Veterans, newbies and everyone in the middle: If you could just give one piece of advice based on your experience as a trader, what would it be? And, most importantly... why? Thank you.
Veterans, newbies and everyone in the middle: If you could just give one piece of advice based on your experience as a trader, what would it be? And, most importantly... why? Thank you.
Once inside, there is no way out, but if you analyze pros and cons well, the effort is not worth it. Imagine being so good that every hour outside the chart makes you lose money. Your wife, for whom you did everything, divorces and takes the children away. Your health goes to waste, but you continue because you are part of 1%. It�s crazy. The time investment is BRUTAL. And even if you invest 11 years of your only life, you probably don�t make a penny. There are many other ways to make a living. But as I tell you, once you come in... there�s no going back. And it wouldn�t change anything. Time doesn�t hide anything.
Learn from professionals. Men who can be right and wait, are very scarce. ~ Jesse Livermore
I read your Trading thread as I know it, it gave me the creeps... is everything okay now?
Thank you, Michisuperfr.
Read the classics. Many of the best ideas are born from ancient lessons.
Don't try to guess, the funniest thing is no one takes me seriously.
Spend your time learning about the order flow. That's where everything comes from. It's not easy or fast, but your experience will be very different from Cindy XX's. The flow of orders creates the price. The price generates benefits. Ignore the fashions of miraculous indicators. Learn how the market works from the base: the orders. Design a sensible plan to take advantage of that flow. Write it down and have it at hand. Follow it to the letter. And if you're still lost in five years, go back and read this message.
Analyze your losses (there is no other way
That's what a rookie says... well this too: the Earth is flat and the sun revolves around it...
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