I suspect there are many disgruntled and frustrated people here
on this site and just about everywhere else. I have read on many
forums on how difficult this market is to trade. Before we hang
Ducati out to dry, he is just another trader who is struggling to
make sense of it all. Anyone who has been trading for a few years
has been in his position unless you are some sort of trading guru.
Let me share my trading journey with you through the various
newsletters that I have subscribed to in the past. My first paid
website was the Motley Fool website where I subscribed to 3
newsletters - Rule Breakers, Stock Advisor and Hidden Gems. I could
never make consistent money with them as I did not have the
patience and mind set of a long term buy and holder. So I ceased my
subscription. I then subscribed to the Aden sisters gold newsletter
which once again was a longer term type newsletter and a big
picture newsletter which I could never make money from so I stopped
subscribing to them. Thereafter followed a plethora of newsletters
some of which I have forgotten - but they include Robert Miner's
Dynamic trading newsletter (couldn't make sense of his system), one
of Joe Ross's many newsletters - this one on spread trading if I
remember correctly - could never get the fills and exits that he
seemed to get, a paid private forum in Australia which was great to
network with other traders but did not get a lot from the
experience money wise, Michael Ashbaugh's trading newsletter etc
etc...... As you can see my journey was a long and expensive one.
It has probably taken me 10 years to be consistently profitable in
this game, but I believe that I had to go through all these
experiences to find out where my niche was and how to trade it.
Trading is not easy and not for everybody. Just because there are
some who make a very good living out of trading does not mean that
can be automatically transferred to others. Sometimes you have to
just admit to yourself that trading is not for you. We are all on
this very difficult path so some support for each other would be
helpful.
As for Matt and Steve, keep up the great job. I find the
newsletters and commentary helpful and beneficial to my
trading.
If trading were so easy everybody would be at home doing it. The
charts never seem to set up just right during the day. It's only
after the markets are closed and you back and look at your charts
then it makes it a whole lot easier for you to decide what to do.
The only way to trade effectively and not lose your mind over it is
to get involved in a trade and then take an appropriate stop loss.
By using a conditional order, 'one cancels the other' you would
more often than not take advantage of the trading system, or
whatever system you are trading at the moment. HW/NYC
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A trader's journey
Posted by payday on 16th of Nov 2012 at 01:29 am
I suspect there are many disgruntled and frustrated people here on this site and just about everywhere else. I have read on many forums on how difficult this market is to trade. Before we hang Ducati out to dry, he is just another trader who is struggling to make sense of it all. Anyone who has been trading for a few years has been in his position unless you are some sort of trading guru. Let me share my trading journey with you through the various newsletters that I have subscribed to in the past. My first paid website was the Motley Fool website where I subscribed to 3 newsletters - Rule Breakers, Stock Advisor and Hidden Gems. I could never make consistent money with them as I did not have the patience and mind set of a long term buy and holder. So I ceased my subscription. I then subscribed to the Aden sisters gold newsletter which once again was a longer term type newsletter and a big picture newsletter which I could never make money from so I stopped subscribing to them. Thereafter followed a plethora of newsletters some of which I have forgotten - but they include Robert Miner's Dynamic trading newsletter (couldn't make sense of his system), one of Joe Ross's many newsletters - this one on spread trading if I remember correctly - could never get the fills and exits that he seemed to get, a paid private forum in Australia which was great to network with other traders but did not get a lot from the experience money wise, Michael Ashbaugh's trading newsletter etc etc...... As you can see my journey was a long and expensive one. It has probably taken me 10 years to be consistently profitable in this game, but I believe that I had to go through all these experiences to find out where my niche was and how to trade it. Trading is not easy and not for everybody. Just because there are some who make a very good living out of trading does not mean that can be automatically transferred to others. Sometimes you have to just admit to yourself that trading is not for you. We are all on this very difficult path so some support for each other would be helpful.
As for Matt and Steve, keep up the great job. I find the newsletters and commentary helpful and beneficial to my trading.
Peace out
trading is not so easy
Posted by hweinstein4 on 24th of Nov 2012 at 06:53 am
If trading were so easy everybody would be at home doing it. The charts never seem to set up just right during the day. It's only after the markets are closed and you back and look at your charts then it makes it a whole lot easier for you to decide what to do. The only way to trade effectively and not lose your mind over it is to get involved in a trade and then take an appropriate stop loss. By using a conditional order, 'one cancels the other' you would more often than not take advantage of the trading system, or whatever system you are trading at the moment. HW/NYC