazon)....it can be done provided you take time and stay away from live trading until you have a solid sense of what you want to accomplish.

Good Luck
Steve

[mitsubishi]

Originally Posted by steve46 »

If you are capable of critical thought and you take the time to obtain a good general education as regards the markets, there is information in the threads that could help you...I would suggest you take the time to read, and stay away from the forum and posting for a while...Just one man's opinion.

If you have time, I would also use the Internet to hit the exchanges (NYSE, CME, CBOE....etc) each of them has an educational section that can be helpful to you..

Stay away from vendor offers and other service providers until you have some background on which to judge...

Develop a reading list and hit your library (or Amazon)....it can be done provided you take time and stay away from live trading until you have a solid sense of what you want to accomplish.

Good Luck
Steve

This is probably one of the best piece of advice you will get anywhere.

[bobcollett]

Originally Posted by bigchido »

Hey guys, I'm a rookie trader and I need all the advice and guidance I can get. Thanks

Hi bigchido
How did you learn to drive a car?
Did you read CAR magazine or did you watch over somebodies shoulder.?
Or did you read a 100 books on the different ways of driving?
Or did you go to the Car driving forum?
OR DID SOMEBODY GIVE YOU SOME GUIDANCE?
Find yourself a mentor.
Kind regards
bobc

[MightyMouse]

Originally Posted by bobcollett »

Hi bigchido
How did you learn to drive a car?
Did you read CAR magazine or did you watch over somebodies shoulder.?
Or did you read a 100 books on the different ways of driving?
Or did you go to the Car driving forum?
OR DID SOMEBODY GIVE YOU SOME GUIDANCE?
Find yourself a mentor.
Kind regards
bobc

That is a very bad comparison.

A task like driving can be broken down into many different steps and you can then measure progress in each step. That is why virtually every teen can learn to drive eventually.

In trading most do not have the luxury of being able to break it down into a set of measurable steps with which we can measure progress That is why virtually no one learns to trade.

The fact is that one truly does not understand the amount of risk we took on when we learned to drive. Rates for teen drivers are significantly higher than for adult drivers for a reason.

[ratmpower]

As I always say, trading is as much of an art as it is a science. The more practice you get, the better you become at trading. Once you are confident that you can profit, jump in to a real market.

[henryduncan12]

Originally Posted by ratmpower »

As I always say, trading is as much of an art as it is a science. The more practice you get, the better you become at trading. Once you are confident that you can profit, jump in to a real market.

Hi ratmpower, I am agree with you. More and more practice makes us an experienced trader and it reduces chance of losing money in forex trading.