what not to learn
|April 29th, 2010, 11:27 PM||#11 (permalink)|
Futures Experience: Intermediate
Platform: ninja, excel
Favorite Futures: YM, equities
Posts: 86 since Jan 2010
Thanks: 6 given, 45 received
It is good thinking but honestly, I think you should just try to learn about everything..I don't really buy you can short cut this process. Its easy to say don't waste time with elliot wave/gan because its nonsense but when your in a drawdown you will start thinking "maybe those guys on bigmike's were full of shit, let me check out elliot wave".
Starting out the trading literature universe seems immense, but with a good year of hard work you will see how repetitive it is. I started trading in 2005 and by early 2008 I don't think outside of quant finance stuff there were any original ideas left to be found but starting out I read everything I could get my hands on..
I would almost go so far as to say the only thing I really learned from this process was the null hypothesis from Evidence Based TA...basically take everything as false until proven to be true to yourself. I spent 8 months on fundy stuff with Aswath Damodaran's Investment Valuation, which I think is as nonsense as Gann, looks like "science" but it wasn't a waste of time mental development wise.
You can't have the confidence though to take our word for it, that in and of itself would be a mistake IMO. That would be shutting off the creative and exploratory part of your brain for this game.
Just asking this question you are probably ahead of 90% of newbs, but make sure to treat this post as complete bullshit until you have proven it to yourself to be true.