Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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I'm starting part way through the thread and I'm not sure it the OP is serious or just fishing for a thread, but others may be reading , I'm sure there are many who are just starting out and don't want to be told the odds of success (as if we knew them -- Hah hah).
Forex made Easy by Raghee Horner
- I've read it (but I don't trade Forex) and it is a simple book of method not theory.
Sniper trading by George Angell (sp?)
- this is a dated book but he outlines others approaches - it is geared to the ES.
What I read and really recommend is old school and probably not for the OP but I like WD Gann writings.
As aside from books - practice reading a chart looking at trendlines and support and resistance. Try saying it will go up/down to here and then reverse/push through. Trade an ETF - assuming this is a hobby - until you are successful and always have a stop and target before the trade (and why according to the your reading of the chart).
may the force be with you...
--- burnt two pieces of toast doing this --- I hope you/someone else gets value ....
Good trading to everyone.
The following 2 users say Thank You to aquarian1 for this post:
I am not sure what the specific reasons this "good friend" of yours has for thinking your, support of freshman traders is a "waste". I am sincerely grateful for your advice. I and am seriously considering it. I will even watch that movie about the Panda.
No I don't expect everything to be handed to me:
for the past six months I have been sitting in front of the screen every day, with extensive trading journals, and extensive manualbacktesting on excel (as I have already noted), and I come here to BM eager to learn and improve.
Thank You for everything, and thanks to those posters who really tried to support me (you know who you are.)
The following user says Thank You to budfox for this post:
This is also your first post where you showed even the slightest bit of gratitude or humility.....those characters go a long way toward getting help here on futures.io (formerly BMT) and more importantly, they go a long way toward your learning to trade journey.
You can make a lot of money with ACD.....but its not the holy grail. If you internalize the concepts of ACD and marry them with the concepts in KungFu Panda, you will be well on your way toward being a succesful independent trader.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
I would listen to Brian aka @PandaWarrior - improvement is GUARANTEED.
Actually I already listened to him and watched "Kung Fu Panda" (2008) again.
Amazingly it is a TRADING movie though the word trading is never mentioned.
Here are some lines that linger:
“The mind is like this water, my friend. When it is agitated, it becomes difficult to see. But if you allow it to settle, the answer becomes clear.”
“One often meets his destiny on the road he takes to avoid it.”
“Yesterday is history, tomorrow is a mystery, but today is a gift. That is why it is called the present.”
Actually the full dialogue is relevant when on the verge of quitting trading:
Po: Maybe I should just quit and go back to making noodles.
In reply: Quit, don't quit? Noodles, don't noodles? You are too concerned about what
was and what will be. There is a saying: yesterday is history, tomorrow is a mystery, but today
is a gift. That is why it is called the "present."
Master Oogway tells teacher Shifu that he must let go of the illusion of control and instead nurture and believe in Po's abilities in order for him to defeat the evil Tai Lung,
Oogway: Look at this tree, Shifu, I cannot make it blossom when it suits me nor make it bear fruit before its time.
Shifu: But there are things we *can* control: I can control when the fruit will fall, I can control
where to plant the seed: that is no illusion, Master!
Oogway: Ah, yes. But no matter what you do, that seed will grow to be a peach tree. You may wish for an apple or an orange, but you will get a peach.
Mr. Ping (daddy): The secret ingredient is... nothing!
Mr. Ping: You heard me. Nothing! There is no secret ingredient.
Po: Wait, wait... it's just plain old noodle soup? You don't add some kind of special sauce or
Mr. Ping: Don't have to. To make something special you just have to believe it's special.
[Po looks at the scroll again, and sees his reflection in it]
Po: There is no secret ingredient...
Tai Lung: Finally... oh, yes... at last, the power of the Dragon Scroll shall be mine!
[He opens the scroll - and stares at it - its BLANK!!!!]
Tai Lung: It's... it's nothing!
Po: It's okay. I didn't get it the first time either.
Tai Lung: What?
Po: There is no secret ingredient. It's just you.
Once you get THAT so many doors open, the angels in the sky start showering flowers upon your trading, and you never are the same trader again!
The following user says Thank You to iqgod for this post: