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Hey Itchy,
Sorry if I indicated that I have seen charts & all the good stuff on Yahoo...I'm a newbie, so just getting my feet wet.
Tried analyzing some data on using historical values of S&P500:
Not able to post links as have only 3 posts till now...
hence removed the http:
finance.yahoo.com/q/hp?s=^GSPC+Historical+Prices
That is about it. And then the question was, how authentic that data is & does it match what the feed that the broker/platform will provide.
Rgds.
I don't think anyone can look at trading for extra money until they truly feel confident playing the market. What I am saying is that most majority use their own beliefs when using their methods win against everybody. Who really knows that a strategy is above bounds and infinite in winning at all times. I mean we're talking about a market that changes every time, so how to stay patience and keep above water til the right moment always. Until then the Algos have an edge and that is speed and market auction theory, and who else wins none but the one that follow the big $.
However with the caveat that its not as easy as it may first seem to be consistent. The reality is that you can seem like its easy 60-80% of the time and then the small percentage will wipe you out. The real hidden secret is that to make yourself consistent and profitable requires dedication and whilst you can do it part time it requires the sacrifice of real time to train and hone your skills. I've found a lot of 'traders' are looking for a magic bullet to give then a shortcut, and I've learnt there are no shortcuts. Not an indicator, not a mentor in itself will work..that we need to learn it our-selves if we're serious about it. Otherwise I'd just call it probabilistic at best and gambling at honest worst.
indeed. it's taken me 8 years to get to this point, since i left the floor, and it will take me another 8 years, to get get where i am going to be, 8 years from now. the point being; the acquisition of knowledge and skills, as it pertains to trading, is dynamic. it's naive to believe that tomorrow's markets will be driven by the same forces that drive today's markets. markets are evolving more rapidly than ever, and if the trader fails to adapt, then he will be left behind.
going in with the plan to read and study for 6 months is extremely intelligent. trading is profitable but i believe you need to treat it like a business in order to be successful. i feel one of the hardest parts is always the concept that people never end up having the time to dedicate a full 9:30-4 to trade because sually that means they have to leave its day job
What I've realized is you can master methods, but if you can't master yourself you're sure to fail. Working to stay in now and being okay with mistakes/being wrong is key in my opinion. I have a lot of work ahead still with learning myself. Studying and learning is great, experience and learning from mistakes is what it takes.
