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Hello Traders,
I just joined this forum 2 weeks ago and I am really amazed by the great format, collegial spirit, and loads of valuable information. I just wished that I had joined before I started trading...so I made a lot of mistakes like most beginners, attempted to learn as I traded real money, which was a big mistake. I like to think of it as an expensive education. Now in the last month, I stepped back and pressed the Reset button and am learning on the simulator and starting from scratch. I left my day job and am doing this full time so I want to succeed but realize that I need to make good trades and not be concerned with P&L to avoid bad habits such as over trading.
The item that I learned in the past few months is DON´t RUSH IN TO THIS TRADING THING! Do your homework first. Get thoroughly trained before using real money! I just wanted to share some of the resources-books that I read that IMO are good primers prior to start trading or simulation:
This web-site => study NexusFi (formerly BMT)!
Enhancing Trader Performance by Brett N. Steenbarger => read before considering trading! lots of good advice and training planning.
Profits in the Stock Market by H.M. Gartley, even though its old, the fundamentals are valuable to start develop a "market read". actually from the last few months, just following the intermediate trend of the FDAX would have netted good results.
Markets and Market Logic by J. Peter Steidlemayer and Kevin Koy. This gives a good insight in to market profile.
Day Trading with Short Term Price PAtterns by Toby Crabel. More insight of developing a market read.
Trade Chart Patterns Like the Pros by Suri Duddella.
1. Simulated trading is great to learn a platform and prove that a trading system works. I have found that I am very profitable trading in a simulated environment than a real one.
2. The study of price action is far more important than the reliance on indicators.
3. Having a trading system/plan that is effective and that you believe in is paramount.
4. Controlling my emotions and trading without fear or stupidity is my key for success.
5. Maintaining a trading journal takes a lot of work but has huge rewards.
6. Trading rooms offer little advantage.
7. Learning to quit after profit targets are met.
Another book that I found to be good is
Thinking, Fast and Slow by Daniel Kahneman
It explains the two parts of the mind, System 1 and System 2, and how they drive the way we think.
Again, after the last month of joining NexusFi (formerly BMT), I can not say how much I really am impressed with this forum. Before thinking about trading or getting a broker/system: STUDY NexusFi (formerly BMT), get an elite membership and study!
I like to think of it as an expensive education. Now in the last month, I stepped back and pressed the Reset button and am learning on the simulator and starting from scratch. I left my day job and am doing this full time so I want to succeed but realize that I need to make good trades 
and not be concerned with P&L to avoid bad habits such as over trading.
