Thank you for sharing your situation and experience. I see posts similar to this on a regular basis.
Trading is a (serious) profession so the question is "How do people learn other professions?". For example a pilot or a surgeon. Do you think they join on line communities and read other people's comments? Well they might as part of or after taking serious education and trading. How would like you to go on a jet where the pilot has sim flown and read free information? Same for surgery?
Please, everyone, do not get me wrong. Mike's Trading Forum is great for sharing of (specific) ideas, however it is no substitute for (formal) education and training.
Now, here is the real problem. Where do you get 'real' training? Unlike pilots and doctors, I have not found any similar training institutions. There are dozens that are the equivalent of "Learn to fly in one week or even one month". There are none that take you through the disciplined equivalent of colleges or universities.
So now that I have been so negative, but I hope realistic, the question is "How do you become a successful trader?". There are dozens/hundreds of books which will answer that question (some of which I suggest you read) but remember that reading a book on how to ride a bike will not make you a good bike rider, but hopefully it will make it less painful. Learning to trade is hard but if you don't know how you are going to learn it will be even harder and potentially fatal.
I am not yet a successful trader and I read these posts and write responses once in a while to help me. If it helps others that's a bonus. What I got out of my own post this time is in the paragraph above "How are you going to learn?".
I hope to start to answer that question in another post.
The following user says Thank You to gcaldridge for this post:
First off, I want to thank Mike for a great job of moderating my webinar yesterday. I'm new to the community and look forward to participating. In a nutshell, my approach to trading psychology is to identify what I do right in markets and turn those strengths into best practices and ultimately into replicable, robust best processes. My approach to trading is a hybrid of quantitative and discretionary decision making, with most trades on the day timeframe. I've traded since the late 1970s and the one thing I've learned is that I'm always learning. I look forward to sharing with the community, as both teacher and student.
The following 12 users say Thank You to steenbab for this post: