Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

tradingwolves

I'm New and Somewhat Lost

Recommended Posts

wow!!!! that is a lot. i have started to going through it, it is going to take some time to get through it all... there is apart of me that is more lost than before.

 

Keep it simple and after 10 - 20k hours of screentime you will crack it no problems at all. Practice makes perfect. :)

Share this post


Link to post
Share on other sites
So, I have read through this whole thread. I have to say…

I am currently investigating the course ….

 

It's a pretty hokey layout, but has some incredible advice for the beginner.

 

For starters, it recommends a minimum of 9 months of paper trading. It goes on to say one should learn to hand chart first, before ever trying to paper trade with the computer. …

 

Although the above course is well worth it's pricey cost… I have also found a small e-book…. The third trade strategy especially is worth millions in the right hands alone. It looks like a super simplified Turtle trade to me…

 

Speaking of Turtle trading, I highly recommend the book …

 

An examination of WD Gann's basic stuff is also recommended. There is a Yahoo Groups page set up for the study of his various methods. Search for it….

 

John Bollinger, on Bollinger Bands is also a must read.

 

Start by learning the basics, like how to form trend lines, support and resistance lines, figure replacement levels, and spot the major charting formations…

 

 

Last, and again, don't listen to anyone who tells you to try and learn by actually putting money in the markets. …”

...the industry speaks the industryspeak...

Right out the gate, Noobs always have simple but difficult choices.

Are you going to mire yourself in the herd and it’s ways or are you going to really differentiate yourself.

Are you going with the many or are you going with the few?

(The low quantity of additional 'industry' posts so far is heartening … even on TL it sometimes gets pretty treacherous for noobs..)

 

I have to say the poster who recommends live trading right away, is hoping to be on the other side of the transaction. It's a sure way to get wiped out fast. It's a set up for failure.

 

 

Last, and again, don't listen to anyone who tells you to try and learn by actually putting money in the markets. Losing 100 straight trades is not going to teach you anything, but how to be a loser. Learn to win first, THEN risk real money.

some ppl can't see good 'risk’ management even if it is right there in plain sight...

sneaky wording, but "accommodate" is not the same as "Losing 100 straight trades "

First lines again once again for the slow ones..

Capitalize and (or) De-leverage and (or) PositionSize to the point that your account can accommodate 100 losing trades in a row and it would still be only in a 40% drawdown

This more than ameliorates risk of ruin.... ie Structure your world as if you are already successful. That’s how the the rich get richer. And btw, that’s quite the opposite of “jumping off the roofs of buildings”

Instead, the industry knows its “Ways of the Stoploss” will actually put you together to be too careful too learn to thrive. (and :hell no: this is not saying AT ALL that you shouldn’t use stops! )

And if you’re reading this and thinking "but my beginning account IS too small for that” (which is the prevailing implication so far herein) then you dang tooten I want to be on the other side of your trades… because one of the ways to structure the 'first line' is most likely off to the side or at the top of this page and it begins with an o.

 

re “One really needs to master the mechanics of their system inside and out, in real time simulated trading, before trading for real. Otherwise you have to deal with the learning curve AND all the psychological stuff that comes with trading real money as well.”

 

More from the industry - straight out of the small ‘psychology’ section of a thousand or more trading method teachers’ web sites.

:hello!!!!!!!: All the psychological stuff IS the learning curve. Trading is simple. In the beginning, complicate methods and techniques by going for the ‘intricacies’, etc. at your own risk…

Noobs have another simple beginner's choice –

head off on an other-directed / guided grail search (usually without yet even knowing what the grail is)

OR

watch the markets and watch yourself watching and really participating in the markets and uncover what your primary approach(es) is / are to trading by actually trading. ( btw, where is the grail really found? The High History of the Holy Grail )

THEN, when you know from within the way you want to trade, THEN seek out and learn from others who have compatible orientation and who have mastered a similar approach … and THEN train on sim…

Noobs. the industry is telling you to go to school first, then go to life. I’m telling you go to life first, then go to school. Only if it were a single art or a single science would it be sensible to ‘go to school’ / read / study / take courses first. School and sim will only teach you about right / wrong! It will not really teach you about victory / defeat, or love / loss, and luck / no luck. Only live trading will teach you all four, in the way YOU personally need to learn them! Another simple, but difficult, choice to implement…

 

re “…Kinesiology and sports psychology…” ???

spear, sincerely hope you are the only one in here who completely missed the point (pun spread out in that last trading sentence… ;)

 

Noobs - question the industry!!! One more convenient example of industryspeak: “… It goes on to say one should learn to hand chart first, before ever trying to paper trade with the computer. The author feels hand charting is a learning tool that better etches the material into your brain”

Nothing wrong with that on the surface until we consider charts are only representations of the markets and that “The map is not the thing mapped" and remember what if legacy type time charts are the very last representation of the auctions a particular noob should, by nature, ever ever use? As I said in post 8, explore / flit about the various representations of auctions to find the one(s) most compatible with your own brains and inclinations…

if it is traditional charting THEN drawing by hand has a great chance of helping…

Another simple, but arduous, choice - Noob settles down immediately into the representational system the industry wants OR noob trials the whole range of representations of the auction to find which one really fits him…

 

 

 

 

 

 

 

 

 

 

 

“What’s really important?

What would we want to do if this weren’t an issue?

If we could do it again from scratch, how would we do it differently?”

paraphrasing my ‘thinking’ coach

Edited by zdo

Share this post


Link to post
Share on other sites
so then i should stay with my demo account until i get better and spend more time doing my reading

 

Forget reading IMHO, find a method you like and just keep trying to trade it using strict rules of entry, exit and stoploss until you can do it in your sleep.

 

Train yourself to trade like a machine, no emotions.

Share this post


Link to post
Share on other sites
Don't trade real money, untill you can win consistently in simulation. Anyone who tells you different does not know what they are doing, and does not know how to teach.

the industry speaks the industryspeak

 

 

 

Potential,

consistently

real ~ in the ground, the root system of alfalfa goes down to as far as 12 feet

sim ~ in a sprouter, the root system of alfalfa goes ‘down’ to as far as 1/2 inch … quickly, consistently, and that's the limit

 

fun and funny ( but, be advised, it's bad non – industrial age advice…)

Ken Robinson says schools kill creativity | Video on TED.com

Sir Ken Robinson: Bring on the learning revolution! | Video on TED.com

 

so then i should stay with my demo account until i get better and spend more time doing my reading

yes, you should... do what you should do

Edited by zdo

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date: 11th July 2025.   Demand For Gold Rises As Trump Announces Tariffs!   Gold prices rose significantly throughout the week as investors took advantage of the 2.50% lower entry level. Investors also return to the safe-haven asset as the US trade policy continues to escalate. As a result, investors are taking a more dovish tone. The ‘risk-off’ appetite is also something which can be seen within the stock market. The NASDAQ on Thursday took a 0.90% dive within only 30 minutes.   Trade Tensions Escalate President Trump has been teasing with new tariffs throughout the week. However, the tariffs were confirmed on Thursday. A 35% tariff on Canadian imports starting August 1st, along with 50% tariffs on copper and goods from Brazil. Some experts are advising that Brazil has been specifically targeted due to its association with the BRICS.   However, the President has not directly associated the tariffs with BRICS yet. According to President Trump, Brazil is targeting US technology companies and carrying out a ‘witch hunt’against former Brazilian President Jair Bolsonaro, a close ally who is currently facing prosecution for allegedly attempting to overturn the 2022 Brazilian election.   Although Brazil is one of the largest and fastest-growing economies in the Americas, it is not the main concern for investors. Investors are more concerned about Tariffs on Canada. The White House said it will impose a 35% tariff on Canadian imports, effective August 1st, raised from the earlier 25% rate. This covers most goods, with exceptions under USMCA and exemptions for Canadian companies producing within the US.   It is also vital for investors to note that Canada is among the US;’s top 3 trading partners. The increase was justified by Trump citing issues like the trade deficit, Canada’s handling of fentanyl trafficking, and perceived unfair trade practices.   The President is also threatening new measures against the EU. These moves caused US and European stock futures to fall nearly 1%, while the Dollar rose and commodity prices saw small gains. However, the main benefactor was Silver and Gold, which are the two best-performing metals of the day.   How Will The Fed Impact Gold? The FOMC indicated that the number of members warming up to the idea of interest rate cuts is increasing. If the Fed takes a dovish tone, the price of Gold may further rise. In the meantime, the President pushing for a 3% rate cut sparked talk of a more dovish Fed nominee next year and raised worries about future inflation.   Meanwhile, jobless claims dropped for the fourth straight week, coming in better than expected and supporting the view that the labour market remains strong after last week’s solid payroll report. Markets still expect two rate cuts this year, but rate futures show most investors see no change at the next Fed meeting. Gold is expected to finish the week mostly flat.       Gold 15-Minute Chart     If the price of Gold increases above $3,337.50, buy signals are likely to materialise again. However, the price is currently retracing, meaning traders are likely to wait for regained momentum before entering further buy trades. According to HSBC, they expect an average price of $3,215 in 2025 (up from $3,015) and $3,125 in 2026, with projections showing a volatile range between $3,100 and $3,600   Key Takeaway Points: Gold Rises on Safe-Haven Demand. Gold gained as investors reacted to rising trade tensions and market volatility. Canada Tariffs Spark Concern. A 35% tariff on Canadian imports drew attention due to Canada’s key trade role. Fed Dovish Shift Supports Gold. Growing expectations of rate cuts and Trump’s push for a 3% cut boosted the gold outlook. Gold Eyes Breakout Above $3,337.5. Price is consolidating; a move above $3,337.50 could trigger new buy signals. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Back in the early 2000s, Netflix mailed DVDs to subscribers.   It wasn’t sexy—but it was smart. No late fees. No driving to Blockbuster.   People subscribed because they were lazy. Investors bought the stock because they realized everyone else is lazy too.   Those who saw the future in that red envelope? They could’ve caught a 10,000%+ move.   Another story…   Back in the mid-2000s, Amazon launched Prime.   It wasn’t flashy—but it was fast.   Free two-day shipping. No minimums. No hassle.   People subscribed because they were impatient. Investors bought the stock because they realized everyone hates waiting.   Those who saw the future in that speedy little yellow button? They could’ve caught another 10,000%+ move.   Finally…   Back in 2011, Bitcoin was trading under $10.   It wasn’t regulated—but it worked.   No bank. No middleman. Just wallet to wallet.   People used it to send money. Investors bought it because they saw the potential.   Those who saw something glimmering in that strange orange coin? They could’ve caught a 100,000%+ move.   The people who made those calls weren’t fortune tellers. They just noticed something simple before others did.   A better way. A quiet shift. A small edge. An asymmetric bet.   The red envelope fixed late fees. The yellow button fixed waiting. The orange coin gave billions a choice.   Of course, these types of gains are rare. And they happen only once in a blue moon. That’s exactly why it’s important to notice when the conditions start to look familiar.   Not after the move. Not once it's on CNBC. But in the quiet build-up— before the surface breaks.   Enter the Blue Button Please read more here: https://altucherconfidential.com/posts/netflix-amazon-bitcoin-blue  Profits from free accurate cryptos signals: https://www.predictmag.com/ 
    • What These Attacks Look Like There are several ways you could get hacked. And the threats compound by the day.   Here’s a quick rundown:   Phishing: Fake emails from your “bank.” Click the link, give your password—game over.   Ransomware: Malware that locks your files and demands crypto. Pay up, or it’s gone.   DDoS: Overwhelm a website with traffic until it crashes. Like 10,000 bots blocking the door. Often used by nations.   Man-in-the-Middle: Hackers intercept your messages on public WiFi and read or change them.   Social Engineering: Hackers pose as IT or drop infected USB drives labeled “Payroll.”   You don’t need to be “important” to be a target.   You just need to be online.   What You Can Do (Without Buying a Bunker) You don’t have to be tech-savvy.   You just need to stop being low-hanging fruit.   Here’s how:   Use a YubiKey (physical passkey device) or Authenticator app – Ditch text message 2FA. SIM swaps are real. Hackers often have people on the inside at telecom companies.   Use a password manager (with Yubikey) – One unique password per account. Stop using your dog’s name.   Update your devices – Those annoying updates patch real security holes. Use them.   Back up your files – If ransomware hits, you don’t want your important documents held hostage.   Avoid public WiFi for sensitive stuff – Or use a VPN.   Think before you click – Emails that feel “urgent” are often fake. Go to the websites manually for confirmation.   Consider Starlink in case the internet goes down – I think it’s time for me to make the leap. Don’t Panic. Prepare. (Then Invest.)   I spent an hour in that basement bar reading about cyberattacks—and watching real-world systems fall apart like dominos.   The internet going down used to be an inconvenience. Now, it’s a warning.   Cyberwar isn’t coming. It’s here.   And the next time your internet goes out, it might not just be your router.   Don’t panic. Prepare.   And maybe keep a backup plan in your back pocket. Like a local basement bar with good bourbon—and working WiFi.   As usual, we’re on the lookout for more opportunities in cybersecurity. Stay tuned.   Author: Chris Campbell (AltucherConfidential) Profits from free accurate cryptos signals: https://www.predictmag.com/   
    • DUMBSHELL:  re the automation of corruption ---  200,000 "Science Papers" in academic journal database PubMed may have been AI-generated with errors, hallucinations and false sourcing 
    • Does any crypto exchanges get banned in your country? How's about other as Bybit, Kraken, MEXC, OKX?
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.