Trading for dummies

[Realrocknrolla]

I agree with Derek.

Dallas has helped me umpteen times! And the forum is full of useful information. The videos put out by Peter are brilliant. Great for refreshing if you want clarification.

When I say advice I'm not talking about using software, you should know what I mean.

I always know what the enemy are doing! I have been to four wars!

[Derek27]

I agree with Derek.

Dallas has helped me umpteen times! And the forum is full of useful information. The videos put out by Peter are brilliant. Great for refreshing if you want clarification.

When I say advice I'm not talking about using software, you should know what I mean.

I don't think RRR and I was referring solely to advise about software. Dallas has given a lot of trading advice to newbies and Peter's video's, although he's using BA, is almost entirely about trading and psychology.

[Kai]

I think the experienced traders practically have a moral obligation to point aspiring traders in the right direction and to help explain the core concepts of trading and psychology, but it's up to aspiring traders to put in genuine effort and work out all of the details.

[Realrocknrolla]

I agree with Derek.

Dallas has helped me umpteen times! And the forum is full of useful information. The videos put out by Peter are brilliant. Great for refreshing if you want clarification.

When I say advice I'm not talking about using software, you should know what I mean.

I don't think RRR and I was referring solely to advise about software. Dallas has given a lot of trading advice to newbies and Peter's video's, although he's using BA, is almost entirely about trading and psychology.

Yep!

Peter has never given me advice about software! Like you said.... psychology!!!!

[Trader724]

It took three months for me to become profitable. For someone smarter than me, it might take less.

For somebody not as smart as you it might be never! This forum is full of pros but also people who are struggling to break even and some have even given up. We shouldn't really be giving newcomers false hopes that they can be successful quickly just by using statistics or doing the opposite of what stupid people do. Some might even be stupid themselves and unfortunately stupidity can't be cured simply by doing the opposite. The reason for this is that nobody is 100% stupid and does absolutely everything in the reverse manner to how it should be done. They need (somebody) to identify what they're doing wrong and correct it.

I have come to some conclusions to which I was aware that everyone will have a reaction and I am not going to explain to everyone their meaning because I have neither the time nor the desire. Whoever reads it will decide for himself what he needs to understand.

[Trader724]

I agree with Derek.

Dallas has helped me umpteen times! And the forum is full of useful information. The videos put out by Peter are brilliant. Great for refreshing if you want clarification.

When I say advice I'm not talking about using software, you should know what I mean.

I don't think RRR and I was referring solely to advise about software. Dallas has given a lot of trading advice to newbies and Peter's video's, although he's using BA, is almost entirely about trading and psychology.

Peter does not care about any of us, we do not pose a threat. He is far too experienced.

[Trader724]

it's up to aspiring traders to put in genuine effort and work out all of the details.

You are a smart man.

[Trader724]

How can there be no conflict of interest, do you think that if everyone did what you do, you would still be profitable?

To be fair you're falling into a very common trap.

If 100 unprofitable traders spent a month looking over Peter Webb's shoulder to see how he traded each market, after that month most of the 100 traders would still be unprofitable.

Trading is about much more than just information. Lack of information isn't why people lose money, its a persons mentality that loses them money. Mentality is a big umbrella term that covers all sorts from discipline to motivation to willingness to put the hours in to learn.

I said this to somebody lese recently there are countless examples on the forum of more experienced forum members helping out new members.

I like to think that my talent is that I know how to get out of traps, not how to avoid them. If in your example 5% can copy successfully, think about what the effect will be when 5% out of 10,000 will do the same.

[Trader Pat]

How can there be no conflict of interest, do you think that if everyone did what you do, you would still be profitable?

To be fair you're falling into a very common trap.

If 100 unprofitable traders spent a month looking over Peter Webb's shoulder to see how he traded each market, after that month most of the 100 traders would still be unprofitable.

Trading is about much more than just information. Lack of information isn't why people lose money, its a persons mentality that loses them money. Mentality is a big umbrella term that covers all sorts from discipline to motivation to willingness to put the hours in to learn.

I said this to somebody lese recently there are countless examples on the forum of more experienced forum members helping out new members.

I like to think that my talent is that I know how to get out of traps, not how to avoid them. If in your example 5% can copy successfully, think about what the effect will be when 5% out of 10,000 will do the same.

You could only copy his actions not his thought process.

[Euler]

The forum is a place for like-minded people to chat, debate and share stuff. There is no obligation to help or advise, but many do so very selflessly.

There are loads of very successful traders on here, so even a modicum of information from any of them will benefit newbies, but I wouldn't classify them as an 'enemy'. Sometimes the experienced will give a bit of tough love, but that's just to save people the suffering that lots of us have gone through.

I've met and chatted to many on the forum and formed some great relationships and in a somewhat isolated occupation, it's nice to have that and a bit of banter on here.

Ultimately an open forum that allows people to interact in this manner is much better than a closed forum or a subscription type service where the incentive is very different. But ultimately some of that comes down to how people choose to use it.

[Trader724]

To be fair you're falling into a very common trap.

If 100 unprofitable traders spent a month looking over Peter Webb's shoulder to see how he traded each market, after that month most of the 100 traders would still be unprofitable.

Trading is about much more than just information. Lack of information isn't why people lose money, its a persons mentality that loses them money. Mentality is a big umbrella term that covers all sorts from discipline to motivation to willingness to put the hours in to learn.

I said this to somebody lese recently there are countless examples on the forum of more experienced forum members helping out new members.

I like to think that my talent is that I know how to get out of traps, not how to avoid them. If in your example 5% can copy successfully, think about what the effect will be when 5% out of 10,000 will do the same.

You could only copy his actions not his thought process.

Trader Pat, I read your posts you look like a smart man, whatever someone would do for any reason if you follow and copy him you will always have the same results as him. It's true you don't know why he did something, but you know the conditions and it's enough to figure it out after gathering enough data. I kept talking about statistics. But that's not the point anyway.

[Trader724]

The enemy was a figure of speech to highlight what I had to say. I wanted to see some reactions, thanks to those who contributed to this topic and implicitly to this forum. Your opinion is invaluable.

[beermonsterman]

The forum is a place for like-minded people to chat, debate and share stuff. There is no obligation to help or advise, but many do so very selflessly.

There are loads of very successful traders on here, so even a modicum of information from any of them will benefit newbies, but I wouldn't classify them as an 'enemy'. Sometimes the experienced will give a bit of tough love, but that's just to save people the suffering that lots of us have gone through.

I've met and chatted to many on the forum and formed some great relationships and in a somewhat isolated occupation, it's nice to have that and a bit of banter on here.

Ultimately an open forum that allows people to interact in this manner is much better than a closed forum or a subscription type service where the incentive is very different. But ultimately some of that comes down to how people choose to use it.

Great words you the man Euler

[Derek27]

I like to think that my talent is that I know how to get out of traps, not how to avoid them. If in your example 5% can copy successfully, think about what the effect will be when 5% out of 10,000 will do the same.

You could only copy his actions not his thought process.

Trader Pat, I read your posts you look like a smart man, whatever someone would do for any reason if you follow and copy him you will always have the same results as him. It's true you don't know why he did something, but you know the conditions and it's enough to figure it out after gathering enough data. I kept talking about statistics. But that's not the point anyway.

You can watch every Liverpool game, you know the manager's decisions, the conditions and circumstances surrounding them, but you cannot possibly figure it out and manage the side yourself - you don't have the knowledge and experience!

[Kai]

You could only copy his actions not his thought process.

Trader Pat, I read your posts you look like a smart man, whatever someone would do for any reason if you follow and copy him you will always have the same results as him. It's true you don't know why he did something, but you know the conditions and it's enough to figure it out after gathering enough data. I kept talking about statistics. But that's not the point anyway.

You can watch every Liverpool game, you know the manager's decisions, the conditions and circumstances surrounding them, but you cannot possibly figure it out and manage the side yourself - you don't have the knowledge and experience!

But Derek I've won more trophies than Klopp and Pep together and built more squads than Sir Alex. If you're telling me that all of my Football Manager experience meas f*** all, then I think you're off your rocker again!! If Klopp bothered to listen to my advice about buying a spare centerback he'd be cruising to another league title now FFS