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lrushing

I Still Don't Get It

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Every once in a while, I’ll be in conversations with people who are talking about something then ask me if I understand what they just said. Sometimes I say yes, sometimes no, and sometimes yes when I actually don’t. If it’s the latter and then they continue, I get totally lost and have to admit that I have to back up and fess up that I didn’t get it. Not only am I a bit embarrassed, but I’m sure the individuals are having second thoughts about my ability to carry on a conversation.

 

There is so much information when it comes to trading, that I don’t think there is any trader out there who knows everything about trading. They may have some expertise in reading gap plays or momentum trading, but have a weakness with setting stop losses. The point is there are no dumb questions when it comes to trading. If you still don’t get it, even after you’ve purchased numerous articles and books on the subject, attended too many seminars to remember, and sat in a gazillion trading rooms, ask again and again until you find someone or something that answers your questions. That’s the only way you are going to ever get it. That’s the only way you are going to move forward.

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When I first (re) started trading a couple of years ago ... I was surpsied at ALL the information compared to my last trading ventures in the mid and late 80's.

 

For me - success only became possible by specializing and learning one market very well... I gave up Forex, Swing Trading and concentrated on developing a winning strategy for the YM/ES.

 

My suggestion for any newbie: conentrate all your resources and learing efforts on one trade market and only 1 ro 2 setups. Once you can trade them consistently - you can add more variety.

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yes, its amazing sometimes I feel like a little child that still is learning to sum... there are things that take a life time to really grasp what is behind it... and even simple things... nice comentary Irushing.

 

 

Rob : yes, one setup, get good at it and make your good bucks... cheers Walter.

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It sometimes helps, helps a lot actually, to pretend you don't know when you think you do. When you think you know something, you're not in the best state to learn anything new about that 'thing'.

 

So assuming you don't know everything about anything is a pretty useful MO in my view. It also builds real humility rather than false humility.

 

You never get to stop starting to learn.

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There is another alternative and that is that it just might not be true or the point that the person is trying to get across is just too vague or poorly defined to start with. I think some traders process market information subconciously and honestly dont know exactly how they are doing it.

 

Cheers.

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There is another alternative and that is that it just might not be true or the point that the person is trying to get across is just too vague or poorly defined to start with. I think some traders process market information subconciously and honestly dont know exactly how they are doing it.

 

Cheers.

 

Correct Blow, thats why you need to learn how your mind process work and try to idntify what you are doing... so you can understand and normalize your mechanism... from my stand point of view it is a great procedure to success...

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Guest BigWallStreet

Agreed, you gotta keep it simple...but that's the complicated part :)

 

Let's face it, all these systems posted on these messageboards are JUNK.

 

You gotta EARN your success in the marketplace, and that could take you YEARS.

 

Or, you can steal ideas from a Wall Street millionaire and make your own money,

 

I chose the latter haha,

 

Took me about 7 years to learn, lots of hard knocks but you can do it,

 

Email me if you want some help, I actually have a heart for newbies and can give you some tips,

 

 

Later >

 

BigWallStreet

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Agreed, you gotta keep it simple...but that's the complicated part :)

 

Let's face it, all these systems posted on these messageboards are JUNK.

 

You gotta EARN your success in the marketplace, and that could take you YEARS.

 

Or, you can steal ideas from a Wall Street millionaire and make your own money,

 

I chose the latter haha,

 

Took me about 7 years to learn, lots of hard knocks but you can do it,

 

Email me if you want some help, I actually have a heart for newbies and can give you some tips,

 

NYCHotshot@gmail.com

 

 

Later >

 

BigWallStreet

 

BigWallStreet,

 

Do us a favor and post your "tips" on the board here for the rest of us to ponder. We've all done the same, and you've now called all of our systems "junk" (thanks by the way...great way to introduce yourself on a new message board). I'd really love to know what you've got up your sleeve. Since you say you "stole" yours, should be public knowledge anyhow. So please, do us a favor and share it, or stop posting this kind of nonsense on these boards.

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Information overload is a reality and you can get lost and confused with it. I found when i started trading it worked against me as i constantly looked to modify what i do based on this article or indicator. Everybody is selling the single method that will make you rich. I know, i bought some of those myself. The light finally went on when i learned to trade the psychology of the tape. I learned to use time and sales to tell me whats really going on. If i see a trend line break in a down market, i'll look at the prints and see all the 1 and 2 lots buying the TLB cause some book told them to. I'll look for for the big lots to come in and fade those and immediatley short myself. what happens is the price pulls back to the trendline, pierces it down, hits all those small lot buyers stops propelling it down more and the downtrend continues. Now that comes with experience and no lagging indicator will show you how to do that. Everything you need to know about whats really going on in the market is on the price chart and reflected in time and sales. Follow the money...... open 2 T&S windows, one showing all prints and one filtered showing >50 lots for the ES. Watch what happens when the 500-1000 lots hit the prints, jump on for the ride, usually good for at least 1 pt on the ES.

 

good luck

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When I first (re) started trading a couple of years ago ... I was surpsied at ALL the information compared to my last trading ventures in the mid and late 80's.

 

For me - success only became possible by specializing and learning one market very well... I gave up Forex, Swing Trading and concentrated on developing a winning strategy for the YM/ES.

 

My suggestion for any newbie: conentrate all your resources and learing efforts on one trade market and only 1 ro 2 setups. Once you can trade them consistently - you can add more variety.

 

great advice to us newbs bakrob. Thats something ive just recently realized after spending 2 years jumping around to different styles and having easily read 100 books, 99.5% being completely useless. I have no question that the hardest thing starting out is simply filtering out all the noise as far as information goes. Its pretty interesting to me that if i go to my local barnes and noble or borders, i dont believe there is a single title of any of the books reviewed on this website.

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