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I have been investing for over 30 years on and off, and I have learned that making money is easy in the markets, but not giving it back is hard. Whether it is over trading or just trading with an emotional bias which can be seen in the damage to the P&L bottom line, it takes a lot of work to be a consistently successful trader. Currently, I am learning to master day trading, one step at a time. This journey may never end, but I look forward to positive growth and profits while I make my way toward my goals. One of the most important trading philosophies that I have learned over the years is that, “If we don't spend as much time preparing our minds as we do preparing our charts, then we are not properly prepared to trade.” In joining this website, I hope to share my investing insights, and to learn much from the others here who have been educated by the unforgiving hydra(s) we call the auction market(s)!
My name is Larry, I am a disabled person that can't work anymore and don't have much of an income. I do have a little to start trading with and would appreciate all the help I could get. If someone that
knows what they are doing would feed me some trade ideas and explain why they picked that particular trade I believe that would help me more than watching videos of old trade examples. If I could be in a trade with am experienced person and watch it develop then explain when and why it was time to sell, I mean I know if the trade is going against you or if it runs up a bit then starts to turn I understand it's time to sell. But I'd like to see some good runners. Never have in real time.Also I'm with ally bank for my broker but so many things I can't do Like all these people that trade before the market opens, and commodities and futures, crypto other things I'm not thinking about right now.Anyway I would like some suggestions on who is the best company to use for trading, the reason I went with ally was they advertised $0 commission trades but now I hear others offer that too.Anyway If I could get ahead to the point I could stay home and day trade instead of being out in the world trying to find some way to make some money. I do believe if I could trade with someone successful I would learn, everyone learns in different ways. PLEASE HELP ME.Thanks to all Larry
I do wish you luck, but it is kindness to point out that trading for a living is very difficult, and that many attempt it but few succeed. I do not want to be discouraging, just factual.
It is certainly possible to learn, and I suggest following and understanding traders' posts as they discuss their trades, for example in trading journals, and seeing if you can extract your own lessons from them. You can learn a lot that way, and from reading the other posts in the forum. I would not, under any circumstances, fall for any offer you may encounter to sell you any system or to show you how to trade for money (which you will not find on this forum, by the way, but which you may encounter as you look for trading information elsewhere.) These are almost always simply scams.
I also have to tell you that actual trading in real markets is the best way to learn trading after a certain point, but this can become very expensive, because losses are going to happen. If you do not have funds that you are willing to put at risk -- which means, that you can lose without it affecting you financially in any important way -- you will find it very difficult to succeed.
And unfortunately, you are not going to find someone who is willing to feed you the trade ideas and walk you through them, as you are asking.
I really do not want to be discouraging, but you will have a very hard road. Do not risk money that you cannot afford to simply lose, and lose quickly. Learn as much as you can, find out about trading vehicles and methods, and be very aware of the risks. Frankly, the best advice is not to risk money that you are not willing to simply kiss goodbye to if you have to, because losing is part of learning, and is going to happen even if you become an expert.
Realistically, if you cannot afford to lose some or all of what you put at risk-- or if money is tight, as it appears it is for you -- you probably should not be looking for trading to be what solves your financial problems.
It sounds like your situation is making you more hopeful than realistic, and I want to counsel realism instead.
Good luck. Be careful.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
An amazing gathering venue for like-minded people (read: traders) to share ideas, info and knowledge. I look forward to reading some of these posts and to learn from fellow traders here!
Hello Big Mike and fellow traders of varying skill levels.
Let me introduce myself
I have (relatively) recently started participating in the markets. I started with stocks, then options, forex, and now futures. The idea of building a profitable system is very appealing to me because I want to escape my job: I work as a server in restaurants. My biggest challenge so far has been inactivity. I tend to half-ass my research because I start thinking too big and seem to overcomplicate everything in my head. When I was trading forex, I fixated on the fundamentals but found that I lack the basic knowledge to put economic data into context and draw accurate conclusions. These days, I want to find something ultra-simple that I can use as a building block for my futures strategy--whatever that may be. It seems a good place to start is with Al Brooks' two legged pullback system. Thoughts?
I'm looking forward to learning and interacting with this forum. Thanks everybody!
