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What I wish I would have known when I got started.


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What I wish I would have known when I got started.

  #101 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
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I wish I had known I could lose money.

It took sooo long to get that idea, even after losing some.

Call me slow.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #102 (permalink)
 
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 Silver Dragon 
Cincinnati Ohio
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I wish I would have known its not possible to copy another traders strategy and have the same success as they do.

Robert

nosce te ipsum

You make your own opportunities in life.
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  #103 (permalink)
Splinter
NY USA
 
Posts: 4 since Oct 2021
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As a relatively new trader, especially to futures, I really appreciate this thread and all the insight.

I traveled the same road many of you did: indicator cocktails trying to crack the market. Reading about all these "proven methodologies" and watching video after video of different strategies to conquer and win.

As of now for me the indicators are dropping off my charts and I'm focusing in on price action on one instrument only. The market, I feel, isn't necessarily a random thing. There are repeatable structures that occur. They may not look exactly the same but there's that common thread as far as consolidation, spike, channel/trend, consolidation....rinse and repeat.

The psychology and pulling the trigger is a challenge for me for sure. I've taken from the market and given back...at this point it feels like I'm treading water. I've always been very conservative with my size so no accounts blown...I'm going to try to keep it that way.

I don't know any other traders, so its nice to see there are others who are in the trenches also.

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  #104 (permalink)
 
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 LittleFinger 
Denver Colorado/USA
 
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Wish I had given all the ways of analyzing volume a closer look. Wish I had ignored market depth earlier.

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  #105 (permalink)
 
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 AmirTrader 
Dubai , UAE
 
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i wish i would known when i started that it takes +10 years to master market .
the most similiar to futures trading is relationships with women .you should know when to approach ,when to accept rejection ,and know more about the song : "a woman is a sometimes thing " by Leslie Scott .
if you are successful with women , it's likely you are successful with trading because in both cases :
"No place for beginners or sensitive hearts" as singer Sade says in her song named Smooth Operator .
mastering both of these categories ( women and trading ) takes ages , sooner or later you will learn the patterns and probabilities in action .

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  #106 (permalink)
 
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 TradingDrills   is a Vendor
 
Posts: 9 since Nov 2011
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Thank you DeadCatBounced!

I wish I would:

1- Have known the true nature of the trading, which is a High-Performance Skill career similar to professional athletes, musicians, artists, physicians, etc. I was very much a knowledge-based-oriented person due to my academic background instead of being a skill-based-oriented person.

2- Have found a Training System based on the High-Performance Skill Development. I spend > 40K and 7 years on spammers and junk education and systems. None of these courses had the right training/coaching system suitable for High-Performance Skill development on a profitable trading system.

3- Have read the works of Dr. Bloom’s, showing that all the superb performers had practiced intensively, studied with devoted teachers, and were supported enthusiastically by their families/friends. Also have read "The Cambridge Handbook of Expertise and Expert Performance", which showed that Experts are always Made and not Born. These studies indicated that it will take several years to achieve High-Performance Skills and there are no shortcuts.

4- Have found a well-informed mentor to guide me to use my time wisely, by engaging in “Deliberate Practice” — a practice that focuses on tasks beyond my current level of competence and comfort.

5- Have had a coach that could develop self-awareness in me to discover all variables that are important in trade personalization. I wish I knew that success in trading relies on “Mastering the Execution of a Profitable Trading System Fitting the Psychology of the Trader”. This coach could have helped me to identify all these important variables such as the suitable time to focus on trading, trading session, style of trading, speed of mental processing, time frames, personal dollar loss tolerance, underlying derivative, trade management, level of risk tolerance, and selection of broker.

6- Have had a Monitor to check my progress toward mastery of trading as a High-Performance Skill. Extensive scientific studies and research have shown that people who are committed to action by reporting to someone else were performing up to 243% better than people who pursue the same goal alone. I know now
that monitoring complements the coaching process to create a sense of commitment and transparency in traders in order to plan at a high level to reach maximum efficiency and productivity.

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  #107 (permalink)
 
chipwitch's Avatar
 chipwitch 
Nashville, TN
 
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AmirTrader View Post
i wish i would known when i started that it takes +10 years to master market .
the most similiar to futures trading is relationships with women .you should know when to approach ,when to accept rejection ,and know more about the song : "a woman is a sometimes thing " by Leslie Scott .
if you are successful with women , it's likely you are successful with trading because in both cases :
"No place for beginners or sensitive hearts" as singer Sade says in her song named Smooth Operator .
mastering both of these categories ( women and trading ) takes ages , sooner or later you will learn the patterns and probabilities in action .

"Mastering women" starts by not saying things like "mastering women."

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  #108 (permalink)
Salasar
Toronto
 
Posts: 19 since Jun 2020
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Thanks Received: 10


Splinter View Post
As a relatively new trader, especially to futures, I really appreciate this thread and all the insight.

I traveled the same road many of you did: indicator cocktails trying to crack the market. Reading about all these "proven methodologies" and watching video after video of different strategies to conquer and win.

As of now for me the indicators are dropping off my charts and I'm focusing in on [COLOR="Black"]Priceva[/COLOR] on one instrument only. The market, I feel, isn't necessarily a random thing. There are repeatable structures that occur. They may not look exactly the same but there's that common thread as far as consolidation, spike, channel/trend, consolidation....rinse and repeat.

The psychology and pulling the trigger is a challenge for me for sure. I've taken from the market and given back...at this point it feels like I'm treading water. I've always been very conservative with my size so no accounts blown...I'm going to try to keep it that way.

I don't know any other traders, so its nice to see there are others who are in the trenches also.

I will continue to try and grow, the education never stops...I'm looking forward to hearing any advice or comments from traders who have been here for a while. I think this thread could be very helpful in learning more and staying accountable.

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  #109 (permalink)
 Arthurtrades 
Paris France
 
Experience: Intermediate
Platform: sd
Trading: sd
Posts: 18 since Aug 2023
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I wish I took more breaks after losses and I wish i had learned to enjoy the process a little more.

It's a marathon not a sprint.

This is my first post on this forum.

The value is so deep i feel like I'm Juggling with golden nuggets.

Arthur

Sent using the NexusFi mobile app

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