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How did you learn to trade?


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How did you learn to trade?

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  #1 (permalink)
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New poll started:

How did you learn to trade?

 


Please vote, and discuss this subject using the thread.

Thank you to @JMAL for the thread idea. If you have an idea, share it here:



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  #2 (permalink)
Legendary Systematic Algo Trader
Somewhere, Delawhere, USA
 
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I chose 'Other', because this was my path (in a nutshell):
  • Won a stock trading contest in a high school business class (circa 1985), self-taught reading quotes from the paper
  • Ken Roberts World's Most Powerful Money Manual & Course, $175 back in 1997
  • Self-taught stock trader (bargain shopping)
  • Self-taught trader (books upon books, FIO, YouTube, etc.), 2007-current
  • Self-taught developer of algorithmic trading systems, 2018-current
  • Kevin Davey's Strategy Factory Workshop, 2020
On the whole, books were/are my main education, and there were lots of breaks between working on other things. Kevin Davey's course was the tipping point for being profitable with my automated strategies.

~vmodus

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  #3 (permalink)
Legendary Market Wizard
Cleveland Ohio/United States
 
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vmodus View Post
I chose 'Other', because this was my path (in a nutshell):
  • Won a stock trading contest in a high school business class (circa 1985), self-taught reading quotes from the paper
  • Ken Roberts World's Most Powerful Money Manual & Course, $175 back in 1997
  • Self-taught stock trader (bargain shopping)
  • Self-taught trader (books upon books, FIO, YouTube, etc.), 2007-current
  • Self-taught developer of algorithmic trading systems, 2018-current
  • Kevin Davey's Strategy Factory Workshop, 2020
On the whole, books were/are my main education, and there were lots of breaks between working on other things. Kevin Davey's course was the tipping point for being profitable with my automated strategies.


Ha! A fellow Ken Roberts student! I was sucked in by Ken's description of how easy futures trading was, back in late 80's early 90's.

I did not learn much in that course, but I remember they did honor their "paper trade profitably or get your money back" guarantee. But by then the hook had been set, and years later here I am!!

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  #4 (permalink)
Legendary Systematic Algo Trader
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kevinkdog View Post
Ha! A fellow Ken Roberts student! I was sucked in by Ken's description of how easy futures trading was, back in late 80's early 90's.

I did not learn much in that course, but I remember they did honor their "paper trade profitably or get your money back" guarantee. But by then the hook had been set, and years later here I am!!

Yeah, I remember reading about that in your book. I am sure there are plenty of TWMPMM 'graduates' here at FIO. I became a skeptic of his after a while and I am not sure how successful he was as a trader, if at all. As a salesman, he was very successful. I do recall one trade he described which caught him on the wrong side of platinum, if memory serves. Rather than cutting his losses, he hung onto it and was deep in red, until it finally turned back in his favor. The point was: see, I was right after all!

From what I know now, I realize it was a horrible example to teach to new futures traders. Thankfully, I have learned a lot more from actual traders, as well as paying my own 'market tuition'.

~vmodus

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  #5 (permalink)
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Interesting results so far.

How could I have broken down the poll options better, so it wouldn't be so lopsided?

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  #6 (permalink)
Legendary Market Wizard
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Big Mike View Post
Interesting results so far.

How could I have broken down the poll options better, so it wouldn't be so lopsided?

Mike

Maybe broken it down into winning and losing trading - that would tell you what approach was the most effective.

If 67% learned on their own, and X% of those are profitable, that would be interesting to know.

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  #7 (permalink)
Cape Town South Africa
 
Experience: Intermediate
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I chose 'other' as it was a combination of:
- On-line coaching (not useful)
- Books
- Websites and Youtube
- Bumping my head and telling myself to throw in the towel but a week later I was back
As my background is not anywhere close to trading (Transformational Human Resources and Labour Dispute Resolution), my journey has been a long one and the most challenging was and still is (although less now), sticking to the trading plan.
I currently confine myself to trading futures seasonal spreads (mainly grains & energy) and finally reached the stage where I am happy with the way it is going.

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  #8 (permalink)
Istanbul / Turkey
 
Experience: Master
Platform: Motivewave
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Trading: ES, Currency, FDAX
 
Posts: 31 since Dec 2018
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By suffering + self-taught. Wiped my accounts several times. Punched tens if not hundreds times. That's how i learnt how to punch and kick back

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  #9 (permalink)
Warsaw
 
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I do not take anything for granted so I check each concept myself. It takes some time to discover if it works for myself or not. The sources are: reading books, following social media groups, paid and free courses (in the past). Now I treat above sources to gather some concept rather it will make me rich.

The second step, the most important, is analytical thinking, experiments etc.

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  #10 (permalink)
Atlanta, GA/USA
 
Experience: Intermediate
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Big Mike View Post
Interesting results so far.

How could I have broken down the poll options better, so it wouldn't be so lopsided?

Mike

The reason the results are so lopsided is because the self taught Trader is the kind of person that would have found and use this site. Thatís my belief anyway.

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  #11 (permalink)
San Antonio, TX
 
 
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I agree with Trader146.

I selected self taught, but would love to have teacher! If I knew where to go and get one.

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  #12 (permalink)
dallas texas
 
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Several trade rooms, psych training, free webinars and books.
One hard road to travel.

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  #13 (permalink)
Leominster Massachusetts United States
 
 
Posts: 2 since Jan 2021
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I got into trading through Russ Whitney's extremely expensive seminar training called TMTT (teachmetotrade).
I read many books, my favorite were the Jim Cramer books. I lost a TON of money. The one trade that I lost the most including most of my home equity loan which contributed to my divorce, was a hurricane stock, I forget the name. But it was a successful trade at first making a good profit, they made money repairing houses after a disaster and were predicting a busy hurricane season. So I went all in. Well, some foul play like pump and dump, somebody in the company involved in bogus press releases to drive the price higher while shorting. I lost it all. It went down so fast there wasn't time to get out. I remember the date. 6/6/06. Just my luck.

I did some commodity trading thru a broker thinking that was a quick way to make it back. They knew what to do with my money lol. They love commisions, they don't give a damn about your investment.

Now most of my education is done thru YouTube, that's how I found Pats price action trading.

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  #14 (permalink)
Atlanta GA
 
Experience: Beginner
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I'm in my first year of trading taking a self-taught approach, which is how I built my IT career.

After months of "Click & Lose", I've shifted to algorithmic trading. While new to trading, I'm not new to data management and analysis. As I gained some experience and insights into the markets and how it's reflected in data, I began to structure a plan.

For me, I'm focused on building a data platform to support trading. So I'm learning two new programming languages (C# & Python) while dusting off some of my old technical skills ( I used to be a decent engineer).

While building my technical ecosystem, I'm also studying books on trading and modern data analysis techniques. Some of the books have been recommended here on FIO. That includes:

Mind Over Markets: Power Trading with Market Generated Information, Updated Edition
Dalton, James F.

Systematic Trading: A unique new method for designing trading and investing systems
Carver, Robert

I've even found some good academic papers to help my self education. Stuff like this:

https://ethz.ch/content/dam/ethz/special-interest/mtec/chair-of-entrepreneurial-risks-dam/documents/dissertation/master%20thesis/thesis_schroeter.pdf

I've stopped my Click&Lose trading while I build my system and get educated. I do have a couple automated trades running against a sim account using the SharkIndicator tools.

Initially I thought of some paid courses, but I'm finding ample free material on-line and in relatively low-cost, but high-value books.

Regardless of your educational approach, time and focus will be necessary to be successful. I built a successful IT career without an associates degree. That includes being a CIO. I focused and became skilled in technical and business areas that directly supported my goals. I had to be ruthless in my focus to get the best return on my time.

So, that's the approach that generally works for me. Your milage may vary.

Happy trading...

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  #15 (permalink)
Munich, Germany
 
Experience: Advanced
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I studied finance in college.
I did an internship at an investment management firm, under the mentorship of former wall street flow and prop traders.
I worked in fixed income sales and trading at a large broker/dealer.
I went back to investment management where I went on to run a team of traders and manage multi-billion dollar bond funds.
I studied for and earned my CFA.

Nowhere, in any of this, did I ever learn how to become a consistently profitable speculator / trader.

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  #16 (permalink)
Cochrane Alberta Canada
 
 
Posts: 12 since Nov 2013
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For me, my trading began to improve when I stopped trying to gather information from others. It left me completely open to focus 100% on just developing my own complete method of trading. During that process, I really learnt what kind of trader I am and where my strengths and weaknesses lie. Up until then, I always thought I wanted to be an intraday trader but during my process, I found that I was a much stronger swing trader. I feel way more comfortable as a swing trader. That is something I don't think I would have ever discovered by trying to trade someone else's method.... best of luck to everyone and have a wonderful day.

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  #17 (permalink)
Legendary Market Wizard
Houston, TX
 
Experience: Advanced
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Big Mike View Post
How could I have broken down the poll options better, so it wouldn't be so lopsided?

Could of allowed multiple selections rather than just one?

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  #18 (permalink)
Murfreesboro, TN, USA
 
Experience: Intermediate
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I read all the books, joined multiple trading groups and chat rooms, surfed YouTube and the internet. But the biggest difference maker for me has been to find a trading mentor and getting a mindset coach. Both have been absolute life changers for me. I highly recommend stockoptioncoach.com.

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  #19 (permalink)
Houston Texas
 
Experience: Intermediate
Platform: Ninja, Multicharts, LinnSoft InvestorRT,
Trading: Futures
 
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I started out at Online Trading Academy, classroom instruction.

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  #20 (permalink)
Chicago + Illinois/USA
 
 
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NaturePip View Post
For me, my trading began to improve when I stopped trying to gather information from others. It left me completely open to focus 100% on just developing my own complete method of trading. During that process, I really learnt what kind of trader I am and where my strengths and weaknesses lie. Up until then, I always thought I wanted to be an intraday trader but during my process, I found that I was a much stronger swing trader. I feel way more comfortable as a swing trader. That is something I don't think I would have ever discovered by trying to trade someone else's method.... best of luck to everyone and have a wonderful day.

No truer words could be spoken. Figure out who you are and make it better. Don't look for the next guru's suggestion.

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  #21 (permalink)
Kalispell=Mt./USA
 
 
Posts: 30 since Sep 2019
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NaturePip View Post
For me, my trading began to improve when I stopped trying to gather information from others. It left me completely open to focus 100% on just developing my own complete method of trading. During that process, I really learnt what kind of trader I am and where my strengths and weaknesses lie. Up until then, I always thought I wanted to be an intraday trader but during my process, I found that I was a much stronger swing trader. I feel way more comfortable as a swing trader. That is something I don't think I would have ever discovered by trying to trade someone else's method.... best of luck to everyone and have a wonderful day.

I could have written this post. Except..... I would have put intraday trader where you put swing trader and vice versa. You are so right on with "It left me completely open to focus 100% on just developing my own complete method of trading".

Watching almost everyone else trade makes my head spin.

I remember one trader say to trade like a 10 year old. "Is it going up son or is it going down?".

I do like what Al Brooks said, "There's a trade in every 5 minute candle".

The question is, can I see it?

Ah, ain't this fun?

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  #22 (permalink)
Sydney Australia
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader
Trading: Emini ES
 
Posts: 6 since Aug 2020
Thanks: 1 given, 3 received

I learned from a trading academy both online and in class learning.

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  #23 (permalink)
Cochrane Alberta Canada
 
 
Posts: 12 since Nov 2013
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redbarntrades View Post
I could have written this post. Except..... I would have put intraday trader where you put swing trader and vice versa. You are so right on with "It left me completely open to focus 100% on just developing my own complete method of trading".

Watching almost everyone else trade makes my head spin.

I remember one trader say to trade like a 10 year old. "Is it going up son or is it going down?".

I do like what Al Brooks said, "There's a trade in every 5 minute candle".

The question is, can I see it?

Ah, ain't this fun?

I couldn't agree more. Watching others trade makes my head spin also. Seen some freaky trade by people who have no idea what they are doing.

I also agree with Al Brooks and what you said about whether you can see the trade.... That's where all the fun comes in. I LOVE technical analysis and trade development. I will often times get into it so deep it is 5 or 6 hours before I even look up. It's fun once you start to understand the charts and how they move.

have a great day,

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  #24 (permalink)
Kalispell=Mt./USA
 
 
Posts: 30 since Sep 2019
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NaturePip View Post
I couldn't agree more. Watching others trade makes my head spin also. Seen some freaky trade by people who have no idea what they are doing.

I also agree with Al Brooks and what you said about whether you can see the trade.... That's where all the fun comes in. I LOVE technical analysis and trade development. I will often times get into it so deep it is 5 or 6 hours before I even look up. It's fun once you start to understand the charts and how they move.

have a great day,

Sounds to me like we have a similar pair of glasses on. Yep, my little wifey and I have spent 3.5 years @ 60-70 hours a week staring at charts, watching trading/psychology videos. Since we don't have mentors and have no intention of paying some huge fee for training, we have taken our own path.

It's been a long haul, but it is worth it.

We have had the time as I am retired from the day job. Keep our life simple and devote our time 100% to trading.

It's worth all the effort. When we can see results of 30%-50% per day (roughly 1 hour of trading the open), I think it's worth it.

Scalping is not for everyone, but then we are all so different.

Each to his own heh?

Like the Beatles song says "You know it don't come easy". But in the end it is simple once you can relate to price action and set aside excessive fears.

Enjoy those charts and thanks for the comment!

Ps. Al Brooks' success probably came with countless hours figuring himself out and figuring out the charts. I can't trade like him. I'm not in his league, but he probably can't trade the way I do. But I do admire him.

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  #25 (permalink)
Toronto Canada
 
Experience: Beginner
Platform: NinjaTrader
Trading: Emini
 
Posts: 3 since May 2013
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Probably like many on here. Start on sim, make some money then move to live trading and lose using the same setups.

Some say and I agree, real money simulation beats fake money sim. Itís costly, but thank god i can afford some downs.

I am green. Itís a challenge and I salute all of you who solved this puzzle of how to make money in this craft. Hope to join the club soon!

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  #26 (permalink)
Minoqua Wi USA
 
 
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bcihlar View Post
No truer words could be spoken. Figure out who you are and make it better. Don't look for the next guru's suggestion.

Ditto that!

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  #27 (permalink)
chicago, IL usa
 
 
Posts: 8 since Jan 2021

You can learn to trade by watching a trader trade; really hard to learn anything without watching.

Here is the big BIG problem; I saw in a video there are 2188 "futures trading rooms" of which 2163 DO NOT TRADE!. The futures trade industry is a futures sales room industry in which no one trades.
There are only a handful futures rooms that actually trade - and sim at that.
I am in Trade for Greatness - she is a marvelous trader; averaging some $498/d for the last 6 months; all trades are shown in real time and easy to see, replicate and understand

Finding a futures trade room that actually trades that you can see and duplicate and learn by watching is really hard. Just saying...

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  #28 (permalink)
Legendary Liquidity Hunter
Indianoplace, IN
 
Experience: Intermediate
Platform: SierraChart
Broker: CQG
Trading: All Micros, especially the ones that move
 
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Posts: 2,261 since Feb 2017
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I started off in 2017, knowing absolutely nothing except that I wanted to learn how to trade. Day trading stocks wasn't an option because of the 25K minimum which I did not have at the time; this led me to futures.

Fortunately, I discovered FIO almost right at the beginning, and it has been an absolutely invaluable resource, not to mention the friends made along the way. I really don't visit any other trading forums, because I believe everything you need to succeed is here. To date, the $100 for Elite membership is the only money I have spent on my education outside of the market other than a handful of books:

- Mind Over Markets (Dalton)
- Trading In The Zone (Douglas)
- Enhancing Trader Performance (Steenbarger)
- Daily Trading Coach (Steenbarger)

I've also pored over a number of free resources online that have helped and harmed along the way (unlearning bad habits can be difficult.)

Thousands of hours spent on charts; I spend more time on them than I do at my day job, which fortunately pays the bills without a huge time investment. Tried just about every conceivable method of technical analysis and type of indicator, along with a variety of markets, and huge amounts of learning and introspection in an effort to understand myself and who I am as a trader, where my strengths and weaknesses lie.

In the market, I have spent roughly $11K on my tuition in the form of losses and learning what not to do, mostly in the Micros (AKA $110K in the minis haha.)

I am also fortunate to have a fantastic friend and mentor that took me under his wing and has helped me immensely along the way. Even though he provided valuable information from the get-go, it has taken years of practice and understanding for his instruction and advice to really sink in. It can take some time before we are truly ready... and able... to be receptive. Most of this is not in the technique, but in coming to terms with who we truly are, and what resonates and makes sense to us as traders.

It has been a long and arduous journey. After four years, starting from scratch, I am finally at the point where I have established consistency, and am comfortable with my markets, tools and methods. But...

It is a never-ending process; every day in the market is a school day... so I am always still learning to trade There is much work to be done, and the passion required cannot be underestimated.

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  #29 (permalink)
Legendary Systematic Algo Trader
Somewhere, Delawhere, USA
 
Experience: Intermediate
Platform: TradeStation, MultiCharts
Broker: TS Securities, OANDA
Trading: Energies
 
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Big Mike View Post
Interesting results so far.

How could I have broken down the poll options better, so it wouldn't be so lopsided?

Mike

I don't know if multiple choice polls are an option (assuming you are running PHPBB), but that would give a better breakdown of percentages across learning modes.

~vmodus

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  #30 (permalink)
Legendary Pratik_4Clover
Mumbai, India
 
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I started off in 2017, knowing absolutely nothing except that I wanted to learn how to trade. Day trading stocks wasn't an option because of the 25K minimum which I did not have at the time; this led me to futures.

Fortunately, I discovered FIO almost right at the beginning, and it has been an absolutely invaluable resource, not to mention the friends made along the way. I really don't visit any other trading forums, because I believe everything you need to succeed is here. To date, the $100 for Elite membership is the only money I have spent on my education outside of the market other than a handful of books:

- Mind Over Markets (Dalton)
- Trading In The Zone (Douglas)
- Enhancing Trader Performance (Steenbarger)
- Daily Trading Coach (Steenbarger)

I've also pored over a number of free resources online that have helped and harmed along the way (unlearning bad habits can be difficult.)

Thousands of hours spent on charts; I spend more time on them than I do at my day job, which fortunately pays the bills without a huge time investment. Tried just about every conceivable method of technical analysis and type of indicator, along with a variety of markets, and huge amounts of learning and introspection in an effort to understand myself and who I am as a trader, where my strengths and weaknesses lie.

In the market, I have spent roughly $11K on my tuition in the form of losses and learning what not to do, mostly in the Micros (AKA $110K in the minis haha.)

I am also fortunate to have a fantastic friend and mentor that took me under his wing and has helped me immensely along the way. Even though he provided valuable information from the get-go, it has taken years of practice and understanding for his instruction and advice to really sink in. It can take some time before we are truly ready... and able... to be receptive. Most of this is not in the technique, but in coming to terms with who we truly are, and what resonates and makes sense to us as traders.

It has been a long and arduous journey. After four years, starting from scratch, I am finally at the point where I have established consistency, and am comfortable with my markets, tools and methods. But...

It is a never-ending process; every day in the market is a school day... so I am always still learning to trade There is much work to be done, and the passion required cannot be underestimated.

Well said and well done on your journey!

These early years are where we are susceptible to do lot of silly things and lose everything but if we manage through them, good days are not too far away.

________________________________________________
I think the concept of "noise" in trading is very over-rated. It has some value, because it highlights the fact that there are small fluctuations that you can and should just ignore. But one person's noise is another's major trend. - Bobwest
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  #31 (permalink)
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Rrrracer View Post
It is a never-ending process; every day in the market is a school day... so I am always still learning to trade There is much work to be done, and the passion required cannot be underestimated.

Ain't it the truth.

Great post.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #32 (permalink)
San Francisco, California, USA
 
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My journey:
First trade was at 12 years of age was 200 shares of TWA at 15-7/8 with money willed to me. Sold a few years later at 101. I was hooked.
At 16, started managing parent's portfolio.
In college, double major (Accounting and Finance-Securities). Had professor who was an inestment advisor. He taught me options. Life changing.
Tried to get a job at a brokerage but was told I had to work at Sears for two years to learn how to sell things.
Didn't want to work at Sears so became an accountant. Investing stayed a hobby.
Retired from accounting 30 years later. Did some investing but didn't stay very current with investing.
Found a wealth of information on the internet about Futures and Options. Tastytrade has several hours of free training everyday and it is archived.
I started this about two years ago and work at it five or six hours a day with good results.

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  #33 (permalink)
Legendary Recovering Method Hopper
Upstate NY
 
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My father began investing when he was fourteen picking stocks out of the newspaper and charting them by hand on graph paper. When I started at fourteen, I downloaded an app that showed me charts for any of the thousands of traded stocks - innovation!

My journey started with watching my dad manage my Roth IRA as the custodian. While he was always willing to teach, as a teenager I felt that investing/long-term trading was incredibly boring.

I tried to learn how to daytrade from a myriad of 20 something YouTube gurus which, much to my surprise, didnít result in instantaneous success. In fact, I still havenít been successful daytrading after nearly three years of working intently!

Where I did began to find success was with systematic trading. After reading every blog post Oddmund Grotte had ever written I built my first system for stocks. It was an extremely simple mean-reversion system that utilized IBS and RSI. I traded it for a few months with great success before the Feb-Mar crash in 2020. Nonetheless I was hooked and continued to test and build trading systems.

In recent months I discovered the universe of literature on growth/momentum trading in stocks - Darvas, OíNeil, Minervini, etc. These idea of cutting losses small and letting winners ride made a lot of sense to me. For the past five months Iíve been practicing this style of trading and have found great preliminary success. It is important to keep in mind that these past few months have been incredible for growth stock trading/investing.

Thatís my story so far!

-Zimmer

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  #34 (permalink)
San Francisco, California, USA
 
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Sorry, I want to elaborate on that original question:

I reaslly learned to trade when I was taught the benefits of trading merchanically. Now, I trade with the same mindset and mechanics for every trade. I follow a system by rote. And yes, options are my bread and butter but even futures are done in the same way. With options it is easier to trade by the numbers because you can go by the percentages of success. The rule of large numbers says that if you make 100 trades, all with a probability of 75%, you can pretty much bet on the fact that that somewhere around 75% (more or less) are going to be winners. You get the same percentages if you are trading futures options, as opposed to futures themselves. It is when I learned to eliminate phrases like, "I heard...", "I think...", and "I read..." from my trading mindset that I really started to win. If I look at my portfolio of open option trades, about a third of them are in companies that I have no idea what they do, but the percentages say that this is a trade with an 76% porbability of success. In short, I know I can trust the numbers one hell of a lot more than some guru saying that he can predict the next Amazon, for a fee of course.

Maybe that isn't when I learned to trade, but it is when I learned to trade successfully.

Good luck to all in 2021,

Tim

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Legendary Liquidity Hunter
Indianoplace, IN
 
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TCCONDE View Post
It is when I learned to eliminate phrases like, "I heard...", "I think...", and "I read..." from my trading mindset that I really started to win.

Ain't it the truth.

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  #36 (permalink)
Coachella Valley, CA USA
 
 
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My father has been trading for a few years. Traded FX when it was more profitable, options, day trading stocks etc. He moved to trading futures about a year ago. Being temporarily displaced from work with the shut downs finally allowed me to sit down and learn.
After buying a new computer and monitors, was in need anyway and my way of restimulating the economy with my stimulus, I loaded up some programs and set up the metrics that he uses. He found out about the Combines, for me as he trades his own money, and we looked at what seemed the best fit and cost for me.
He is in NY and I am in CA so I would shadow trade....sort of...I'd be a little trade happy and take 4x the amount of trades that he did. But being a noob that proved a poor way of trading as he would usually profit much higher than me.
I'm still learning and back to work part time so we don't get as much screen time together as we did during the beginning but it's been good. Still working on the emotional trading vs sticking to my plan. I follow some FB groups and see how what I am taught coincides with other's methods.

There was another thread about the legitimacy of the combines, that I can't post on yet, but they are good for someone like me. No real capital to invest but a monthly fee won't keep food from my family. On the flip side, my father's friend decided to throw his whole Unemployment bulk payment at an account instead of the combine and wiped away more than 10k in just a few short months.

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  #37 (permalink)
Linz, Upper Austria
 
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I started in the beginning of my bank career to trade shares and option when i was 20 years old. To be honest, i didn't really know what i am doing.

I quit trading surprisingly without any loss in summary.


Years later, after two leading positions in my bank and being the youngest executive in the history of my bank i was diagnosed with burnout. After sick leave i quit my job, and decided to go to school again (technical school). But my main goal was to learn trading, to live from it and donate an amount of my profits.

3 years gone and i nether can live from it nor am able to donate parts of my profits - because there are none


I started like most of us... looking for indicators, strategies and trading-input from the internet - Paid for shitty courses, holy grail indicators and signal services. I was, and still am, really surprised how much fakers are out there.


But i never gave up and i never traded with real money. And that is something i'm really proud of.


Now i'm feeling that it is reachable to being profitable, just a small amount of time, but still quite a bit of erffort needed.

This is the first forum where i want to take part, and i'm really glad i found it and stick with it.


All the best for everyone of you in our joint adventure!

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  #38 (permalink)
Sumy, Ukraine
 
Experience: Beginner
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Can I post here if I didn't learn how to trade?
I got interested in markets after 2008 crisis.
Read tons of literature about economy including Adam Smith.
It was like a hobby.
Then got interested in investing. I was thinking maybe I could make some money in this business.
7-8% annually wasn't enough for me, I didn't have so much money to make a living from it.
So switched to swingtrading. Stocks was an option and I did pretty well. I used Linda Raschke style - daytrading + holding overnight.
1-3 days trades. But greed took place. Again it wasn't enough. So I switched to futures bc leverage much bigger.
Oh boy that was a mistake.
3 years and still struggling. Algo/Discretionary trades/Mechanical entries + discretionary - nothing works for me. Everything returns to mean line.
I think I should stick to stocks and I would be much happier now. Pretty bad.

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danville ca usa
 
 
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hi interstellerbeing... do you daytrade, swingtrade or longer term trade... do you trade the european session, usa session or both?

thanks
toucan



InterstellarBeing View Post
I started in the beginning of my bank career to trade shares and option when i was 20 years old. To be honest, i didn't really know what i am doing.

I quit trading surprisingly without any loss in summary.


Years later, after two leading positions in my bank and being the youngest executive in the history of my bank i was diagnosed with burnout. After sick leave i quit my job, and decided to go to school again (technical school). But my main goal was to learn trading, to live from it and donate an amount of my profits.

3 years gone and i nether can live from it nor am able to donate parts of my profits - because there are none


I started like most of us... looking for indicators, strategies and trading-input from the internet - Paid for shitty courses, holy grail indicators and signal services. I was, and still am, really surprised how much fakers are out there.


But i never gave up and i never traded with real money. And that is something i'm really proud of.


Now i'm feeling that it is reachable to being profitable, just a small amount of time, but still quite a bit of erffort needed.

This is the first forum where i want to take part, and i'm really glad i found it and stick with it.


All the best for everyone of you in our joint adventure!


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  #40 (permalink)
San Antonio, TX
 
 
Posts: 33 since May 2019
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AlexSobol View Post
Can I post here if I didn't learn how to trade?
I got interested in markets after 2008 crisis.
Read tons of literature about economy including Adam Smith.
It was like a hobby.
Then got interested in investing. I was thinking maybe I could make some money in this business.
7-8% annually wasn't enough for me, I didn't have so much money to make a living from it.
So switched to swingtrading. Stocks was an option and I did pretty well. I used Linda Raschke style - daytrading + holding overnight.
1-3 days trades. But greed took place. Again it wasn't enough. So I switched to futures bc leverage much bigger.
Oh boy that was a mistake.
3 years and still struggling. Algo/Discretionary trades/Mechanical entries + discretionary - nothing works for me. Everything returns to mean line.
I think I should stick to stocks and I would be much happier now. Pretty bad.


Alex,
It's good to read others stories like yours, as I have gotten my butt kicked by futures.

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  #41 (permalink)
Legendary Systematic Algo Trader
Somewhere, Delawhere, USA
 
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mtzimmer1 View Post
My journey started with watching my dad manage my Roth IRA as the custodian. While he was always willing to teach, as a teenager I felt that investing/long-term trading was incredibly boring.

Very interesting journey, thanks for sharing! I find what your dad did very interesting, mainly because:
  1. I manage my children's college accounts (Coverdale)
  2. Like your dad, I plan to open Roth IRA's for them in the near future, even though they aren't even teens yet; I can only imagine what their retirement accounts will look like in 45 years.
Your dad sounds like a smart guy.

~vmodus

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Legendary Systematic Algo Trader
Somewhere, Delawhere, USA
 
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redbarntrades View Post
Sounds to me like we have a similar pair of glasses on. Yep, my little wifey and I have spent 3.5 years @ 60-70 hours a week staring at charts, watching trading/psychology videos. Since we don't have mentors and have no intention of paying some huge fee for training, we have taken our own path.

It is very cool that you and your wife trade together. My wife and I trade together too, albeit a bit differently than you and yours. I hope that you find the "whole is greater than the sum of it's parts", as we do.

~vmodus

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Kalispell=Mt./USA
 
 
Posts: 30 since Sep 2019
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vmodus View Post
It is very cool that you and your wife trade together. My wife and I trade together too, albeit a bit differently than you and yours. I hope that you find the "whole is greater than the sum of it's parts", as we do.

Thanks! Yes, it's great that we are running this "business" together. I had a building business for 35 years, so establishing and running a business is nothing new. My wife and I are focused on the same things. I believe that it is harder to give 100% to something if a spouse is not behind you. Every couple has their own dynamic, but for us, we understand the focus that each of us has and are not irritated the the other is spending so much time in pursuit of success.

Best regards to you and yours!

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danville ca usa
 
 
Posts: 7 since Aug 2015
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redbarrtrades... wow... nice area to live. i'm in california, but was born in lewiston and we went to spokane a lot, but never to where you live.

cheers
toucan



redbarntrades View Post
Thanks! Yes, it's great that we are running this "business" together. I had a building business for 35 years, so establishing and running a business is nothing new. My wife and I are focused on the same things. I believe that it is harder to give 100% to something if a spouse is not behind you. Every couple has their own dynamic, but for us, we understand the focus that each of us has and are not irritated the the other is spending so much time in pursuit of success.

Best regards to you and yours!


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  #45 (permalink)
Kalispell=Mt./USA
 
 
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toucan94506bm View Post
redbarrtrades... wow... nice area to live. i'm in california, but was born in lewiston and we went to spokane a lot, but never to where you live.

cheers
toucan

Thanks! Yep, it's quite beautiful here. Water is clean. Lakes are big. Mountains are majestic. Air is great.

Lewiston has its good points. The Snake river. Friends moved to Peck. Some pretty spots over there. I used to take my motorcycle and head up to Lolo Hot Springs when I lived it North Central Wa.

Had to get out of there (NCW). Got too crowded for my taste.

I do love the Redwoods on Norther Ca.

When time and money permit, you should come for a visit or better yet move here. Lots of room.

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  #46 (permalink)
Danbury, CT
 
 
Posts: 4 since Mar 2020
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simple enough question,

let me see how complicated I can make the answer....


from other floor traders.....

and from some top institutional types also....

although that being the case, it doesn't infer or convey advantage....

trading exposes you to YOU! It is one of (just in case there are other....), it is one of the toughest endeavors you will ever engage in secularly as you are directly envolved and emotionally envolved and directly effected (after the fact) by the results. See the common thread in that statement that has been made, by so many trading coaches, in other words and phrases?

yes, the common thread is the "You", in the equation.

learn to control him, her or that other guy and you're well on your way.....


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