websites, learning the trade...

[cogitoergosum]

This may be of some interest, although I have noticed that most people like to think they can learn how to trade by trial and error (although those invariably get wiped out quite quickly), but I have been following a relatively new website out there called Trading for Wealth - William Robinson, where this guy posts a view of the day (when he has one) and he sends an email to subscribers every morning with his trading signal. So far I have noticed he's been pretty spot-on (and yesterday's sell signal and today's signal were exception). This guy trades himself as well - or so he says.
Has anybody seen it? Any opinions out there?

 

[new_trader]

IMO: Learning to trade by trial and error is the best way to learn and if you keep tight stops you won't get wiped out quickly. But you will learn this anyway. The problem is that most people entering this profession want to make money now and therefore do everything possible in order to bypass the bitter and nasty learning process.

"The key resources you need to accomplish anything worthwhile in life:

i. An eye firmly fixed on the goal.
ii. Will power.
iii A high tolerance for pain."

(John Walker)

 

[shadowninja]

It's a bit like a martial art. You can read all the books you want, watch all the DVDs you can get hold of and even be told by a master when an opponent does X, you do Y, but until you actually spar regularly, you won't be any good.

 

[cogitoergosum]

shadowninja is abosolutely right - but on the other hand, sparring regularly without any guidance or tuition on HOW to spar will also get you wiped out!