Your Single Best Piece of Advice

[kimo'sabby]

Persons thinks: I need consistant money, i will open a futures account.

Person creates rod for own back, and funny reading for other people.

Crazy world. Funny/laugh.

 

[Black Swan]

Thanks, shadowninja, tim3, Hoggums. That all seems like sound advice. I am a very disciplined person and I'm really just dipping my toe in the pool so to speak. You've been very helpful. It's sounds very wise to think of what you COULD lose instead of what you might POSSIBLY win as a mindset.

As for brettus and Black Swan... it's a good thing I'm not coming here for encouragement, just for valuable information. Not very heartwarming for a new member of this forum! lol

Forker, that kind of made me laugh.

Anyone else have any input?!?

LOL, I'm just so subtle I lose myself at times...have a good long hard think about the underlying meaning of my encouragement.

And click every link, seriously, everyone will/already has trotted out the usual advice stuff which is fine, but consider T2W as a hub, a base, a meeting place where you'll find a thousand different tangents and directions you can go off in search on new information. The trading virtual library is vast, you need to spend years reading, researching, being curious, there are several links I've picked up from T2W and found; sites, authors, experts...etc..that have completely changed my thinking/approach.

 

[barjon]

dt

Yes, I agree with what you say but I wasn't really talking short term as we think of it in trading terms. In stock markets generally there is a long-side bias over the long term because of the constant inflow of new money overall - albeit the occasional backward step as money flow goes negative from time to time.

Perhaps this matters little from a trading perspective where individual trades are generally short term in nature even though, as you quite rightly point out, it's about making money money over the long run.

Whilst TA is useful for providing a "reason to enter/exit" I'm with you that it's the sort of things that you talk about that are the much more important things for long term success. Funny you should pick on MA crossover though, it's the only one that turned out positive of all the systems Kaufman tested over a 20 year period and even then you had to have deep pockets and run it without a stop-loss :whistling

jon

 

[new_trader]

hey guys and gals,

i've been doing research for the past couple months, i've gone through countless forums, posts and even books on fx trading so far. Now i'm wondering, if you could give me only one single piece of advice before i start trading live what would it be? I haven't chosen a broker as of yet, so i suppose you could give me your recommendation on that but i'd prefer almost anything else since i've done my work on that already. Who better to give me tips than a bunch of experts? They say that knowledge is the best weapon you can arm yourself with starting in this industry and with time comes experience. I'm trying to gather as much of that prized knowledge as i can before i start!

Ps. I do plan to open a practice account and to test all of my strategies diligently before moving to the next step. I'd just like to glean from the collective expertise as much as i can while i await that next challenge.

:!::!: DON'T buy any trading product/tool/application/plug-in/add-in/indicator/aid/simplifier/highlighter/deconstructor/reconstructor or similair from any vendor, regardless of who they are or what they promise :!::!:

 

[DionysusToast]

Anita - despite New_traders protests, it is a fact that you will get along much better if you get a trading platform...

So - at least 1 piece of software is required...

You might also want some data too

 

[shadowninja]

I find it hard to read DToast's posts because I get distracted by his cute but hostile carrot.

 

[DionysusToast]

I find it hard to read DToast's posts because I get distracted by his cute but hostile carrot.

That's not a carrot.

I'm just pleased to see you.

 

[shadowninja]

The opening is to one side?

 

[DionysusToast]

I have just noticed that shirt/jacket...

You sir, have no place commenting on someone else's avatar.

That fabric wouldn't look out of place on Grandma's sofa.

 

[wackypete2]

stop loss, especially near dash's schlong

I hear that's a very small stop

Peter

 

[wackypete2]

:!::!: DON'T buy any trading product/tool/application/plug-in/add-in/indicator/aid/simplifier/highlighter/deconstructor/reconstructor or similair from any vendor, regardless of who they are or what they promise :!::!:

Even if they just recently came out of the closet.

Peter

 

[new_trader]

Anita - despite New_traders protests, it is a fact that you will get along much better if you get a trading platform...

So - at least 1 piece of software is required...

You might also want some data too

How you've changed since becoming a vendor

The emphasis is on the BUY. My trading platform is FREE and with a bit of brains and bit of effort the rest will come naturally.

 

[DionysusToast]

Actually, I haven't changed - I've always been evil but was hiding it.

Hope this helps!

 

[new_trader]

Yes, but now it is becoming more evident how clueless you are.

UNSUBSCRIBED!

If it was my thread I would request, in a dramatic way now that a vendor has infected it, that the moderators close it :cheesy:

 

[Black Swan]

I have just noticed that shirt/jacket...

You sir, have no place commenting on someone else's avatar.

That fabric wouldn't look out of place on Grandma's sofa.

Is that a jacket? Wow..I've changed avatar today, loved the mirror scene in Enter The Dragon when I was a kid..

 

[stephen2003]

do not use your own capital to trade.

 

[shadowninja]

I have just noticed that shirt/jacket...

You sir, have no place commenting on someone else's avatar.

That fabric wouldn't look out of place on Grandma's sofa.

Hence, I have perfectly merged into the background and you have not noticed me sitting on your sofa.

It's actually an army sniper jacket with full face veil from the 1940s. or geeky depending on your viewpoint. I like it. Darren't wear it outside, unless I'm in the woods doing a spot of raping.

 

[amit1986]

The trading learning curve is very steep. You really do need the heart of a lion in order to survive it and make it as a consistently profitable trader.

 

[Chartsy]

nevah give up

 

[Anita V]

Wow, this thread has gone way out of control! Lots of useless but nonetheless funny posts and some that still seem a wee bit over my head. I'm still new to this and I clearly have lots more reading to do. new_trader, you spoke of your trading platform? Whats the basis for it?

I'm going to hit the books/forums some more and maybe come back to your with enlightened(or maybe not so much) questions hopefully.

Cheers everyone!

ps. Black Swan, sorry for throwing you in with brettus, I didn't realise it was just a case of hyper-subtlety *rolls eyes* hahaha No really, you don't seem SO bad!