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where to find the path?
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where to find the path?

  #1 (permalink)
Elite Member
Buenos Aires / Argentina
 
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where to find the path?

I wonder how to start the right way?

I've heard many answers such as .. You have to make your own experience , you have to study hard , you have to attend many webinars , conferences , courses, and you have to build your own strategy does not help the winning system of another trader ... etc, etc, etc, etc. .

Mmm, I do not believe that .. I think the most accurate way is to find a system that works and make it work the right way system , I do not seek the Holy grail but if I seek the Holy Man ... one who knows the way , who can be a guide because he knows these roads .. one profitable trader ...

But .. Where do I find them? Where to find that person and he want to share and teach his trading methodology ? If more than 80 % of traders are losers... And most questions where to turn when you get the same answers and perhaps many of them have failed to be successful ...
Yeah, I know , it's the looking of all newbie.. I have not lost hope .. be profitable is a long way from waste of time, money and energy .. yet few very few of us make it, among the thousands .. after following all the advice ..

I do not know if this post is a reflection or a hope that the Christmas miracle happens ..
Where to turn? where to study? Which trading academy ?


There is a Holy Man here?


Merry Christmas to all!!

Sony108

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  #2 (permalink)
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  #3 (permalink)
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Dude,

I sincerely hope you find your "Holy Man", but I have to tell you, finding a mentor that knows what he's talking about is just one step in the process. Unfortunately there is only one path and its a long and difficult one. Everyone here who has "made it" has been through a very long and difficult process. There will be times that you want to give up, you have to just keep going. In addition to the method there is the psychology. You can read books and learn from others but at the end of the day you aren't trading against anyone in the market except yourself. The best advice I can give anyone is to stay in the sim as long as you can before you risk your capital. Because once it's gone it's gone. Now don't get me wrong, I'm not saying it's impossible, it certainly is possible but I just felt like setting expectations.

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  #4 (permalink)
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Sony108 View Post
I wonder how to start the right way?

I've heard many answers such as .. You have to make your own experience , you have to study hard , you have to attend many webinars , conferences , courses, and you have to build your own strategy does not help the winning system of another trader ... etc, etc, etc, etc. .

Mmm, I do not believe that .. I think the most accurate way is to find a system that works and make it work the right way system , I do not seek the Holy grail but if I seek the Holy Man ... one who knows the way , who can be a guide because he knows these roads .. one profitable trader ...

But .. Where do I find them? Where to find that person and he want to share and teach his trading methodology ? If more than 80 % of traders are losers... And most questions where to turn when you get the same answers and perhaps many of them have failed to be successful ...
Yeah, I know , it's the looking of all newbie.. I have not lost hope .. be profitable is a long way from waste of time, money and energy .. yet few very few of us make it, among the thousands .. after following all the advice ..

I do not know if this post is a reflection or a hope that the Christmas miracle happens ..
Where to turn? where to study? Which trading academy ?


There is a Holy Man here?


Merry Christmas to all!!

Sony108

No system here will make you win the market! mentoring is good, but it takes tons of hours to understand market.

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  #5 (permalink)
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WolfieWolf View Post
Dude,

I sincerely hope you find your "Holy Man", but I have to tell you, finding a mentor that knows what he's talking about is just one step in the process. Unfortunately there is only one path and its a long and difficult one. Everyone here who has "made it" has been through a very long and difficult process. There will be times that you want to give up, you have to just keep going. In addition to the method there is the psychology. You can read books and learn from others but at the end of the day you aren't trading against anyone in the market except yourself. The best advice I can give anyone is to stay in the sim as long as you can before you risk your capital. Because once it's gone it's gone. Now don't get me wrong, I'm not saying it's impossible, it certainly is possible but I just felt like setting expectations.

Well said.. I agree with all of this. And let me add that even if you find a mentor, there is a great chance you will not be able to follow their method because you have not tested it enough(lack of trust in it) or it does not fit your persona..

Unless you have about 3 years to pursue this full time while having no income, it is my opinion you are destined to fail. Even then, you will have to dig very very deep within your soul to make it in this business.

Follow @WolfieWolf advice. Stay in SIM until you can double an account by risking no more than 2% on any trade. When you can do that twice.. you are ready to tackle live trading and all of the challenges it brings..

All the best to you in trading,

Wolf

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  #6 (permalink)
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Wolf power!

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  #7 (permalink)
Market Wizard
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Sony108 View Post
I wonder how to start the right way?

I think the most accurate way is to find a system that works and make it work the right way system , I do not seek the Holy grail but if I seek the Holy Man ... one who knows the way , who can be a guide because he knows these roads .. one profitable trader ...

I do not know if this post is a reflection or a hope that the Christmas miracle happens ..
Where to turn? where to study? Which trading academy ?

There is a Holy Man here?


Merry Christmas to all!!

Sony108

I'm sorry, but there probably isn't a Holy Man here, or anywhere.

However, there are many successful traders in the world; some post on this forum. Some suggestions:

1. Get an elite membership on futures.io (formerly BMT). If you can trade, you can pay the 100 bucks. It really is worth it.

2. Browse around the site and sample some of the threads here. Check out the different methods and look for something that clicks for you.

3. If you haven't already, get a trading platform (many are free on a trial basis) that lets you make simulated trades. Try some of the methods you like in simulated trading.

4. Unfortunately, simulation only goes so far. Until you put yourself at risk with real money, you don't face the psychological pressures of real trading. The problems that traders have is not necessarily that their methods are no good (there are many, many workable methods), but that risk of loss or potential for profit scramble their brains and make them forget all their methodology. Get a method that makes sense to you, and then find out about how you respond to profit and loss. Improve on both the method and your psychological responses.

5. Repeat until it works.

6. However, do not risk money you can't easily afford to lose. Because you will lose some even if you're good. If you can't afford losses, stay with sim even though it is only a limited version of trading until you can accumulate the money to afford very modest risk, and then limit risk to what you can afford.

7. @Big Mike is always suggesting people open a trading journal here to document their trades and to be accountable. This is one way to face both the method issues and the psychological issues without going broke. You may (or may not) want to try it. But think about it.

8. Work, risk and loss (as well as gain) are a part of the process. Do not imagine that a trading academy or web site or super-trader or guru will do it for you. (Question: if someone had a sure-thing way to make millions of dollars in the market, why would they bother to sell it to anyone, instead of just using it themselves?)

OK, this got to be a long response, and I don't want to sound like I know what you should do, because, of course, I don't. But look at some of these things and do what makes the most sense to you.

Good luck.

Bob.

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  #8 (permalink)
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Sony108 View Post
I wonder how to start the right way?

I've heard many answers such as .. You have to make your own experience , you have to study hard , you have to attend many webinars , conferences , courses, and you have to build your own strategy does not help the winning system of another trader ... etc, etc, etc, etc. .

Mmm, I do not believe that .. I think the most accurate way is to find a system that works and make it work the right way system , I do not seek the Holy grail but if I seek the Holy Man ... one who knows the way , who can be a guide because he knows these roads .. one profitable trader ...

But .. Where do I find them? Where to find that person and he want to share and teach his trading methodology ? If more than 80 % of traders are losers... And most questions where to turn when you get the same answers and perhaps many of them have failed to be successful ...
Yeah, I know , it's the looking of all newbie.. I have not lost hope .. be profitable is a long way from waste of time, money and energy .. yet few very few of us make it, among the thousands .. after following all the advice ..

I do not know if this post is a reflection or a hope that the Christmas miracle happens ..
Where to turn? where to study? Which trading academy ?


There is a Holy Man here?


Merry Christmas to all!!

Sony108

Nope...no holy man here or anywhere....mentors are good but eventually you need to internalize a method for yourself.

My suggestion....go to forex as your first trading instrument. Watch price move around for a course of months. Put on a couple of trades using the smallest size possible. See what happens. Figure out how you could have executed and managed the trade differently. Try it again.

You may consider trading using multi day strategies as opposed to day trading. You'll probably last longer.

Write everything down. Get in the habit of keeping detailed stats about all aspects of our trades. This will be your saving grace when you experience draw down.

Most importantly, don't quit your day job....now or perhaps ever. Don't trade the rent money.

PM me if you want more details.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #9 (permalink)
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Johor, Malaysia
 
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"where to find the path?

--------------------------------------------------------------------------------

I wonder how to start the right way?

I've heard many answers such as .. You have to make your own experience , you have to study hard , you have to attend many webinars , conferences , courses, and you have to build your own strategy does not help the winning system of another trader ... etc, etc, etc, etc. .

Mmm, I do not believe that .. "




If you do not believe that...the market will make you believe that. Of course, the market charges a premium for the lessons.

However, if you can achieve the first paragraph you wrote, you already found your holy grail.


mykee

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  #10 (permalink)
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Buenos Aires / Argentina
 
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Thanks


WolfieWolf , supermht , Traderwolf , bobwest , PandaWarrior , mykee:

I'm really very grateful and happy for your feedback.

watching the time you took to answer a newbie like me, for the sole purpose of sharing their experiences and help. it makes me happy that there are people with the heart to help others .
Thank you very much !

Wolfiewolf : True, finding a MENTOR is an important first step , well knowing that methodology applied and adapted to the own trading may have a good chance of success, of course with thousands of hours of practice and study ... and I agree it is a very hard the trading road .
I'll take your advice very seriously , especially the stay in SIM .. Thanks Alot !

supermht : thanks for your advice and yes ... very many hours at the monitor.

Traderwolf: Thank you for every one of your tips, I understand what you tell me, about mentor and to follow their way of trading. Ill follow in SIM risking 2% of each trade. I will follow to @WolfieWolf.
Thank you very much.


bobwest: ok, I'll do what you advise to me, I will become a elite membership, but how to know which methods are good?

About SIM I agree with you, it helps a lot practice in SIM, but it has nothing to do with the real trading is the day and night. I am aware I'll have to lose money to be profitable .. Ill try that money I'll have to lose is the lowest possible.
Thank you so much for your time and help.

PandaWarrior: Thx! I have very little experience but it was about 3 years in SIM in forex, could never find the way .. I was aimless and alone. I have made some technical analysis courses and have even been in a trading room( YM Trading) - .
I made the mistake of which you me mention, never wrote my trading, this not happen again.

Never do trading with the money I need, and would not let me work to do trading .. My head could not bear the pressure of having to trading for a living.
Thank you very much for volunteering for PM for details.
I am very grateful.

mykee: thanks for replying the post. I know I have to study a lot, but me alone, would be very difficult, harder than it already is.
Thx!

Again, I want to thank to every one of you, and I hope someday to return such generosity.

keep in touch!

Sony108

PD: Sorry my drafting errors, my English is not very good.

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