I want to help you become more realistic about what you are embarking on right from the start so you have the proper perspective and can make the best decision as to your next step.
There are some replies here already that are very valid and you need to think about them before you do anything.
The most important thing is to have a clear reason why you want to pursue this venture.
Understand that all of us, at some point in our trader development, was told everything you are about to read and learn here, and most of us did not understand or comprehend the true wisdom of all the suggestions and advice until we had already gone a full circle around the block.... with bruised accounts, egos, brains, emotions, and a whole gambit of frustrating experiences. Most of us wish now that we had listened more closely to all that was being suggested to us. And, more to the point, there is a 99% chance that you will pay the same dues no matter what you learn here. I would bet on it.
1 - This is not a race. You are looking at 6 months or more of solid screen time before you have enough visual memory to compile the technical information being presented, whether you use indicators or not. This means understanding of what you are looking at will come slowly and is compounded the longer you observe the charts in the live market. You can use replay, but again, it is the observation time you need. This observation must come at a speed similar to the real market since ultimately, your reactions will need to be performed at the real speed of the markets you observe, and the strategies you develop. There are many traders, and we all trade at a different speed and tempo. This is the result of who we are and how we observe and conclude.
2 - This activity does require some degree of brain power. So, reading and spelling are essential. It is going to be hard if your reading level is less than 9th grade. Understanding requires analysis. Analysis requires conceptual structures and conclusions. Good reading comprehension is required for understanding what you will need to read, which brings us to #3.
3 - This forum is full of some great information. There are other peoples journals, which is where I would recommend you start. You can learn a lot by listening to others. Put things into perspective. If you do not understand something you read, then just store it away for later. Advance only as fast as you can comprehend.
4 - Keep everything simple. If something sounds too complex, then it is too complex for you now. However, a few months from now it may suddenly come back to you like a light going off in your head.
5 - Be patient. Do not trade live cash until you have a precise structured plan for trading. You can find out what this means by reading the forums. There are forums dedicated to almost everything about trading here.
6 - If you are serious, you are going to need access to the Elite Section.
7 - Set aside a budget in terms of time and money for this venture. Understand that this trading thing is a risk capital venture and most everyone loses quite a bit of money the first few years no matter how well we think we prepared.
Do not be afraid to ask for specific help. There are few secrets in trading. But understand, that although everything in this forum is more or less free, the burden falls on you to get what you need. Unless you are willing to spend money on buying someones dedicated time and help, you are going to have to set your own pace, and be patient waiting for answers. If you have difficulty explaining your issues, it is going to be difficult for anyone to give you an adequate response.
Stick around and start reading. Make a schedule and sit in front of your charts for a couple of hours each day just watching. You can read while you watch. There really is nothing for you to do right now except observation and research. From your posts to date, there is no sense actively trading. You need more foundation. Based on your posts, there is not even any value in your spending money on anyones time until you can at least clearly explain what you are trying to do to yourself.
If I am off base with these suggestions, then it is your fault. If you lose in the market, it is your fault. If others cannot help you it is your fault. Basically, everything about trading will your own fault, especially the profits!
Last edited by Jaguar52; July 24th, 2012 at 01:55 PM.
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