bonchi07

Wow!!! You definetely need to finish the "mindful trader project." That sound so interesting. I will help you sell it... Have you tried to find programmers through Elance? or Guru.com?

I am interested in the article. Could you please send it? Thanks

Hello, I am thinking about taking the course provided by Ifundtraders. I will be taking the course in day trading equities. Have you heard of them and Oliver Velez? Any opinions on this?

Your current laptop with the dual core and lack of RAM is definitely an issue. That laptop may be fine for surfing but it wasn't designed to handle the real time data flow of todays markets...If you can afford it, move up to an i7 laptop...especially the i7-2630QM....Lenovo makes one and Eddie Z at EZ Trading Computers upgrades it with 8 GB of RAM and a Solid State hard drive...you don't necessarily need to have it upgraded but Eddie knows how to make them lightning fast. Like putting a supercharger on a car!

I totally identify with this system because I am a day trader myself and I trade this way too. My way of minimizing losing trades is by having an R (max amount of money I can lose per day) factor. This helps me control my trading. As hard as it is, I think this is a great rule because it keeps me in check. It pushes me to be more careful with my picks and my buying time. I like being a day trader because I sleep better at night. I dont have to worry about waking up to a disaster in Europe or who knows where...and the market is down big... Yes, of couse I have missed the gaps too, but overall my peace of mind is more important at this point. I hope this helps!

Thank you for putting it so clear!!! As traders we seldom forget about this and this is what gets us emotional all the time. We need to be realistic and cold, which is hard but not impossible. "Discipline is Key" to be succesful. As you put it: You need to know how much money you can lose on any given trade. Thanks for reminding us of this!!!

I do not think you should start taking big risks. You are calling them risks, so it seems stressful already. I have felt the same way a bunch of time. I think it is important to examine the good and the bad trades in order to learn. Also, as much as we all want to make money quick, the market will teach you otherwise. Somebody told me: "It is not about the results but about the process" and yes the money makes us feel we are trading well, but if we focus on the trading itself instead of the money we make, the money will follow...It always does.... I hope it helps!!! I try to remind myself of this every day.:crap:

This is great advice/ Most of the time consistency is more important than anything else. Also, I think it is very important to limit your losses on a daily basis as well. As long as your losses are less than your gains you are on the right track.. Having that feeling of making your money back can really hurt you. Knowing when to stop is vital. Thanks for the input!

Very intersting video and so true about training psychology and mental rehearsal. The problem I have is to practice the mental rehearsal before I trade. I struggle with that part of the discipline a lot. I am really trying because I know what difference it makes.

If it is not too late, check out this site Trading Computers for Day Trading & Stock Trading, EZ Trading Computers For Sale

Thanks for all this backup information. I also trade stocks and it is always challenging and ever changing. Besides, controlling your emotions and having a discipline is one of the most important things...regardless of what you trade. :missy:

I agree with your quotation and I do because there are a lot of people out there who believe that trading is easy and they are looking for a get rich quick type of scenario. A lot of people start trading with this in mind so they start gambling in the market. They want to make it a Vegas experience. As far as the schools, I also agree, most of them promise a lot!!! but ultimately is the students choice to believe it or not. Education is always good but then it is up to the student to apply what he or she has learned. I think what happens in trading is that there is no mercy in the mkt. You make a mistake and it is tangible, right there in the moment. In any other industry or job, people get second chances but the market does not forgive so yes the chances to succeed are slimmer. Now, this is not to imply that it is impossible. Jessy Livermore went bankrupt 4 times before he finally said he figured it out. He was obviously a very exceptional case. I think what made him successful is his ability to learn from his mistakes and that is something vere few people do. Besides learning the trading technique I think that the psychological work that needs to be done is far more important. You can know all you want about indicators, strategies, etc, but if you cannot control your emotions, all your knowledge goes out the door. I truly feel that the mkt is capable to bring the worst and the best of us in a split of a second. I think that the ability to recognize what we did wrong and right will make us better traders but you have to be open....

"Those adapters work well but you have to remember that laptops have been optimized for minaturization, not power and speed...their processors tend to be slower.. My friend Eddie Z talks about it in his free guid to trading computers Trading Computers, Day Trading & Stock Trading Computers, Mulitple Monitors

Very interesting points. I think that one possible answer is having rules. Rules will be the main guide in the market. I am a day trader, so one of my rules is: As soon as I buy a stock, I put a stop loss. This keeps me sane and without guessing. If a stock is going to work, then it needs to meet all the conditions at the time of the trade. If it doesnt work, I am out and that is the end of it. I cannot over analyze it because I will go crazy. I will, however, think about the reasons why it didnt work. Maybe the mkt is going the opposite direction, maybe it doesnt have the right volume, or maybe I am just too early. I think we all have a pain tolerance in every aspect of our lives. The market is no different. As a day trader that is another one of my rules. If any given day, I am down X, then I am out. Obviously I am not doing something right and maybe it is time take a look at the big picture. The worst thing to do is to over trade, so I have this rule to keep me from doing that. Rules, rules rules!!! I really think that we are disciplined to follow them, it makes life so much easier. Again, this can be applied in many aspects of our lives.

You are right about the mass manufacturers. Also, I do would take into consideration customer support and warranty. I have heard good things about EZ Trading Computers.