I'm put off trading by this site!!!

commanderco said:
Hi DP
What is your 2nd or 3rd language?
How about writing your comments in one of these languages, it what give people a chance to comment.

If the site were in Portuguese, I'd learn Portuguese.

And, no, Porks, I'm not having a bad day. I'm having an automatic one. Hope yours is going well too. :)
 
DbP of course stands for "Digital Brain Processing" or is it "*****removed by JO ****" ?

Unknown to the majority of the populace, it was Dbp and not Isacc Asimov who wrote the book " I Robot ".
 
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dbphoenix said:
I sometimes wonder what would happen if the US were not the leader in this area and all these websites were in French, or Italian, or whatever. What, for example, might the French reaction be if Americans made a habit of making the same errors over and over again with regard to their language?

In any case, if he was drawn to trading for the reasons he states and is so easily discouraged by comments on a website, then, yes, he should quit. Yesterday.

Sorry.

this is getting interesting, ok US is the leader in this area, i have no doubt about it, but wheres ur contribution to that success? i think u will be more successful as a kindergarden teacher than a trader...do you agree?
 
dbPhoenix

newbrumbloke said:
a big thanks to db for highlighting what an ***** he is!!

dbPhoenix was - and remains - on my Buddy List for the simple reason that he made me profitable. Full stop, end of discussion, no debate. I'd been dabbling in the stock market for about five years, and it took some of dbP's comments on this website and on Elite Trader to (finally) make me consistently profitable. I believe he knows what he's doing, and the e.g. 80% of people on this board who lose money would benefit by going to Elite Trader, searching for something like "dbPhoenix, price, volume", and reading the PDFs he posted on a thread there.

That said, dbP's posted some pretty bitter stuff lately. I don't like reading it - and I wish he didn't post it - but I certainly know how he feels. I've been an avid reader of T2W since May and I think the signal-to-noise ratio has fallen in that time (maybe we're a victim of our own success!) and dbPhoenix and others (TheBramble?) have got frustrated with the falling quality and level of sophistication of the average reply to their posts.

The quality of people's written English has nothing to do with the quality of people's posts... but sloppy writing often comes from sloppy thinking, and who likes learning from that!? Je pouve postir en Francais, oder auf Deutsch, aber it's too much effort - because I take time to consider my posts and I'd have to go away and get out the ol' dictionaries to make sure I got it all right. Slopping writing often comes from sloppy thinking, yeah?

If you're reading this and think I'm getting at you: please, don't. The quality of someone's written English has nothing to do with the quality of their post -- but if you want a carefully considered reply, please demonstrate that you've carefully considered your question!

newbrumbloke: many traders see more losing traders than winners. If that bothers you - and it terrifies most people - read up on emotion-free trading, and check out the recent T2W article 'Why Trade'. Trading's a numbers game; if it stirs your emotions, you're going to make a lot of trades and for the wrong reasons, and you're probably going to lose a lot of money. You probably know that already, but I didn't get that impression from your original post. Sorry to sound so down, but I don't want to see you get hurt.

dbP: if you're in my neck of the woods, please get in touch. I'd like to swap you a drink for your thoughts on advanced money management on highly leveraged inter-day trades. Or intra- verses inter-day trading. Or exits. Or pyramiding. Or the weather. Or...



Steve
 
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I have to admit that the first time someone spells out how difficult it is to learn how to trade profitably and how many people fail at it, it seems like a waste of time.

It is true that most people don't succeed, but that doesn't mean that you won't. If it's something you want to do then you owe it to yourself to try.

You will probably lose money for the first couple of years that you start trading. I did, but all of those losses came with their own lessons that I wouldn't have learned any other way, and they were small because I use proper money management, early losses are the cost of the education. Don't be put off by negative comments, If you want to trade, then I encourage you to do just that, and I wish you good luck.

Dan
 
Hello folks,
I realise it's probably a slow trading day or something, but it's no reason to be so openly cranky. Better to kill 'em with icy politeness....

JO
 
I don't see why this site should put you off trading unless you really don't want to trade.

It is very hard work, I should know I have been trading for years! There is a lot of useful information on this site and some helpful people posting as well.
 
Hi newbrumbloke, You will try many different methods and styles of trading and you will probable try options,futures and stock's but you will eventually find something you can do relatively well and then you can laugh at all the people who can't do it.

Welcome, I wish you all the luck and hope you are NEVER discouraged.
 
LOL. db, you are engendering a bit of negativity here. Don't you recall that commenting on spelling became a no-no in flame wars about 15 years ago. Time to put your good hat on again or we'll be seeing you next at another site.

nbb, You are just seeing the other side of the trading game. It seems very easy. It is very simple. But for most of us its hard to do --- and if it wasn't there would be no pot of gold for the winners because its a slightly less than zero sum game.

If you keep trying you will do one of two good things. You will either contribute to the current winners or you will become one --- maybe both. Good Luck.
 
newbrumbloke said:
Hi all
I wanted to express my feeling about my experiences of this site
I started looking into trading after reading about a redundant: London broker who worked from home now earning 70-80K pa. then reading on how aprox 50,000 people in the UK do this as a full time job earning 40k plus.
I understood that this was going to be a massive learning experience but one that I wanted to take out of interest.
I then spent about 10 months learning to trade from publications and getting to grips with all the different trading methods, markets and practices. I would say that I became borderline obsessed!
This site was mentioned in one of the books and I was so pleased to have found it, one because I could get advice and learn more but two that I could read almost any thread and understand the discussion.
HOWEVER!!!
All of the advice and all of the experiences I have read are:
Traders loose money!
Traders very rarely brake even!
Traders should study to the end of time before trading!
And last but not least the trading philosophers who give endless quips on trading like,
You will not stop a trader from trading no matter how bad the odds!

Yet this site grows and grows should I not take the advise, has anyone else been put off.
If I took all this advice onboard why do I feel like im wasting an opportunity?
If I take this advice I should burn my computer!
If people are so down on trading saying that they earn nothing ,loose money and insist that others do not do the same but they continue to trade themselves, aren’t they mad?

I’m sorry if I am battering on but I feel very strongly about this
If there is no money in trading
You will loose money in trading
All you can wish for is to break even, WHAT IS THE POINT!!!
Please do not say for fun.
Having fun is playing on the beach
Driving a fast car
Socialising
Not spending countless hours in front of PC losing money!
Thank you for reading and please do air your views
NO PHILOSIFIERS PLEASE!
That is precisely it !

You have pinned it but not realised that you have pinned it.

I am going to explain it to you.

What happens is that trading is an impossible mission for many people, a very difficult mission for some people, a difficult mission for a few people, and ultimately a doddle for a very few.

But all of us have to start at the bottom and teach ourselves to learn.

It is like a sort of intellectual, emotional, and financial obstacle course.

The fittest survive, and the very fittest survive and go on to prosper.

What occurs next divides the winners from the laggards.

The laggards rely on everything and everybody, the winners only rely on themselves.

The laggards look upon all this for some sort of reassurance, or even a lifeline.

The winners, who have evolved, do not need reassurance or indeed any lifeline from anything or anybody, and look upon all this for amusement and entertainment and for the occasional meeting of minds with other winners.

A conflict now arises, because the laggards, who have not completed the obstacle course or perhaps not even significantly started it, expect to enjoy the same luxuries as the winners.

They expect and demand the prize without having done anything to win it, and of course, because they are not awarded what they are not entitled to, but wrongfully percieve to the contrary, proceed to behave in the way you describe.
 
Newbrumbloke, recall what you said back in February:
http://www.trade2win.com/boards/showthread.php?t=14384
“I found this site to be a gold mine!! reading the discussions are very informative.”
“Now im totally obsessed with the prospect of becoming a full time day trader . . .”

Frustrated ?

Advice to stock investors is to invest in stocks they have some affinity towards, eg a person owns an Apple computer and buys the stock, a person is an engineer so invests in engineering associated companies and so on. Some people only ‘invest’ in mortgages, guaranteed bonds etc and think of ‘investing/trading’ as nothing less than gambling. The redundant 70-80K pa broker you refer to is first – or was a professional; that infers he’s gone through a learning/training process, knows what he’s doing, has prior trading experience and a high level of interest in earning a living by trading at home, his place of business.

You didn’t mention Newbrumbloke if you are trading, if you are making money and by trading what ?

What’s your interest in trading Newbrumbloke, have you been made redundant, do you just want to make some extra money, fed-up with your current employment/life, do you need to generate an income, do you want to ‘get rich’ or is it the bling-bling of daytrading that’s attracting you ?

Have you asked and answered ‘Is trading for me ?’, or is that the question that’s frustrating you that you’re now having to ask yourself and answer ?

There’s several financial vehicles/instruments that can be traded, I chose fx because of the low Account/Trading Margins. Trading doesn’t require endless hours in front of the computer monitor, trading can be done on a Day-to-Days/Weeks basis very profitably:
“ If you do 10,000 trades in a year and make £25,000 is this not the same as doing 2 trades and also making £25,000? ” from Anley in your previous thread.
Some individuals are naturally inclined to short-term day/intraday scalping/trading – but not everyone.

The birth of personal computers and Internet has provided an endless means of making money, earning an income in an endless variety of ways – from ‘home’.

I watched the recent CNBC documentary about eBay notably how ordinary people started businesses out of their homes via the net/eBay, some after selling a couple of items they just wanted to get rid, selling the product/s of their hobby, some out of the necessity to generate an income.

‘Trading’ is obviously profitable, it’s ‘what we do’ and have been doing since ‘caveman’ times, and ‘financial’ trading is extremely profitable – if that’s your thing.

While ‘your question’ “Is trading for me ?” is only going to be answered by yourself, you could also look into:
1) a mentor/s
2) a trading group
3) demo trading
4) trying this route: http://www.trade2win.com/boards/showthread.php?t=15663
5) all of the above
 
Curiously a question to everybody who has posted on this thread .."where do you all fit in"
Can you honestly post it !

a. I'm at an early stage in the learning process - and losing money
b. I've learnt that I need to read, watch, and ask about trading - and still losing money
c. I've realised that there is no magic indicator and I have to learn it myself - and still losing money
d. My eyes are opening - losing BUT also making money
e. I can see patterns and understand the mechanics of chart reading - and making money
f. No more fear - I can read the language - I CONSISTENTLY make money
g. Its a part of me - I can Honestly say - I've found financial freedom

Better get mine in - before there is a torrent of replies.....let's see. Oh yes - me - D moving onto E.

I'm sure there are better ways of describing this transformation, which no doubt certain members will point out to me, but help the Brumi lad by revealing all and let him decide.

Good luck Brumi, you will see better now.

Sandra
 
I guess I'm a cross between d, e and f. I understand my charts fine and don't get confused by them at all, I can consistently make money, but every so often I break my rules and pay for it, so I'm still learning, and I've got a long way to go.
 
f back to d; f back to d; f back to d; f back to d ad nauseam. moving through e at the moment, but i await my next comeuppance :confused: .

already got g, but then i'm just a happy pensioner lurching from pleasure to pleasure :D

good trading

jon
 
A favorite post from a t2w member who is sorely missed:

Skimbleshanks said:
There's one huge problem when starting out - deafness.

That's because 99% of newbies are deaf when they are told by genuine traders the real hard facts that they need to know about trading. First of all they put their hands up in horror, then they give a mouthful to the person who has told them, and then they firmly slap their hands over their ears so that they can't hear any more.

And then someone comes along who tells them all the sorts of things they want to hear. Wonderful cosy things such as how easy it all is, how it only takes a few hours to master the markets, how money just falls over itself to jump into their accounts, how special software will only select winning stocks, how a newsletter will reveal all the secrets, how there are secret formulae and secret pivot levels which are guaranteed to work, there's a guaranteed money-back offer, etc, etc. They are wooed by these softly spoken people and happily hand over thousands of pounds and wait eagerly with their wheelbarrows to cart off all the promised riches from the market. And they end up having to sell the wheelbarrow to get the bus fare for the trip home.

There are things newbies NEED to know, but these are never the things they WANT to know.
 
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