Aloha everyone and thanx for your continual help..,
i honestly am listening to what you are saying and am acting (rather not acting) because of it.
Im honestly not some aggressive bad tempered sort of guy! Lol
(Even though i may look rather evil in my profile photo!) LOL
I only got stressed because all i meant when i said that ''its worked'', was that what you have all said to me to try assisting and helping me has worked because i am now listening to you and am only demoing now, not risking more money.
But a few people then started to get cocky and sarcastic and try to mock me still though, and that was what annoyed me!
LOL
But back to the present page..
[B[Questions from Nine:[B[
1. Do you enjoy what you're doing? How much? How fast does your heart beat?
I enjoy it in some ways, such as i enjoy it when im in profit, i enjoy the actual work that goes with it of reseraching the news of the markets and drawing trend lines and support resistance levels.
And i enjoy the ambition and unlimited aspect that goes with it, as i currently am earning about £250 per week from my own online businesses, but i have alot of ambition and see the potential earnings in the stock markets.
And my heart beats very fast after i have done my research and made my trade but then once i go into loss of more than 5pips i start to get very scared and i just feel upset and sad and scared.
(Ive worked as a qualified bodyguard for 9months now though, gave up going into a career in the police with a starting pay of 27k per year to go for this fulltime though, so can handle the pressure.) lol
Its a different kind of pressure. The heart beating means you are having intense experiences which will be forming links in your brain and will reinforce any bad behaviours ... YOU DO NOT WANT TO DO THIS!
2. What did you learn from your last thread?
Um from my last few trades i learnt quite a few things;
I learnt that no matter how much you research and how skilled you are, scalping noise trends is ultimately based on luck at the end of the day! Lol
I learnt that you need to have a capital balance of atleast £500 minimum before you can become consistent and start to make regular profits,
as when ive been battling with between £30 - £100 it simply wont work!!
Ive also learnt that you simply need ALOT of luck to be sucessful, no matter what anyone says about how its skill and stratergy not luck, its simply not true! LOL
As unless you have luck on your side, you will plot all the correct suport and resistnce levels, get the current trend direction right, even enter with buying at a 5point support level, only to end up having the trend decide to finally break then and crash down through the support level!!
This is representative of where you are in learning. You MUST NOT TRADE while at this stage or you will just build bad habit and bad thinking on top of whatever habitual errors you have already built.
(You need to anaylse the graph correctly 1st, but unless luck is on your side you will simply fail!!)
3. Does it make sense to keep risking money when you are not showing any positive consistency?
No, it would make alot more sense to just demo till you get consistent, even if it means you are missing out on potenial earnings you are atleast not losing more cash too!
But still no matter how hard you try to really pretend demo cash is real, you simply wont react in the same way and will be prepared to take more risks than you would with real.
Thats good because you don't want to have the intensity induced habit building ... those habits are extremely hard to break. But even paper trading with no strategy will only build bad habits. Strategy first. Then testing. Then better strategy. Then forward testing (paper trading).
4. What's the difference between gambling and making money in a statistical game (poker, trading)?
Lol.. I read this lastnight and was thinking about it in te shower this morning for some reason that i dont know why.. LOL
At the end of the day spread betting isnt trading though!! ITS BETTING.
It may be a more analyisable and more 'professional' form of gambling, but it is still gambling/betting not trading.
Trading is what i do on ebay, when i buy designer jeans and shoes from China at a very cheap wholesale price, and then sell them to buyers at a higher price, and so just physically keep the profit.
However on spread betting you are not really 'buying' the stock at that cost, and then taking it and selling it on and making money.
You are simply looking at a market's value, looking at a few graphs to see in which direction its been heading over the last few mins to few hours, checking for any news to give you hints about its future, and then simply predicting if you think it will go up some more or if it will start to go down, and then simply bet on the future direction you predict.
Just like in football, you look at the real madrid team and how they have played in their last match to last few matches, you look to see if any key players are injured, you compare them and their recent perfomances to the oppositions, and then you bet in the direction of if you prdict they will go up and win, or go down and lose based on that data analysis.
(You can draw just as many trend lines and do even more research for football as you can do the stock market).
Th only real difference is that stock market betting has been portrayed as being alot more glamourous and professional than football! LOL
You can carry on with that view ... because it is 100% representative of what you are doing.
Or.
You can learn that trading is about making money and gambling is about making thrills. You might do a search on trade2win for gambling. You must figure out how to make trading about business in your mind not about thrills. A steady business. Or else you wil just be a donor to the businessmen out there.
5. How much do you want to succeed - how much work are you willing to do and how long are you willing to stop trading for while you get yourself sorted out?
And i am determined to suceed at this!!
I gave up a career in the spanish police for this to become my future living, and so i am going to keep working and working till i can trade like a pro!!
I admit that im used to taking a different route for my previous careers than what is needed for trading.
For example since i was about 8years old i always had a very toned and muscley body without ever having to go the gym, at 14 i started working as a partime body-model simply due to goodluck in my genes, even though i was eating macdonalds 2x per day everyday for breakfast n lunch 5years.
And then at 16 when i wanted to move from amateur to semi-professional i just started going to the gym once per week for 30mins, still eating my 100% junk food diet, and became very sucessful still as all i needed to do was physical work once per week, that required no stratergy just well 'doing it', and could just relax and do what ever i wanted the rest of the time.
But so now when i started trading ive found that no amount of physcially begging and pleading with the stock market through my laptop screen will actually make it change and go back to trending in my favour!! LOL
Even when i then start to swear and threaten the market it still just doesn't work!! LOL
But i am extremely ambitious and enthusiastic to practise and practise on my demo account every day from morning till late night until i get to my 80% sucess rate goal!!
(SORRY FOR SUCH LONG REPLIES WITH ME JUST BABBLING ON AND DRIFTING IN AND OUT OF MY LIFE STORY!!) LOL
But i feel that from now on the stockmarket world needs some new enthusiasm and enegery!!!