TEN-THOUSAND IN EDUCATION, FINALLY PAYING OFF | Trading Reviews and Vendors


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TEN-THOUSAND IN EDUCATION, FINALLY PAYING OFF

  #163 (permalink)

new york
 
Trading Experience: Intermediate
Platform: ninjatrader
Broker/Data: mb trading
Favorite Futures: 6e
 
bobbyacim's Avatar
 
Posts: 184 since Feb 2010


monpere View Post
There has been 17 people in the last 5 post that have said "Work on Yourself". I guess that means, go to the gym 3 times a week, hire a personal trainer, buy some Tony Robbins tapes, eat more fiber, drink 8 glasses of water a day, and don't have unprotected sex. If that is not what these guys mean, then maybe they can elaborate.

You don't need inspiration right now. Inspiration + $1.25 will buy you a nice cup of coffe. Here are some tangible suggestions. I think you need 2 things:

1. Find a method you have confidence in.
2. Trade it with risk capital.

You achieve the 1st one by verifying the method works historically. It seems your history has been to buy a system, get excited, throw real money in the market with that system based on the vendor's word that the system works. You need to look historically for yourself to verify that the vendor was telling you the truth. Once you have verified that, then trade it sim for a while to internalize that method. This is the process that will bring you the proper 'confidence' in the method, rather then trusting the advertising hype.

The 2nd point may be the difficult part. Trade with risk capital. If you are trading scared money, you will have a hard time succeeding, because that is the number one psychological barrier a trader can face, making trading decisions based on fear of losing any money that will adversely affect your life. It is not all lost though, because if you have achieved point #1, confidence in your system, then point #2 becomes less of an issue, as you will have less of the 'fear' psychological barrier.

WOW!! Monpere, I don't think anyone can say it better- Thank you for getiing to the crux of the issue with laser precision.

Too bad this setup I have returned to can not be backtested automatically, cause as you have explained; if it can not be coded, it can not be auto backtested. I did take about 200 Sim trades with it a while back with good results.

From what your telling me, lots of Vendors who's system is mechanical with a dash of subjectivity have the perfect "out" for not giving you your money back. Cause if it can't be auto backtested, then they can say that "you are the problem not the system"

You know, Traders international, R. felton, etc all have systems that are almost all mechananical, but with a sprinkle of subjectivity, thats whey they can not just give you a manual, they have to show you the NUANCE of the system(subjective)

So when it does not work, the problem is you!! OUCH....





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