Starter! is it really worth?

[Rocketfeller]

Hi all,

I'm new here, i have spent some time getting some knowledge about trading and before going further id like to know from you guys... is trading really profitable??

im starting doing some virtual operations based on technical analysis (basicly elders' triple screen method, everything written in it sounds quite logical for me..) My plan is to go further now with fundamentals!

Am i wasting my time? is there in trading a huge variance so only few lucky guys earn some and the rest all lose?? is it all made for brokers and institutional traders to win (as they have privileged information)?

I will appreciate answers from experienced members!!

Thanks!

 

[barjon]

well there's some discussion going on here http://www.trade2win.com/boards/fir...rum-lol-here-my-advice-newbies-just-quit.html

 

[Rocketfeller]

thanks barjon!

 

[ratmpower]

Well, it depends on how much effort you are willing to put into it. You can do just as well as institutional traders if you are smart and put enough time to trading. By the way, if you looks at past mutual funds and hedge funds performance, it is far from impressive. Many have failed to produce any gain at all. So I would not give up hope that easily.

 

[EulerFourier]

You are wasting your time with technical analysis, don't let anyone tell you otherwise. I'm not pitching a strategy or a method to you I am giving you the truth. There is plenty of money to be made for a knowledgeable individual who is hardworking and willing to properly manage risk. If you want to learn how to trade you need to log off the forums, put away the books, turn off the charts and stare at either a T&S window or a DOM until you get it. If you're trading retail forex you're playing a suckers game and doomed to fail.

Before the momo's jump on me, I'm not saying charts are completely useless and no money can be made in forex, but if you want to learn you have to understand how volume interacts with bids and offers. If you must read something about trading read the education section the cme website. If some of it seems difficult to understand just remember it isn't for your competition. You want to know why most people fail? They don't even know what they're doing wrong.

 

[Patricia12]

Trading is profitable but it completely depends upon trader, how trade you. If you use a proper trading strategy then it is profitable for you. Your trading strategies does matter not luck. No it is not for brokers and institutional traders to win. There are number of traders also winning.

 

[Rocketfeller]

@EulerFourier - Yep, I understand volume is a crucial parameter and I always take it into account as well as proper money management. I'll take a look at T&S and DOM... never heard about it. Thanks!

After all, due to the multiple opinions that exist in trading I will have to demonstrate by myself whether a specific strategy is working or not... ... some say A... some say not A but B... some say only C maybe D... nothing is clear at all!!

 

[NVP]

Hi all,

I'm new here, i have spent some time getting some knowledge about XXXXXX and before going further id like to know from you guys... is XXXXX really profitable??

I will appreciate answers from experienced members!!

Thanks!

for XXXXX read :-

Accouncy and Finance
Sciencific Research
The Legal Profession
The Medical Profession

do the years of learning and sacrifice and committment towards these professions = guaranteed income and wealth for the rest of your life ?

its the same for Trading........except you dont get a certificate to put on the wall

N

 

[VielGeld]

^^ T&S: Time and Sales

DoM: Depth of Market

These are tools to watch the intent of market participants and actual trades. You'll see the # of limit orders at any given level, and you can assess the market's order flow from these.

Trading is a much harder game than beginners realize. You simply cannot go at it mechanically. The market is a dynamic entity, composed of many participants with different intents, though they all want one thing: your money. So your job is to find a way to assess what the market is doing at any one point in time, and attempt to capitalize on it. You cannot do this unless you are willing to do your own research and be independent in developing your method.

Trading is also much less about the method, though, and much more about your ability to stick to it. BBMac posted an excellent write-up in the thread Barjon linked to above. Your psychology is not to be underestimated.

But of course, all newbies worry about is the method. That's fine; you need a method and an understanding of market structure before worrying about the psychology of it anyway. But once you have that, it's almost all about the psychology.

Good luck!

 

[ph_trader]

yes it is worth it! you can earn a 5 digit numer in a matter or hours, you can blow a 6 digit number in a matter of minutes, the secret is learning, and studying and that can be time consuming, but it is totally worth it, I look at it as a time invested in avoiding loses, when you learn you avoid mistakes and that way your chances of winning gets bigger