Like so many traders my journey to consistency has been a long and expensive path. If 95% of new traders wash out, the soul reason is not that trading is the hardest activity that any human can undertake. A large part of the "wash out " problem is the lack of quality education and mentoring. It is extremely hard for a new trader to sift through the snake oil salesmen trying to pick his pocket and find real help. Big Mike's is one of the few honest resources that I found.
It looks like Dr. Handley at the web site linked below has done a lot to sift through the junk and the marginal to find the chat rooms with real content and real trading accountability. I don't know that his work is the last word on the subject, but it sure is a good start.
I would like to know if anyone else has links to sources for OBJECTIVE analysis of various chat rooms or trading training programs. I think it would be grand if we could steer new traders to multiple sources to find real help and avoid the many pitfalls of "secret" systems, indicators, trade signals, etc.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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