Where do I start from?

everything that doesn't belong elsewhere cometh here

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athan00
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Postby athan00 » Sun Nov 07, 2010 10:47 pm

Ok thats good to hear. I found it in elitetrader forum (if i m not wrong).

Ok I ll start reading. Hope I ll see positive results this time. I m near to quit trading... I m really tired of trying to find the right and correct way out in trading. I have made a huge list of what I should study, from foundamental analysis to ebooks specialized for MM, psychology, technical analysis, fibs etc

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es/pip
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Postby es/pip » Mon Nov 08, 2010 12:38 am

athan00 wrote:Ok thats good to hear. I found it in elitetrader forum (if i m not wrong).

Ok I ll start reading. Hope I ll see positive results this time. I m near to quit trading... I m really tired of trying to find the right and correct way out in trading. I have made a huge list of what I should study, from foundamental analysis to ebooks specialized for MM, psychology, technical analysis, fibs etc


i am telling you, and this will save you years of lost time

toss your list and just watch the charts and read the threads here at kreslik

you can read the stuff on MM and psych, but toss the other stuff.
Bend over and assume the position for another 4 years of hope and change.

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TygerKrane
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Postby TygerKrane » Mon Nov 08, 2010 1:18 am

ajaymein wrote:
TygerKrane wrote:athan00,
How did you find out about the mighty, mighty kreslik.com ?

Other than that, one other important point to take note of is that I am about to be the next trader to make it big here 8)


Wanna race? ;-)

Hell yeah my dude!!

Let's just try not to crash & burn and blow out too many accounts in the process!! :shock: :P

Agreed? :twisted:

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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TygerKrane
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Postby TygerKrane » Mon Nov 08, 2010 1:22 am

tmanbone wrote:Feel free to speak your mind here. The only cardinal sin is posting TRO's indies on another forum. Welcome to the jungle.

athan00,
Also, don't go off-topic when you post in the DRAIN THE BANKS - LIKE A RAT thread :!:


and you must [highlight=red]NEVER, EVER[/highlight] speak the name Sig...Ben... or Term...Ind...

LOL :P :lol:
{you might not understand yet, but the kreslik regulars know what I'm talking about}

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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trueblueTEX
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Postby trueblueTEX » Mon Nov 08, 2010 1:48 am

TygerKrane wrote:...and you must [highlight=red]NEVER, EVER[/highlight] speak the name Sig...Ben... or Term...Ind...

LOL :P :lol:
{you might not understand yet, but the kreslik regulars know what I'm talking about}


LOL or Traitor7!!

Laugh_Smile Laugh_Smile Laugh_Smile

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TygerKrane
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Postby TygerKrane » Mon Nov 08, 2010 1:50 am

=D>

wow, that's awesome TEX

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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tmanbone
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Postby tmanbone » Mon Nov 08, 2010 2:00 am

Terminal Instigator. lol
"The simplicity of the markets is it's greatest disguise"

T

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ajaymein
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Postby ajaymein » Mon Nov 08, 2010 2:09 am

TygerKrane wrote:
ajaymein wrote:
TygerKrane wrote:athan00,
How did you find out about the mighty, mighty kreslik.com ?

Other than that, one other important point to take note of is that I am about to be the next trader to make it big here 8)


Wanna race? ;-)

Hell yeah my dude!!

Let's just try not to crash & burn and blow out too many accounts in the process!! :shock: :P

Agreed? :twisted:


Err...too late!

Crash and Burn ---> CHECK
Blow out too many accounts ----> CHECK CHECK CHECK CHECK CHECK

And now to the brighter side of things...the GREEEN CHEESE $$$$$$$$$$$$ Dolar_Smile Dolar_Smile Dolar_Smile Dolar_Smile Dolar_Smile

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MightyOne
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Postby MightyOne » Mon Nov 08, 2010 6:47 am

It is easier to start at the yearly chart when teaching new people.

I always start (when talking to someone in person) by saying something like...

Price will move a good thousand pips from the yearly open price and even further from an extreme. Where will you be when price moves a thousand pips?

If you can figure out how to get from one end to the other on a long term chart then the short term charts will be a piece of cake.

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adaseb
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Postby adaseb » Mon Nov 08, 2010 8:12 am

Another thing to consider is this.

In trading there are endless amount of opportunities to trade however only a limited few are worth taking.

For example. I have about 3 or 4 opportunities every month where I get REALLY aggressive on my positions. These type of trades are ultra rare however have a fair winning percentage and unbelievable 1 in 15 risk/reward.

Daily there are more opportunities however sometimes they take hours to appear. And its very important to stare at the charts constantly because there were a few times where I was taking a s**t and an opportunity popped up that I missed. I consider that a loss in my books (unless the missed trade was a loser). Why? because if I did take the trade and my next trade was a loss, I should be at break even, however after missing that winner, I am at a loss. Make sense?

Too many new traders, just can't wait to trade and somehow manage to find a trade every minute. Many new traders just want to turn on the computer, find a trade immediately and take a profit of 20 pips immediately and call it a day, it doesn't work like it.

There are many many good opportunities in the day, but you just have to wait for them, and that's where patience plays an important role in trading.

If you been waiting all day and nothing comes up, what do you do? Trade anyways or keep waiting? If your the latter, you will succeed in trading if your the former you will join the endless list of unprofitable traders.

That's why if you have a day job and a busy lifestyle and are available to the markets during certain hours, you're at a disadvantage and are better off trading the daily/weekly charts. Because your emotions are going to make you jump into trades that you shouldn't be in.

Hope this makes sense.

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