Registered User
Joined: 6/30/2007
Posts: 8
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Hi,
I'm totally new to stock trading. My wife suggested I check out your products. Certainly the learning curve depends on the time put in, dedication, and the ability to comprehend and put to use what you're teaching.
In general, what series of courses do you recommend completing, and how long does it take to go thru those courses and understand them, before applying that information in paper trades, then later as small real trades, then full trades?
And what is the overall cost involved: courses + trading platform + any Internet signals + trading fees and commissions + ??? ?
Finally, what is the success rate of your students, i.e. how many continue actively trading with your program after 6 months? How many move onto full-time trading for a living?
Thanks,
Mike
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Registered User
Joined: 10/7/2004
Posts: 79
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Hi Mike,
I'm sure a few of us remember being where you are. More than a few people have looked at the thread here, but no one has responded yet.
If this forum were not so exceedingly limited in its available functions I would be able to send you a private message or e-mail. If you have a non-primary e-mail address you want to post here, I'll shoot you an e-mail and answer your questions at length.
Cheers,
-Brett
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Registered User
Joined: 6/30/2007
Posts: 8
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Hi Brett,
Thanks for responding. I appreciate your offer. You can email me at (email removed by Moderator). The 'at' and surrounding spaces are of course removed, as is the space between (email removed by Moderator) All done to prevent crawlers from reading the address - a lesson learned the hard way. 
Mike
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Everyone is welcome to share their advice here but private contact information cannot be shared on these boards.
- Craig
Here to Help!
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Registered User
Joined: 6/30/2007
Posts: 8
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Thanks, Craig. Sorry about the mistake.
Mike
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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No problem!
I will move this to the Market Talk forum so others can offer their thoughts. I think you will find the community here very generous!
- Craig
Here to Help!
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Mariner51: In the context of this website I suggest that you start here -
http://www.worden.com/training/default.aspx?g=topics&f=2
Watch every tutorial until you understand its contents. then start browsing some old threads here on this forum -
http://www.worden.com/training/default.aspx?g=topics&f=25
After all that start looking at some charts and ask us all some questions. We will be glad to help.
Good luck to you..
Tommy21
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Registered User
Joined: 10/7/2004
Posts: 79
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Ah yes - one thing I forgot to mention as an educational resource is the forums themselves.
My bad regarding posting contact info. How do we go about contacting one another for private dialogue?
I'm not trying to recruit Mike for the CIA or anything, but I thought posting a mile-long response referencing several products and services which are not Worden would be frowned upon.
Sharing my personal views with one person is ok, but I may have to begin charging fees if it would be available to just anyone who signed on here.  lol
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Registered User
Joined: 4/18/2005
Posts: 4,090
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Well, I took the The technitrader courses and while I'm about to graduate myself out of them... I felt like they are an excelent bang for the buck in terms of learning to trade proffitably. I cut it short and went live in three months .. ended my first two years proffitably. At some point .... particularily if you frequent these forums you'll probably "move on". google them and they will come up. The basic methodology course is all I would recomend... If you wanted later to go for the position trading course then you could.
Generaly speaking I would say papertrade for at least 6 months if not longer. The thing is you probably want to experience at the verry least the three major market conditions.. up, down, and sidewasye. But beyond that underlying elements can change the characteristics of those conditions. Some markets are just "easier" than others that on the surface apear similar.
Baring (or in addition to) I would suggest watching all the tutorial videoas here, buy the don worden videos on TSV and Moneystream... they are golden for the beginner TA. I Havent seen the ones on Don's nightly rutiene but I would imagine it is as good as "uncovering resiliant stocks in todays market", "Interpreting moneystream" "Intrepreting Time Segmented volume" which are all very good and I found very enlightening. The concepts of reading these indicators apply to other indicators of the similar type.
Don's "street smart charting" is a good series and is an excelent place to start with out getting bogged down in allot of archaeic theory. Several of Elders books are very good. Trading for a living, and "Entries and Exits". There are tons of book on this topic so get them through your library (use the intra library loan program) to decide which books you want to buy.
Most brokers have papertrading accounts. I use Interactive brokers becasue they are dirt cheap, i can trade ANYTHING there, stocks, futures, currencies, options, whatever in what ever currency I choose. They give awesome order types for no extra charge. Before that I used Mytrack for the papertrading account. Mytrack charges like $4.00 a month. IB dosen't charge if you fund an accout with them. If you prefer a more simple aproach and longer hold times then Scott trade or ameritrade may be fine for you. I like the $1.00 trade verses $7.00 trades at Scott trade. There are benefits to both.
In terms of overall cost involved... I paid $1000 for the initial training, Charting services here (check for specials and buy a year or more at a time) $400.00. I would suggest a way to track your trades. I use excell(stick fingers version  )but there is also quicken and others. I started with Tradelog which does your taxes for you as well.
Consider now your tax filing for trading now. If you plan to invest then there isn't much to wory about... but try to hold longer and pick more solid stuff. If you are going to be agressive consider mark to market. I had over 800 transactions last year (to many)and as such have chosen the mark to market method for taxes. As far as comisions those add up as you go. I think I paid $820.00 last year (some trades are a bit more than $1.00 with IB) for 800 transactions. That is dirt cheap. The big thing is that a low comission lowers the distance a stock must travel to be proffitable. this allows you the luxury to jump ship at the first sign of trouble. Larger fees will eat you alive an force you to hold longer.. maybee holding a dud (you'll quickly learn that it only takes one stock to kill your proffits from 8 others).
I would also suggest reading the nightly worden reports... at least in the beginning. Understand that noone is omnitient, or can tell what is gong to happen. I Generaly dont read them anymore...but I do read the nightly notes on the charts still ... helps in learning to read charts better.
So to recap. Start with learning to read charts and to enter orders.. do it in paper an make as many mistakes as you want at first... then start gettign mroe serious with it and finaly switch. I prefer using a papertrader that mirrors your actual tradng platform. Typos can still happen but if you hammer out a smooth system on paper and the system is the same live there will be fewer of that sort of thing.
Watch all the training videos on this site:
http://www.worden.com/training/default.aspx?g=topics&f=2 and take notes. Play with idicators and find those that you like. The worden knowledge base is phenominal for this.
then begin to explore or develop a money management system (probably more imortant than chart reading)that goes han in hand with your order entry pholosophy. Ex: I enter above the previous high slightl to ensure buying strength and momentum. Some times this works agains me. Some gusy enter below the close trying to get a better entry on value theories... or buying weakness. they both probably work... find what works for you.
Hope this helps.
Scott
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Registered User
Joined: 12/21/2004
Posts: 902
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For good just basic stuff about the market - there's a good course on the IBD website. Be aware that there's 2 kinds of stock analysis - fundamental analysis where you study the financials of a company and try and match up what it's stock price is with what you (or the experts) think it should be - and technical - which is all about the charts and patterns and indicators and making educated guesses where the price will move next depended upon where it's been (many of us who are technicians have absolutely no idea about the company behind the stock, nor do we care).
If you're going to use something like Telechart, it is mostly geared toward technical analysis (which is actually I lot of fun, IMO). Read up on everything that you can - get some exposure to what the fundamental analysis stuff is all about, but concentrate on the basics of technical, so that you can make full use of telechart and what we mostly talk about on here.
I read like a demon for several months - many stock-oriented website do have information for beginners, and some of them make a point to provide "lessons" - both canned on a portion on their site, but also on a daily, weekly or otherwise regular basis (one reason why I like IBD - they really do try and educate).
I think I did nothing but read for 3-4 months, played on paper for another couple of months before I started actually trading. And it took well over a year before I felt really comfortable. Some people just paper trade for a year - and believe me, the difference between paper trading and the real thing is enormous. You really find out a lot about your own psychological profile once you're playing for real. I taught myself using on-line resources and books. I don't see spending money on courses when there's so much free info easily available.
I don't use any other "tools" besides Telechart (I also do have an online subscription to IBD - but that isn't necessary). Find an on-line broker with cheap transaction fees. You have to pay fees to enter and fees to exit - so a big part of the game is keeping your transaction fees to a minimum. For example - I have an Ameritrade account that charges 9.99 per trade. If I'm doing a trade for $1000, that means $20, right off the top - 2% - is already going to be taken up in transaction fees. So a 10% gain on a trade is really only $8. The lesson is, the lower the stakes when you start out, the higher the % that goes for fees and you have to factor that it - shop around to find the lowest fees possible.
For a technical trader, such as myself, the Telechart program is incredibly rich. I've been using it for about 4-5 years now and still learn new stuff all the time. Many of the posters on here will agree, I think. It'll work for the most basic user who relies on very simple indicators such as moving averages, all the way to some very complex theoretical applications and everything in between. One of the best features, something that a new trader should use is the slideslow feature - which makes it easy to sort and view large amounts of charts in a small period of time. A lot of technical analysis is chart patterns, and learn to look for what constitutes a good chart pattern. You will eventually end up looking at thousands and thousands (literally) of charts - a lot are worthless but you will learn to find and pick out the good ones.
One last thing - there are several different styles of trading - some people are day traders, some long term investors, some swing traders, some bottom feeders, some trend followers, etc., etc. Everyone has a different style that they are comfortable trading - and you will see evidences of those different styles in the different posters on here. In that sense, there is no one way to be a successful trader as there are many different ways to success. As you are starting out, and learning about all the different ways, keep that in mind, and keep an eye towards learning and developing your own personal style.
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Registered User
Joined: 4/18/2005
Posts: 4,090
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Ho handy has an excellent point reguarding fundamentals. infact I have a minimum fundamental check list I need from stocks that I intend to hold for more than a few days. The trader invester can definately use charts as a way to find good candidates for fundamental analysis. Chart reading is an art and science and requires a bit of finesse. IN the beginning you can use a basic set uf fundamentals to help steer you into safe waters... and charts to lead you to those stocks. Used hand in hand they create a powerful combination... and the stronger a chart reader you are the less fundamentals you need. I personaly HATE reading financial reports and asume that people far brighter than I have done that and come to a decision on the stock... my job is to use technicals to determine their decision. If its ambiguous just move on... there are over 7000 of them. Something will be clear.
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Registered User
Joined: 4/18/2005
Posts: 4,090
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"I don't see spending money on courses when there's so much free info easily available."
This is true also... but for me I felt the time was better spent learning to trade to know what basic mistakes not to make.. and there was to much free niformation .. much of it contradictory and confusing. For me the training paid for it's self. But again that is up to you.
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 Gold Customer
Joined: 11/11/2006
Posts: 359
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Mariner51:
Suggested reading:
"Technical Analysis of the Financial Markets"
John J. Murphy
"Come into My Trading Room"
Alexander Elder
"Reminiscences of a Stock Operator"**
Edwin Lefevre
"Timing the Stock Market"
Colin Alexander (Any of Streetsmart" books)
"The Master Swing Trader"
Alan S. Farley
All of the books by William J. O'neil and a Candlestick book or two....
Good Luck
Mammon
** Perhaps the most quoted book on trading.
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Registered User
Joined: 10/7/2004
Posts: 2,126
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First of all - ask yourself
-WHY are you here?
-WHAT are your Objectives?
-HOW do you plan to achieve your objecives?
-WHEN do you think you will be ready to do achieve them?
-WHERE are you going to do this?
Seminars..., courses..., Classes..., bla, bla and bla. Just ask those folks how many are making money. The answers are within yourself. If you lie to yourself - you well know what will happen.
The most important thing to make money in the markets is to know yourself, and accept who you are. That includes the extremelly strong possibilities that you are not cut for it and accepting that. If that is the case and you lie to yourselve it is going to be expensive and damaging to you and the ones surrounding you. As I hear you have a wife, I assume a family. Ask yourself very carefully before you jump in. Trading is a loners game.
If all the above is cleared out of the way, and you really think you have what it takes to really make money in the markets, then go for it. I wish you good luck.
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Registered User
Joined: 4/18/2005
Posts: 4,090
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"Trading is a loners game" This can be taken many ways. I have a family ... my wife used to trade with me.. "we" are still togeather.....But i'm a loner in that I work alone. If I don't work then there is not income on my part... sometimes there is still not. I get lonely because I have no coworkers? does that count?
don't be mislead by bigblocks insightful contribution... I believe that anyone can learn to trade and invest... If I can do it you can. Some people may take longer to find their niche and there will be "bumps" along the way and that is to be expected. I found that the harder I tried the harder it was to nail down proffits consistantly.
Bigblock, how can you expect a complete beginner to know where to begin to answer those questions. This is just silly to expect the guy who is just getting started to even begin to know where to start to answer those questions senseibly ? If you scare all your clients like this it explains why you fish here for them.
mariner51: Fact... some of the best trders of all time have zero college, the best tend to fairly quiet soft spoken individuals. Many of them are nowhere near wallstreet. many of them come from backgrounds that you would never expect. There are dozzens of ways to sucessfully aproach the market place.
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Registered User
Joined: 10/7/2004
Posts: 2,126
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Dear Scottnlena, I am not sure if I said this before, but I will repeat. I DO NOT COME HERE TO FIND ANY CUSTOMERS, I COME HERE TO HELP. Do you see me advertising anything here?
With that out of the way, the reality is that you will not know for sure until you play the game. Paper trade?? forget that. Not until your fear and greed are really at work you will not know. Your money must be on the line. The more money the more you will know about yourself. Those trading a $5000 account, I have to laught when they say I am a trader. Would your fear of losing 500,000 the same as losing 5,000 - certainly not. Would your greed change if you could make 500,000 instead of 5,000
Your fear and greed are a direct function of the risk / reward ratios.
With that said, most adults have experienced fear and greed at some point in their life - They should have some clues.
Now the mechanics of the market are fairly easy and straight up. A simple well rounded book could teach you the basics - the rest without hands on experience is like teaching some one how to do calculus integration without hands on experience. What good is it going to do?
You could read a thousand books about how to swim, and yet you will not learn how to swim until you jump in the water. Many never learn how to swing, even when instructed, and many drawn as a consequence.
Now you can take as many courses as you want, that is entirely up to you.
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Registered User
Joined: 9/21/2005
Posts: 566
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A lot of good tips and advice on these boards.
Mariner, here is some input from a seasoned newbie. At least that is how I consider myself. I trade for real now but still paper trade as well and have been doing this analysis and study for a solid 10 months now. You heard right, day in and day out for 10 months. I have spent coutless hours designing and testing and throwing away trading approaches and strategies. Just as an FYI, in years past I thought I could do well by buying other people's systems, but it only bought me grief. Anyone who says trading is easy is wrong. It's very hard and the market will gladly take all your money without mercy. You should always have a healthy respect for the challenge.
Here is what I would suggest you consider. Don't even paper trade until you educate yourself. Read as many books as you can stomach. Use the free tools on telechart and ask people in these rooms for help and tips. A lot of smart folks are here and they will help you. I would spend at least 2-3 months on education. That may sound boring but it beats losing money. After you do that, try to ID a trading method that works for you. If you dont want to trade intra-day focus on end of day approaches. Then you can consider paper trading until you have proven your system works. I would want at least 2-3 months of proven (forward-tested) results before I would risk a dime. If you can reach that, then consider risking just enough money so you will notice it if it goes away but not so much that it will cause any long-term grief. Just enough to get your attention. If that type of trading goes well for at least another 2-3 months, than consider something more meaningful.
Always remember that most people who try trading fail. The odds are not good, so you should approach it seriously and be prepared to invest a lot of your time and energy into it, if you are serious about making it a business and not just a diversion. These are my thoughts and they stem from the long, hard journey not having followed my own adivce!
Here
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Registered User
Joined: 4/18/2005
Posts: 4,090
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you are right bigblock, it's been a while since you fished here for clients. But I don't see how you'r statements are helpful. Would you throw a child into the deep end of the pool on the first day of swiming lessons and say "sink or swim! If you sink (and survive) it's ok, we'll try horseback riding"! . . ? ?
It's the same thing. A complete beginer who jumps in and starts trading real money has high probabilities of loosing allot. I took training andpapertraded and I ended my first two years in proffit. I had a roomate in the late 90's who was in his early 30's. He was talkig about retiring and trading for a living. He is still working. If a person could just jump in and swim making$80K thier first year, why couldn't they continue to swim? Maybee they were underprepared and were trading an easy market ? I never got the figure but his losses were significant.
the market is alwayse awash with newbies who come in and try and wash out. The pros make allot of money from them, so any type of preparation is discouraged by those pros. Look the market place is full of brilliant people that are after my money... i'm not going to make it easy for them !
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Registered User
Joined: 4/18/2005
Posts: 4,090
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The point is ... the bulk of our work is in finding transactions where the probabilities aer on our side... why wouldn't take that extra step and prepare ourselves thoroughly.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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One point I will give to Bigblock here is that you have to trade without emotion. During the days (many centuries ago) that I was losing more than winning, I was almost forced to give up trading (my capital base was running close to the edge). I had to step back and evaluate my situation. After long analysis of my trading history, I came to the conclusion that emotions (greed, fear) were the cause of my problems. I paper traded without regard to these stumbling blocks. (Yes I know that it is easy to trade without emotion when there is no real money on the line), but I already had good analysis skills in place and my paper trading was very successful.
Of course I started trading with real money again and to this day I am able to control my greed and fear, with confidence in my analysis abilities, risk vs reward and good money management skills. Most importantly you need to manage the trade (entry and exit).
Every trader has his or her own story to tell and there is no template to follow that will make you successful. You will develop your own style and you will lose some money in your struggle to create that style so do not put all of your eggs in one basket and never give up.
(IMO)
Tommy21.
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Registered User
Joined: 10/7/2004
Posts: 2,126
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A human is not without emotions - those who said otherwise must be kidding themselves.
Greed and Fear are natural human emotions, and are there for a reason. When it comes to trading the problem is that folks don't know how to listen to them.
Learn how to listen to them, and you have half of the game in your hand.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Bigblock you are a funny guy, You respond as though you are worshiped and that your sentences should be carved into stone. Must you always bandy words? Of course there is no way to eliminate all emotions from ones trading. After all like you said, “we are only humane” I did state that we should trade without emotions and then latter I also state that I have learned to keep my greed and fear under control. (I could have stated my first sentence a little different)
You appear to be at odds with quite a few on this forum. Most traders that have found success in the market are humble about it, but that is not your way is it. I hope that this thread does not get locked or deleted because there is some useful information here and I am done. I am not saying that you need to sugar coat every thing that you say but your opinions are just that your opinions and they carry no more weight than anyone else that post here..
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Have a happy Independence Day every one... 
Tommy21
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Registered User
Joined: 9/21/2005
Posts: 566
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Amen to that. Let's all give a moment of thanks that we live in the greatest country in the world.
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Registered User
Joined: 12/7/2004
Posts: 393
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Mariner51, I suggest you put your money in short term CD's until you find a friend who will extensively tutor you about investing vs trading. About 90% of all mutual funds fail to beat the S+P500 index. This is not an easy business. Heed Big Blocks warnings. 
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Registered User
Joined: 9/22/2005
Posts: 849
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You guys need to get off Bigblocks case.
You know that you all have answered the questions he posed in one way or another and you know that any one new to trading must answer them eventually, then he might as well begin early in his career.
And you all know that you can not completely eliminate the fear and greed. What you have done is to recognize that they are there and push them into the background so that they don’t paralyze you and keep you from acting.
You experienced traders and investors have all given good advice which would beneficial to any one at any level of experience. But I believe that you have forgotten the trepidation with which you faced your first trade
In my opinion, a beginning trader should begin paper trading as soon as he decides that he might want to enter the game. This way he can begin to make mistakes early and learn from them that this is not a good thing to do and search for another way. In this fashion he can begin to develop his own personal style.
I am a newbie whose experience fits between that of Mariners5 and jcfla7. I am far from being a seasoned trader but I also am not a total novice. This a situation which can only be cured by experience.
Every time I consider a trade there is a bit of fear that says “Is this a good stock to buy?” “What if I buy it now and the price goes down?” “Did I do the analysis correctly? “ Then greed steps in with “If you don’t buy it now you’ll miss out on a good profit.” “You better not wait.” My answer has to be “I’ve done the best I can and either enter the trade or pass it by. Then after I buy I experience the same problem every time I look at the chart.. Should I keep it a while longer or close it out now And after I pass up a possible buy I can look at the huge increase in price and greed says “See I told you so.”
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Registered User
Joined: 10/7/2004
Posts: 426
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1. Trading is like counting cards in black jack. You get the money out ONLY when you believe the situation is in your favor.
2. Every trade is a guess.
3. Learn what to guess "AT"
4. Be disciplined about taking risk and exercising stops.
5. Simplify your thinking. Then, when you've simplified all you can, simplify again! K.I.S.S.
The #1 factor in overall success is stop discipline. You must get that right away. If you don't, you'll not survive long enough to get the rest of it.
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Registered User
Joined: 10/7/2004
Posts: 2,126
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Ok folks I just don't get it. This is doesn't have to be as complex as some folks makes it to be.
Again I will say - It is you what makes the market. So if you can't control or don't know how to listen to your fear and greed what to do?
Think real hard about it and tell me how you would deal with this; Tell me how you would correct this impossible situation; Tell me how you would stick it to the middle man (MM).
I will come back and tell you how the problem can be solved after I hear your comments.
good luck.
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Registered User
Joined: 12/21/2004
Posts: 902
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In terms of this thread - I think we can all agree that there are 3 different kinds of things to be learned that someone starting new has to face:
1) the actual mechanics and analysis of the market and trading. This can be done by book-learning, attending classes, reading on-line lessons, etc.
2) the use of this particular piece of analytical software. Unless you know what you're doing or looking for, using something like Telechart would be a waste. However once you know what you're looking for it is an incredible analytical tool
3) your own psychology. How discplined are you? How do you react to the emotion of having your money on the line during this particular type of fast-moving stressful condition? How adaptable are you to learning from your mistakes and making changes according to market conditions? Everybody is different, I don't think anyone really knows about themselves until they are actually in the situation.
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Registered User
Joined: 4/18/2005
Posts: 4,090
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Every time I consider a trade there is a bit of fear that says “Is this a good stock to buy?” “What if I buy it now and the price goes down?” “Did I do the analysis correctly? “ Then greed steps in with “If you don’t buy it now you’ll miss out on a good profit.” “You better not wait.” My answer has to be “I’ve done the best I can and either enter the trade or pass it by. Then after I buy I experience the same problem every time I look at the chart.. Should I keep it a while longer or close it out now And after I pass up a possible buy I can look at the huge increase in price and greed says “See I told you so.”
Isn't that trading ? ? you never realy know. When it dosent work out and ou jump ship you feel great. Or better yet you decide to take a proffit for what ever little reason... think I shoulda held it longer and then it gaps down. Then you feel like a genious. We make educated gueses... sometimes we are wrong and some times we are right...good management maximizes the best scenario and minimizes the worst scenario. It is allot like counting cards at black jack, and betting only when you think the odds are in your favor.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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The markets are driven in most part by big institutions (Large fund managers). These are the ones with most of the knowledge and most of the money. After them there are various other levels of investors/traders that also have more knowledge/money then the average investors (you and I). Of the (you and I's) only a very small percent of us know how the market works and are able to take advantage of it. (There might be some debate on just who has it right or not, but if you are successfully making money from the market and have been doing so for years, then despite what others might tell you, you have it right)
The other part of it is what seems to be the main topic on this thread right here, controlling ones emotions. Now of course I can only speak from my experience, so all my opinions will be based off that. They put training wheels on a bicycle to help the inexperienced Ryder to over-come their fear of falling and getting hurt. Once they gain confidence in their abilities to navigate then the wheels come off. At this point they are now exposed to the real dangers free from any support, but they now have confidence and some experience on their side so they are able to move forward and gain more experience.
Paper trading is like using training wheels. There is no harm in learning to over-come any road blocks that you come across in your trading by paper trading. It can be controlling your fear, greed, where to put stop losses, how to trade a new idea that you came up with. There is nothing wrong with paper trading. Professional traders still paper trade when they want to test a new theory.
I learned how to swim by the sink or swim method, my older brother thought it would be funny to see which I would do. Lucky for him and me I was able to swim. There is nothing wrong with this method either. So this should cut off short any personal debates about this. Both methods are fine and can work; it is just what you think is best for you. I know that some say paper trading, training classes, bla, bla,bla Just keep in mind that the response is only that of one person and should be regarded as such.
Training classes and some reading material should not all be taken as gospel but there is some useful material out there.
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Registered User
Joined: 1/28/2005
Posts: 6,049
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I think that what is called "emotion" in a trader. Most
of the time falls under the category of Ignorance,
Ego, and Bias.
If you try to learn as much as possible. Seek the
truth (not as easy as it sounds). Think with an open
mind. Realize you can and will be wrong. You will be
way ahead of most in the trading game.
Remember its not about being correct in every decision
you make. Its about making more when you are right
then what is lost when you are wrong.
Thanks
diceman
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Registered User
Joined: 10/7/2004
Posts: 2,126
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So I guess noone likes to think about what to do and how to level those two dear friends - Fear and Greed.
Ok duck! No pain no gain. I am sure it will be clearly discussed in the seminars.
good luck
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Registered User
Joined: 4/18/2005
Posts: 4,090
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has mariner51 been back or did we scare him away??
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Registered User
Joined: 12/7/2004
Posts: 393
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By now I think he's observed "different stroks for different folks". Hopefully his fears will help him choose wisely after alot of research.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Bigblock how much do you charge to haunt a house? 
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Registered User
Joined: 10/7/2004
Posts: 426
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Bigblock has already stated a few posts back that "I just don't get it". Give the guy a break. He's doing the best he can with what he's got to work with.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Bruce I promise that I will not make any personal attacks, so that you will not have to lock this thread.
Booker, I only speak for myself (although I am sure that I am not alone) I find his approach irritating. Give the guy a break. He's doing the best he can with what he's got to work with. Who has asked him to work with us. This is doesn't have to be as complex as some folks makes it to be. He speaks as if he knows how the market works and he will be kind enogh to share his thoughts with us after he reads our opinions first. When no one responds to him he throws a fit. So I guess noone likes to think about what to do and how to level those two dear friends - Fear and Greed.
Ok duck! No pain no gain. I am sure it will be clearly discussed in the seminars.
good luck He did the same thing in prevouse threads (one of wich was locked and deleted).
Booker, I mean you no disrespect but maybe some of us successfull traders do not see the market the way he does. He talks as if we are all beneath him and he is the only successfull trader on this forum. He says that he wants to help, well who has he helped?
Some have actually asked for his help and his usual response is that he does not do it for free (it would not be fare to his paying clients)
If he would just be more cordial and offer his help with no strings attached then he might have more people responding to him instead of ignoring him.
Bruce I promis that I am through..
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Registered User
Joined: 10/26/2005
Posts: 238
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Everyone has their own style, tommy21 just because you do not agree with someone dose not always mean THEY are wrong. I for exhample enjoy reading the flair BB puts in his posts. So lets get back to the questions asked in this post. Trading is not easy, mariner you must be willing to take the time to learn. I say 2 years min.. Learning a system is the easy part. (buy on green sell on red), but it will not make you money if you are not in tune with the market. That is the hard part. AB
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Registered User
Joined: 10/7/2004
Posts: 2,126
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I find it funny how some folks around here just cannot control their emotions. Listen carefully what I say "control", not ignore.
The fact is that what I really wanted to do is to get back to the matter on hand for this particular thread. Now the answer is already out here - if you go through previous posts of mine you can probably find it. Now if you are looking for something like "when CSCO is at 29.5 - BUY, when it is 42 SELL", If black > white, if green > red. No you will not find that. The most knowledge you will obtain from anything you read is what you can comprehend. It is not up to the message, it is up to the reader. And besides you must struggle to learn. If you are always told the answers you will learn nothing.
In regards to the question on price to haunt a house - well as much as you want to pay. There is price and value you must distinguish those too to know how much you are paying. In any sense, if you are a real trader "you already live in a haunted house" the market is full of ghosts. Ever follow Level III? - Now is there, now is not, just like a ghost. You know may be the solution to solve the markets is GHOSTBUSTERS (just kidding).
Getting back to the topic. So did any one have any interesting and well thought out approaches to the ever going fight of fear and greed?
And before perhaps real comments come in about the topic, and not personal - I like to say that the best solution can be defined in a single word. I will give you the beginning of it "ac". In that way, somefolks around here won't say I am waiting to see what others say to make up my answers.
And again the meaning of this solution will be only up to your comprehension. It is amazing how the same statement can mean completely different things to two different people.
good luck
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