thread: How do I move forward?

90908its not neccessary to maintain a listing of every trade....put down your important winners and losers. . .study them and over time you will start to find similarities that will start providing an advantage to you.

90908if you take 20 transactions a day is obviously dumb, but take screen shots and do everything you can.

I good diary desktop app is something called idailydiary google it, you will never be disappointed! (get the free version)

Only other suggestion

If you will only be placing 10 or less LIVE transactions weekly, try this out-

Carry your reside trades on your account (duh!) Simply do the best that you can here since you obviously will

But, take the specific same transactions in a demo account, in addition to trades maybe you did not possess the confidence to take on your actual one.

Why?

Because this can show you precisely how far your emotions are affecing your ability to exchange.

You may find (such as you did earlier today) that you're made to bail on transactions from fear of loss or losing profit. Because you wont have some emotion on your demo account, you will be-able to allow your transactions play out (you would have abandoned todays trade on in your demo account), reach the target and you will see precisely how could you might be trading the specific same installments in demonstration and in reside.

Most individuals demo trade for some time then go live, but running both accounts side by side you can compare how well you're doing to how nicely you may be doing if there were no emotions involved.

Should you read indicate douglas, he calls this profit difference

Nevertheless this is a chore and many people cant be bothered with this type of leg function. But there is no brief cut to becoming a profitable trader, exercises such as this although dull, will provide valuable feed back for the trader in their state and they can develop confidence.

You can of course shed in both accounts, in which case I guess that your methods need changing.

Always go the extra mile and take action to put yourself forward of all of the dummies that are out there, and you will begin to get an edge over the rest of the market participants.

Good luck

h2

90908There really is a lot of fuzz about using DEMO acounts,
I like to share my view on Demos,
Demo acounts are great to check out your egies,
and they are great to learn what all the buttons do,
different order types charting etc,
nevertheless, they are NOT good to use learning how to exchange,
precisely the reason I say that is because in newspaper trading,
there's absolutely not any fear and no greed, and that is definitely the most important thing
you must learn how to master if you want to become a good trader.
Therefore thats why Im against using Demos to learn the trade.
In case you learn by Demo only, the day that you go live,
I can guarantie you will loose your shirt.
I suggest to open a tiny micro acount,
that way you can find the taste of fear and greed
while still only risking a very small capital.
Some brokers let you open a micro acount for only 50 bux.
Thats the perfect way to learn.

96792

if you choose 20 transactions every day, writing a paragraph for each transaction is obviously dumb, but take screen shots and do what you can.

I good journal desktop program is some thing called idailydiary google it, you will never be disappointed! (get the free version)

Simply other suggestion

If you will just be placing 10 or less LIVE transactions a week, try this out-

Take your live trades on your live account (duh!) Just do the best that you can here as you clearly will

But, also have the specific same transactions in a demo account, in addition to transactions...

That's a fantastic tip. I think I will try it out

And no, there are no shortcuts. .
Today, on a youtube advertisement, I found an advertisement for a broker that said deposit and get a free eBook! Learn to trade in 20 minutes!

I laughed my butt off

96792

there's a lot of fuzz about utilizing DEMO acounts,
I like to share my opinion on Demos,
Demo acounts are great to test out your egies,
and they're great to learn what all of the buttons do,
different order types charting etc,
however, they're NOT good to use learning how to exchange,
precisely the reason why I say that is because in newspaper trading,
there is not any anxiety and no certainty, and this is the most important thing
you have to learn how to master if you would like to become a fantastic trader.
Therefore thats why Im against utilizing Demos to learn the transaction.
If you learn by Demo only,...

I've realized more and more that emotions together with money management make up for at least 60% of trading.
I'm going through Mark's book gradually but steadily to assist myself control my emotions.

96792

its not neccessary to maintain a listing of every trade....put down your important winners and losers. . .study them and over time you will begin to locate similarities that will begin providing you an edge.

I see, thank you
It's seems like such an achievement to'have an edge'. . Maybe it's easier to attain than one thinks, provided that you learn how to control your emotions

96792

I have understood more and more that emotions with money management make up for 60% of trading.
I'm going through Mark's book gradually but steadily to help myself control my emotions.


Finoli

Simply keep in mind that being book smart about it does not mean much. It requires going through the motions in a real-time environment.

I mean, you can be book smart on music theory from the wazoo but you are going to sound like @ss if you attempt to play an instrument you have never played.

96792I have sent this thread to my little brother (age 14) to see, as I had been hoping that when he began learning today, he will have 10 years of trading experience by the time he is my age. Definitely nice to see a young trader, Excellent luck on your endeavors

96792

I have sent this thread to my little brother (age 14) to see, as I was hoping that if he started learning now, he will have 10 decades of trading experience from the time he is my age. Definitely great to see a young trader, good luck in your endeavors

At this age, simply give them a mechanical system and also inform them to follow it to the T no deviations. I believe that it's easier to train someone from scratch that has no preconceptions of the market and idea about all of the probable strategies to trade make it indior based, fundamentals, news, etc..

I have my 8 year old making trades. He does what I has no emotional ties to the money and tell him so there is psychological or no plogical factors to deal with. To him it's just a game.

96792

Simply keep in mind that being book smart about it doesn't mean much. It requires going through the moves in a real time environment.

I mean, you can be book smart on music theory from the wazoo but you'll sound like @ss in the event that you try to play an instrument you've never played.

Yes ofcourse. I have, to start with, experienced every emotion at the live market (fear, greed etc) and beginning to read about how to overcome it I think will make a difference in relation to what time spent reading.
Taking Mark's concepts into practice might be tough, as I might try to stay away from live trading for a while.

However, I dunno