Trading for dummies

Trading is often about how to take the appropriate risk without exposing yourself to very human flaws.
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Trader724
Posts: 559
Joined: Fri Dec 27, 2019 11:22 pm

This message is for beginners who came here hoping to find tips that will make them better traders. Be aware that you are trying to get directions on how to fight the enemy right from the enemy. He is not your rightful enemy, but in the end he is still an enemy because you are in a conflict of interest, which means that you can be sure that you will not find out something that you should not find out with their help. You will find some information but the only way you can use it for your benefit is to confirm what you already know. I want you to know that you can succeed right from the first try without buying courses from self-proclaimed gurus, I succeeded without wasting money and time, and I can say that you only need the right attitude and methodology. First you need to know statistics, then learn to be disciplined so that you can follow some logical steps. Those who lose money do so precisely because they cannot follow a simple plan. If you have an idea that you think is good, chances are that others have already tried it, try to do the opposite, to be different. One's greatest enemy is the one they have not yet known. There are three enemies you will fight, one is you, the second are the other traders who are profitable or break-even and the third are the non-professional punters. You only have to defeat one of them if you want to do good, two of them if you want to do great, an all three if you want to be amazing. If you want to be successful immediately, learn the effects of ignorant punters in the markets and you will succeed in a relatively short time. I wish you good luck!
Last edited by Trader724 on Fri Feb 12, 2021 9:15 pm, edited 3 times in total.
elofan0
Posts: 316
Joined: Fri Jan 13, 2017 4:44 pm

Interesting post i think novice traders are on the learning curve so long as dont jump in with both feet and use the forum as stepping stones to learn along the way ...... there are many great ideas in the posts on here im learning all the time from the generosity of other peoples knowledges ... then there is practice mode to try out what you learn .. not put you in the car if youve never drove before and say there you are heres the keys off you go
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Derek27
Posts: 23468
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

Trader724 wrote:
Fri Feb 12, 2021 1:11 pm
This message is for beginners who came here hoping to find tips that will make them better traders. Be aware that you are trying to get directions on how to fight the enemy right from the enemy. He is not your rightful enemy, but in the end he is still an enemy because you are in a conflict of interest, which means that you can be sure that you will not find out something that you should not find out with their help. You will find some information but the only way you can use it for your benefit is to confirm what you already know. I want you to know that you can succeed right from the first try without buying courses from self-proclaimed gurus, I succeeded without wasting money and time, and I can say that you only need the right attitude and methodology. First you need to know the statistics, then learn to be disciplined so that you can follow some logical steps. Those who lose money do so precisely because they cannot follow a simple plan. If you have an idea that you think is good, chances are that others have already tried it, try to do the opposite, to be different. One's greatest enemy is the one they have not yet known. There are three enemies you will fight, one is you, the second are the other traders who are profitable or break-even and the third are the non-professional bettors. You only have to defeat one of them if you want to do good, two of them if you want to do great, an all three if you want to be amazing. If you want to be successful immediately, learn the effects of stupid bettors in the market and you will succeed in a very short time. I wish you good luck!
With all due respect, that is utter nonsense.

There is absolutely no conflict of interest giving advice to a novice trader. However good they get they are certain to follow their own path, develop their one MO and are unlikely to be trading the same selections in the same markets at the same time as you are. People on this forum find new information that they didn't know - Dallas just told me the correct Tennis Trader settings, he didn't lie hoping that I open trades at poor value due to misinformation.

It's incorrect to say "first you need to know statistics" (although you didn't say what you need to know about them). Statistics is one of many useful tools but you don't need to use them, perhaps you're methods require them.

"Those who lose money do so precisely because they cannot follow a simple plan" - That's not true either. Some lose because they don't have a plan, allow trades to go in-play, etc. There are hundreds of reasons.

"If you want to be successful immediately, learn the effects of stupid bettors in the market and you will succeed in a very short time." - WTF???

How long did it take you to be successful and how long is a very short time?
User avatar
Trader724
Posts: 559
Joined: Fri Dec 27, 2019 11:22 pm

Derek27 wrote:
Fri Feb 12, 2021 2:13 pm
Trader724 wrote:
Fri Feb 12, 2021 1:11 pm
This message is for beginners who came here hoping to find tips that will make them better traders. Be aware that you are trying to get directions on how to fight the enemy right from the enemy. He is not your rightful enemy, but in the end he is still an enemy because you are in a conflict of interest, which means that you can be sure that you will not find out something that you should not find out with their help. You will find some information but the only way you can use it for your benefit is to confirm what you already know. I want you to know that you can succeed right from the first try without buying courses from self-proclaimed gurus, I succeeded without wasting money and time, and I can say that you only need the right attitude and methodology. First you need to know the statistics, then learn to be disciplined so that you can follow some logical steps. Those who lose money do so precisely because they cannot follow a simple plan. If you have an idea that you think is good, chances are that others have already tried it, try to do the opposite, to be different. One's greatest enemy is the one they have not yet known. There are three enemies you will fight, one is you, the second are the other traders who are profitable or break-even and the third are the non-professional bettors. You only have to defeat one of them if you want to do good, two of them if you want to do great, an all three if you want to be amazing. If you want to be successful immediately, learn the effects of stupid bettors in the market and you will succeed in a very short time. I wish you good luck!
With all due respect, that is utter nonsense.

There is absolutely no conflict of interest giving advice to a novice trader.
How can there be no conflict of interest, do you think that if everyone did what you do, you would still be profitable?
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Realrocknrolla
Posts: 1903
Joined: Fri Jun 05, 2020 7:15 pm

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.

As a new sports trader (pre off) I was eager to be active in the market, looking for trades all of the time. I remember from my Fx trades that you don’t need to trade every day. And that it is even better not to trade a lot of times. Overtime I have learnt not to force trades and only pick the trades that I think will make the best money. Enter and Exit plan.

“Its nice to be important but its more important to be nice!” Scooter! 😂
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beermonsterman
Posts: 522
Joined: Sun Dec 25, 2016 2:47 pm
Location: Birmingham UK

Im saying nothing :D :D
Or at least until I've had a few beers and the tinfoil hat will come out :lol: :lol: :lol: :lol:
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Trader724
Posts: 559
Joined: Fri Dec 27, 2019 11:22 pm

Derek27 wrote:
Fri Feb 12, 2021 2:13 pm
Trader724 wrote:
Fri Feb 12, 2021 1:11 pm
This message is for beginners who came here hoping to find tips that will make them better traders. Be aware that you are trying to get directions on how to fight the enemy right from the enemy. He is not your rightful enemy, but in the end he is still an enemy because you are in a conflict of interest, which means that you can be sure that you will not find out something that you should not find out with their help. You will find some information but the only way you can use it for your benefit is to confirm what you already know. I want you to know that you can succeed right from the first try without buying courses from self-proclaimed gurus, I succeeded without wasting money and time, and I can say that you only need the right attitude and methodology. First you need to know the statistics, then learn to be disciplined so that you can follow some logical steps. Those who lose money do so precisely because they cannot follow a simple plan. If you have an idea that you think is good, chances are that others have already tried it, try to do the opposite, to be different. One's greatest enemy is the one they have not yet known. There are three enemies you will fight, one is you, the second are the other traders who are profitable or break-even and the third are the non-professional bettors. You only have to defeat one of them if you want to do good, two of them if you want to do great, an all three if you want to be amazing. If you want to be successful immediately, learn the effects of stupid bettors in the market and you will succeed in a very short time. I wish you good luck!
It's incorrect to say "first you need to know statistics" (although you didn't say what you need to know about them).
Statistics is one of many useful tools but you don't need to use them, perhaps you're methods require them.
English is not my primary language, but I thought people knew what I meant. Statistics is the practice or science of collecting and analysing numerical data in large quantities, especially for the purpose of inferring proportions in a whole from those in a representative sample. I don't think you can be profitable if you don't use your knowledge of statistics. You know well what I mean.
Trader Pat
Posts: 4327
Joined: Tue Oct 25, 2016 12:50 pm

Trader724 wrote:
Fri Feb 12, 2021 2:25 pm
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.
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Trader724
Posts: 559
Joined: Fri Dec 27, 2019 11:22 pm

Derek27 wrote:
Fri Feb 12, 2021 2:13 pm
Trader724 wrote:
Fri Feb 12, 2021 1:11 pm
This message is for beginners who came here hoping to find tips that will make them better traders. Be aware that you are trying to get directions on how to fight the enemy right from the enemy. He is not your rightful enemy, but in the end he is still an enemy because you are in a conflict of interest, which means that you can be sure that you will not find out something that you should not find out with their help. You will find some information but the only way you can use it for your benefit is to confirm what you already know. I want you to know that you can succeed right from the first try without buying courses from self-proclaimed gurus, I succeeded without wasting money and time, and I can say that you only need the right attitude and methodology. First you need to know the statistics, then learn to be disciplined so that you can follow some logical steps. Those who lose money do so precisely because they cannot follow a simple plan. If you have an idea that you think is good, chances are that others have already tried it, try to do the opposite, to be different. One's greatest enemy is the one they have not yet known. There are three enemies you will fight, one is you, the second are the other traders who are profitable or break-even and the third are the non-professional bettors. You only have to defeat one of them if you want to do good, two of them if you want to do great, an all three if you want to be amazing. If you want to be successful immediately, learn the effects of stupid bettors in the market and you will succeed in a very short time. I wish you good luck!

"If you want to be successful immediately, learn the effects of stupid bettors in the market and you will succeed in a very short time." - WTF???

How long did it take you to be successful and how long is a very short time?
It took three months for me to become profitable. For someone smarter than me, it might take less.
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Derek27
Posts: 23468
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

Trader724 wrote:
Fri Feb 12, 2021 1:11 pm
If you have an idea that you think is good, chances are that others have already tried it, try to do the opposite, to be different.
I missed that one. I had the idea of laying the field for an overround greater than 100%, but other people will already have tried it (successfully). Should I lay the field now for 90%?
Trader724 wrote:
Fri Feb 12, 2021 2:25 pm
How can there be no conflict of interest, do you think that if everyone did what you do, you would still be profitable?
If everybody looked like me, ranted like me about the same things the world would be a very strange place. But that can't possibly happen. As Pat alluded to trading is not information-based. When a football team wins it's not the manager's strategy that one the game - it's the way he executed his strategy, otherwise he could just give me his strategy and put me on the bench!
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Derek27
Posts: 23468
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Location: UK

Trader724 wrote:
Fri Feb 12, 2021 2:35 pm
I don't think you can be profitable if you don't use your knowledge of statistics. You know well what I mean.
Your methods obviously require statistics but you cannot possibly conclude they are essential to everybody without asking other traders what they use. I've never used them for horse racing or football but have been profitable in both disciplines. I have used them for tennis but was still profitable before I started using them.
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Trader724
Posts: 559
Joined: Fri Dec 27, 2019 11:22 pm

Derek27 wrote:
Fri Feb 12, 2021 2:13 pm
Trader724 wrote:
Fri Feb 12, 2021 1:11 pm
This message is for beginners who came here hoping to find tips that will make them better traders. Be aware that you are trying to get directions on how to fight the enemy right from the enemy. He is not your rightful enemy, but in the end he is still an enemy because you are in a conflict of interest, which means that you can be sure that you will not find out something that you should not find out with their help. You will find some information but the only way you can use it for your benefit is to confirm what you already know. I want you to know that you can succeed right from the first try without buying courses from self-proclaimed gurus, I succeeded without wasting money and time, and I can say that you only need the right attitude and methodology. First you need to know the statistics, then learn to be disciplined so that you can follow some logical steps. Those who lose money do so precisely because they cannot follow a simple plan. If you have an idea that you think is good, chances are that others have already tried it, try to do the opposite, to be different. One's greatest enemy is the one they have not yet known. There are three enemies you will fight, one is you, the second are the other traders who are profitable or break-even and the third are the non-professional bettors. You only have to defeat one of them if you want to do good, two of them if you want to do great, an all three if you want to be amazing. If you want to be successful immediately, learn the effects of stupid bettors in the market and you will succeed in a very short time. I wish you good luck!


"Those who lose money do so precisely because they cannot follow a simple plan" - That's not true either. Some lose because they don't have a plan, allow trades to go in-play, etc. There are hundreds of reasons.
I also mentioned those who have no plan, I was referring to them when I said stupid bettors.
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Trader724
Posts: 559
Joined: Fri Dec 27, 2019 11:22 pm

Realrocknrolla wrote:
Fri Feb 12, 2021 2:26 pm
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.
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Derek27
Posts: 23468
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

Trader724 wrote:
Fri Feb 12, 2021 2:40 pm
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.
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Trader724
Posts: 559
Joined: Fri Dec 27, 2019 11:22 pm

beermonsterman wrote:
Fri Feb 12, 2021 2:30 pm
Im saying nothing :D :D
Or at least until I've had a few beers and the tinfoil hat will come out :lol: :lol: :lol: :lol:
Everyone knows what I mean, but I won't bother to argue with everyone. Whoever is intelligent enough will understand what is to be understood.
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