I'm just starting out, downloaded trial last week and unsure on best route to follow to learn
If you could go back in time and give your self a study plan or a list of steps to learn trading what would it be?
At the moment I'm going through Peter's videos on the Academy, watching the markets, using it in practice mode and recording the markets to look back on.
If you could go back in time?
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Trader Pat
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All good things to do especially the last one.puntinrolls wrote: ↑Thu Dec 03, 2020 1:33 pmAt the moment I'm going through Peter's videos on the Academy, watching the markets, using it in practice mode and recording the markets to look back on.
Only thing I'd do differently is instead of practice mode use real money at minimum stakes. You'll learn a lot more when you have some skin in the game. Then if you're already recording the markets you can record your trades and look back and ask yourself why you did what you did and what you saw that made you enter the market when you did. These are the questions that are important to answer if you want to become profitable.
Doing all of the above is a very good starting point and I wouldn't add to much more for now. You'll probably get a lot of suggestions regarding what books to read and psychology etc... I wouldn't bother with any of that for now especially books, I don't see the relevance between reading any book and actually trading.
Good luck
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Trader Pat
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Cool thread idea.
For me it'd be money management, in particular;
- studying the consequences of risking dif. %s of the bank from the numbers side of things
- exploring/identifying my personal tolerance for risk (emotional side of things) & achieving near-perfect execution of my rules before upping size.
@OP Just my experience & likely dif. for others but even if you're looking at the end-game of automation/programming don't discount manual trading to help you get there. I personally found it challenging to find profitable automation despite having moderate technical ability. Manual trading allowed me to find what worked faster (rather than sifting through data) and from there it allowed me to spend time/quantify/replicate/improve with confidence rather than playing the trial and error game for all strategies and variables.
For me it'd be money management, in particular;
- studying the consequences of risking dif. %s of the bank from the numbers side of things
- exploring/identifying my personal tolerance for risk (emotional side of things) & achieving near-perfect execution of my rules before upping size.
No, that's Steve Howe
@OP Just my experience & likely dif. for others but even if you're looking at the end-game of automation/programming don't discount manual trading to help you get there. I personally found it challenging to find profitable automation despite having moderate technical ability. Manual trading allowed me to find what worked faster (rather than sifting through data) and from there it allowed me to spend time/quantify/replicate/improve with confidence rather than playing the trial and error game for all strategies and variables.
I sort of cheated as I had traded financial markets before I arrived on Betfair, so I had a lot things in my locker before.
But the biggest thing I've learnt in my journey is all about psychology, how it shapes people, the markets and the field of play.
But the biggest thing I've learnt in my journey is all about psychology, how it shapes people, the markets and the field of play.
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ruthlessimon
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Jim Simons (simulators): https://youtu.be/gjVDqfUhXOYpuntinrolls wrote: ↑Thu Dec 03, 2020 1:33 pmIf you could go back in time and give your self a study plan or a list of steps to learn trading what would it be?
Peter Webb (variations): https://youtu.be/DZEiNaXVWSw
Joshua Ball (how to win): https://youtu.be/LzEuweGrHvc
Kent Daniel (momentum): https://youtu.be/2w1OYDeTfsk
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TraderFred
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Speaking as a manual mug, I’d have to agree with this.
If I could go back in time, I’d tell my younger self to learn about computers and to maybe have a closer look at trading/betting football instead. As manually trading horses can seem like a never ending grind.
Never too late! I know a lot on here trade manually whilst boosting their pnl with automation as they can work hand in hand however nothing beats coding up a strategy that brings in consistent profit whilst you enjoy other pleasures...TraderFred wrote: ↑Fri Dec 04, 2020 8:04 amSpeaking as a manual mug, I’d have to agree with this.
If I could go back in time, I’d tell my younger self to learn about computers and to maybe have a closer look at trading/betting football instead. As manually trading horses can seem like a never ending grind.
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TraderFred
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- Joined: Wed Sep 26, 2018 7:55 am
LinusP wrote: ↑Fri Dec 04, 2020 9:15 amNever too late! I know a lot on here trade manually whilst boosting their pnl with automation as they can work hand in hand however nothing beats coding up a strategy that brings in consistent profit whilst you enjoy other pleasures...TraderFred wrote: ↑Fri Dec 04, 2020 8:04 amSpeaking as a manual mug, I’d have to agree with this.
If I could go back in time, I’d tell my younger self to learn about computers and to maybe have a closer look at trading/betting football instead. As manually trading horses can seem like a never ending grind.
I can imagine, I can only imagine !
Fair play to you.
These are great. THanks.ruthlessimon wrote: ↑Thu Dec 03, 2020 4:40 pmJim Simons (simulators): https://youtu.be/gjVDqfUhXOYpuntinrolls wrote: ↑Thu Dec 03, 2020 1:33 pmIf you could go back in time and give your self a study plan or a list of steps to learn trading what would it be?
Peter Webb (variations): https://youtu.be/DZEiNaXVWSw
Joshua Ball (how to win): https://youtu.be/LzEuweGrHvc
Kent Daniel (momentum): https://youtu.be/2w1OYDeTfsk
