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#Post#: 349--------------------------------------------------
Re: Education by ****r
DIR By: Naked trader Gamber
Date: March 26, 2015, 10:50 pm
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I guess, specifically, this was the post that I disagree with.
The first problem is NOT to overcome emotions. First thing first
is to sit beside a successful trader and watch him trade.
Actually, by sitting next to a successful trader, you'll
probably also be learning how to handle emotions as well.... so
basically Kill 2 birds with 1 stone.
I wouldn't seek help from an arm chair professor right off the
start, because that's all he does, sit on an arm chair, he's not
actually trading. That would probably be something I would do if
I was already way ahead in my game (e.g. I'm making like 200k a
year consistently and I really want to break the plateau and
make 1 million a year).
Maybe I'm not really understanding your post, but this that I
thought you mean. Correct me if i'm wrong.
Cheers!
The problem is that we look at it through our experience.
I spent 6 years to educate myself. Two times I quit even I did
not start to trade. I did not believe I can make it.
One time it was for year, another half a year. Then one day I
realized I'm ready. I made profit for that year. It's my second
year. My goal for this year to learn but make money. I'll finish
this year with profit but my point is to learn.
Your experience(I'm guessing) went through a lot of
psychological pain and losses. You believed that it had
something to do with Karma at some point.
To sum it up. Whatever works for you you should apply it. The
goal is to be profitable.
I actually wrote my education process for beginners. They fail
on emotions and fears. I'm pretty confident at that.
#Post#: 350--------------------------------------------------
Re: Education by ****r
DIR By: fxvictory
Date: March 26, 2015, 10:51 pm
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I guess, specifically, this was the post that I disagree with.
The first problem is NOT to overcome emotions. First thing first
is to sit beside a successful trader and watch him trade.
Actually, by sitting next to a successful trader, you'll
probably also be learning how to handle emotions as well.... so
basically Kill 2 birds with 1 stone.
I wouldn't seek help from an arm chair professor right off the
start, because that's all he does, sit on an arm chair, he's not
actually trading. That would probably be something I would do if
I was already way ahead in my game (e.g. I'm making like 200k a
year consistently and I really want to break the plateau and
make 1 million a year).
Maybe I'm not really understanding your post, but this that I
thought you mean. Correct me if i'm wrong.
Cheers!
Seems like you really reckon sitting next to a successful trader
is the way to go. In theory you will learn how he trade, which
includes execution, trading system, money management, psychology
and every other key characteristics a successful trade suppose
to possess. But there is a few problems here. 1) successful
traders are rare animals, it's hard to find one and it's harder
to get one to coach you one on one. 2)good traders may not be
good teachers, they know how to trade profitably but may not be
efficient in delivering every bits of their thoughts to you.
They recognise good set-ups in the market only because they
accumulated vast screen time, they can tell you the reason why
they think it's good but do you think you can apply it when the
situation comes? doubt it. 3)trading is a career of lone wolf,
you can bump ideas from other but what you can learn from others
is extremely limited. Do you think successful traders achieve
what they had achieved because they learnt it off another
successful trader? At the end of the day, all the real
successful traders are all coaches of themselves.
Of course you need the knowledge of market, you need to know
what a candlestick means or how MACD or RSI is formulated or how
to place an order, but they are the very basic fundamental
basics that you supposed to know when you come in to the trading
industry. They are rock solid facts easily learnt. On the other
hand psychology is the game of next level. If you think about
it, trading is all based on your decisions and your brain is the
one that make decisions, hence whatever happening there without
a doubt is important.
That being said, it varies depending on different people's
circumstances and what stage of trading are they currently in,
if you are rather novice, yeah sure you will probably learn more
sitting next to a "successful" trader rather than diving
yourself into the trading psychology.
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