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Registered User
Joined: 2/1/2006
Posts: 32
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i have a request
can you consider being my online trading mentor, i know its a big ask but i would love to know what you know and take the appropriate steps to gaining your knowledge and experience in trading.
emmanuel
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Registered User
Joined: 1/28/2005
Posts: 6,049
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Trading is a lot like a marriage, job, house. You have to do
what is right for you.
I've had friends who have seen/heard of my trading results
and think "that sounds easy. I will give it a try".
They usually fell apart. They usually lost money They
found it difficult to have real money and their emotions
on the table. (this is the problem when you hear sterile
results. There is no emotion or knowledge involved.)
Everyone has a different style, risk tolerance, account size,
time available to study.
Even if you paid for an expensive course. That gave you an
exact way to trade with entry and exit rules.
What happens if it starts to fail?
What happens if market conditions change?
You would be unarmed and defenseless.
What I think newer traders fail to understand is trading is
not about systems/techniques. It is really about you.
Your ability to learn, understand, and turn your beliefs
into reality and your ability to do that without bias.
I think the first things you should try to understand is what
is out there:
Indicators
Short-term trading
Long-term trading
Counter-trend trading
Trend following
Fundamentals
Chart patterns
Once you find what you like. Then you look for ways to
implement it.
Your early goals should be knowledge and understanding
not profits and success.
You can trade very small positions until you feel comfortable
with what you are doing.(10 shares or less )
(remember if you buy a stock at $20 and sell it
at $24. It is a "correct" trade. It does not matter
if you made money because you only owned a few
shares. The important thing is you have shown to yourself
that it can be done. If you can do that consistently
the profits will come)
It is about finding out what suits your tastes and what
does not.
I hope that helps.
Thanks
diceman
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Registered User
Joined: 2/1/2006
Posts: 32
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thanks diceman
i know exactly what i need to do. accquire more knowledge and experience through virtual trades also get the emotions out of my trading because that has humpered my success.
i still think there is loads i learn from you, i will be in contact if thats ok with you.
thanks again
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Registered User
Joined: 9/22/2005
Posts: 849
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There are seceral experienced traders (Diceman, apsll, fpetry, HaveNoCents) who are willing th share their observations and ecperience on various aspects of trading.
They will give their opinions, but dont ecpect a flat out BUY IT NOW or SELL IT NOW. They wont take that reaponsibility away from you.
You have to make up your own mind, do I want to buy/sell at this price and why. What is your particular set of indicators telling you.
If you have a specicic question, post it as a new topic and if some one has answer he will will answer your post. Otherwise, read the posts on subjects which interest you. You can learn a lot that way on many aspects.
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