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For what it's worth, and this is only my personal experience: for any one trade to be successful, about 20 different things all have to click. All of them. At the same time. Miss just one and the trade won't be perfect. Miss two and you've probably bought yourself a loser.
I think I've learned about 15 or 16 of them, so far. After having spent about three years, more or less "full time".
But there were never more than one or two in the same place. Some I got from books (The Disciplined Trader comes to mind). Some I got from web sites like futures.io. Some I got from trading rooms, but I won't name names because, for the most part, they were BS; although I did pick up a thing or two there.
Some I got from turning the computer OFF, just sitting there and thinking.
And, surprisingly, only half are of a "technical" nature; you know: behaviour of the market, price action, indicators, volume, etc.
The other half are about ME!!! How I make decisions, how and what biases me, how I react to events, etc.
You'll read that learning to trade is a journey. That you can believe.
One comment about hefty fees, but, again, this is just my experience: what I've found is that the heftier the fee, the more basic is the material.
Even if you have the capital needed to do this (and I certainly hope you do), do all your learning in SIM. Don't "blow an account". There are plenty of people out there all too willing to take your real dollars.
Good luck. (Yeah... that too is one the 20 things...)
I look forward to exploring this site. I found it while reading about jigsaw and I think I may have heard a reference on the chat with trader's podcast. My goal is to learn how to trade order flow this year. So far I'm about 2 months into the journey.
Thank you for your interesting perspective. I really do appreciate your advice and will take them to heart. While on this journey to becoming a profit making trader, I do believe it is important to have a support system to keep you motivated and focus like what we have here in this forum. I would like to have something like this in the real world, where do you get yours from? From your remarks about hefty fees, it sounds like its a waste of time and money.
I have been reading for quite sometime and interestingly you mentioned the very first book I read"The Disciplined Trader". From my understanding of this book and listening to Joel Pozen, there's emphasis on investing considerably well in knowledge and having the right mindset before jumping into trading. The question is where do I get this complete knowledge? By reading and listening to youtube or what? what if I pickup junks as well?
Hi Big Mike. My name is Cesar and always been interested in trading. Unfortunatelly lost a lot of money and found this forum as it would ihelp me to learn. I´m also suscribed in your youtube channel.
Many thanks for all your work
Hello Mike,
My name is Alex, I am a mechanical systems engineer by profession, by an aspiring trader by passion, started trading in 2014, still trying to be profitable. Until last year I was doing the same patterns which always ended up with me blowing up an account and refunding, rinse, repeat. Then I decided to dig deep and rethink my approach at a deep level. It's now been 7 months, and with a deliberate and focused effort, I am starting to see very good results. I learned of this forum after watching some of your webinars with FT71, and I fell in love with this community and I want to join, learn and grow with it.