Something I want to say to anyone new here (or to trading)

[Reaver 10]

Hey everyone...

 

Recently there was a somewhat cataclysmic post in regards to a certain vendor and arguments against their viewpoints. While those details are not important, something that I said in the now (rightfully) deleted post is worth repeating:

 

Never let anyone tell you that you cannot learn trading without paying for some sort of service or course. Never never never let anyone short change your intelligence like that. Before you pay one cent to anyone for their trading courses or anything of the sort, start here at TL and dig in to the great educational material here.

 

There are many many aspects of trading covered, pretty much anything you're looking to learn about, someone here seems to know....so look for posts about subjects that interest you...and if you don't see anything listed, then start a thread and someone will add what they can to help.

 

This forum is an excellent utility to learn about trading as well as share your ideas with others and have a camaraderie that can definitely instill a sense of confidence, as, by the very nature of a discussion forum, you will have engaged in the socratic method while reading the posts.

 

Please utilize the excellent material here to get started, check out the videos, and if you're looking for books- check out the book review section to see what others here think if you want unbiased opinions.

 

If you have spent any time on the other "trading forums" out there...you will quickly appreciate the vast difference that Trader's Lab provides.

 

Before you spend a penny on a vendor promising you the world, also understand that even if they tell you everything they know about trading (which may or not be much) you will never TRULY understand trading from the inside out unless you really dig in, and ask questions and bounce ideas off others to distill your methods.

 

While the opinions of others (even on this forum) will never be the answer to your trading...by reading and discussing and interacting, you will be able to drastically increase your understanding of how it all works.

Ben Franklin once said: Tell me and I forget. Teach me and I remember. Involve me and I learn.

Once again, the point to take home is that if you don't believe in yourself enough to know in your heart that you can in fact teach yourself to trade, then all is lost already. You must have the confidence that comes with truly understanding what you are doing. Warren Buffet once said that true risk comes from not knowing what you're doing.

 

The main cause of fear is not understanding what you are doing. You will always have a sense of apprehension when following someone else's opinion that you haven't found to be true for yourself.

 

This place is a great start.

 

I'll leave you with a quote from Siddhartha Guatama (Buddha)

 

"Do not believe in anything simply because you have heard it.

Do not believe in anything simply because it is spoken and rumored by many.

Do not believe in anything simply because it is found written in your religious (trading) books.

Do not believe in anything merely on the authority of your teachers and elders.

Do not believe in traditions because they have been handed down for many generations.

But after observation and analysis,

when you find that anything agrees with reason and is conducive to the good and benefit of one and all,

then accept it and live up to it."

 

Good trading.

 

- Nate

[feb2865 10]

Great Post

[Reaver 10]

Thanks Feb. I feel strongly about this sort of thing....

[PYenner 10]

Involve me and I learn.

Yep, nothing short of full immersion.

Cheque book won't buy it.

[Reaver 10]

I totally agree with you there.

[MC 10]

Great post.

I agree that if someone doesn't/can't/won't put in the screen time, a seminar or paid mentorship won't mean crap.

 

And if you can't get your setups from this site and pay your market tuition you won't make it anyhow. The setups on this site are easy enough for a pretty new trader to make some green but the key is learning market flow and putting in the screen time. It's not so much brains as it is dedication and refusing to give up IMO.

[Reaver 10]

Exactly,

 

the point I am going for is that a lot of the information here is just as good as many vendors I have seen...and its free. (I of course, encourage everyone here to consider a premium membership to show your support).

 

Take the information here and elsewhere, filter it against your beliefs and goals..take what is useful, discard the rest, and eventually you will have a method that you have distilled and built from the ground up, so you will truly understand and believe in it.

 

Just never fall for the trap that just because the information is expensive, that it is better than free information. If it was that damn good, chances are they wouldn't be selling it.

[jim2000 10]

Great Post!

 

I totally agree with everything you say.

 

I'm not trading futures yet, but I'm here to learn, and then when the time is right I'll make the jump. The videos posted have been invaluable. To be able to watch just one or two actual trades as they are playing out has been a tremendous help to me.

 

I've taken some concepts I've learned here and applied them to a couple of trades in the last couple days and both have been winners. I'm getting much better entries and that provides more options on the exits.

[mister ed 10]

Great post Reaver. I would almost go one step further and say

that there is enough information on this forum, and some others,

so that there is no need to buy any trading-related books...

 

A great advantage this forum (and some others) has over a book is

the ability to ask questions, engage in debate, amend viewpoints, adapt

to new information, and to engage.

 

Note I said almost, I reluctantly admit there some books out there that

are useful too!

[Reaver 10]

Great post Reaver. I would almost go one step further and say

that there is enough information on this forum, and some others,

so that there is no need to buy any trading-related books...

 

A great advantage this forum (and some others) has over a book is

the ability to ask questions, engage in debate, amend viewpoints, adapt

to new information, and to engage.

 

Note I said almost, I reluctantly admit there some books out there that

are useful too!

 

I agree with you there....there are very few books out there that are really groundbreaking......other than that, this place is pretty much one stop shopping! Like a trading 7-11!

[feb2865 10]

I would like to add that traders here threat each other with respect and we all have as a goal to keep the integrity of the site.

 

Thanks

[walterw 10]

I would like to add that traders here threat each other with respect and we all have as a goal to keep the integrity of the site.

 

Thanks

 

unless you go to the rants seccion jejejej.... cheers Walter.

[Reaver 10]

I would like to add that traders here threat each other with respect and we all have as a goal to keep the integrity of the site.

 

Thanks

 

I agree Raul,

 

and I think that makes a HUGE difference in the quality of the forum...as well as the credibility of the posters....

[Reaver 10]

unless you go to the rants seccion jejejej.... cheers Walter.

 

ha ha, is that place pretty happening these days? I'll have to drop by and stir up some trouble....:o

[Soultrader 12]

I would like to add that traders here threat each other with respect and we all have as a goal to keep the integrity of the site.

 

Thanks

 

Thank you very much Feb. Respect for others and posts is the main reason we have been able to maintain a quality board. It has been a truly great experience running this board and the atmosphere the members have created here. Thank you all.

[james_gsx 16]

I know a lot about the market, how it works, setups, etc. But, I am still not the trader I want to be and I know how close I am.

 

What is holding me back? It's quite simple... I don't spend enough time in front of my monitors trading everyday. I know once I start trading more and involving myself more and more, then I will move to the next step.

 

It sucks when you know you're that close, but so far away.

[namstrader 10]

For sure Reaver,

Just the moment you allow someone to influence you against what you think is right, you lose that confidence in yourself that inspires

courage and carries with it all the forces which courage creates.

Just the moment you begin to swerve in your plan you begin to carry

out another's thought and not your own. You become the directed

and not the director. You forsake the courage and resolution

of your own mind, and you therefore lack the very forces

that you need to sustain and carry out your work.

Instead of being self-reliant you become timid and this invites failure.

When you permit yourself to be influenced from your plan by another,

you are unable to judge as you should, because you have allowed

another's influence to deprive you of your courage and determination without

absorbing any of his in return so you are in much the same predicament, as

you would be in if you turned over all your worldly possessions to another

without getting "value received."

 

No more chat rooms or gurus' for me. I have realized the same that self education and immersion into the abyss and darkness of the unknown is where my second coming will emerge, with wisdom that translates into a self expression that contains confidence and trust in my own judgments that leads me toward my vision, becoming a master trader. Read Kiev's book "Trading to Win."

 

Screen time and years of playing in the trading sandbox, I will grow up. How else could it be? aint no help outside the self. Seek it outside and this is from doubt of self. Develop confidence and self trust. The Higher self never distrusts. Ya get there alone.

 

Trader X said "We are dancing with lions when trading.

Most successful traders say that Survival is the first key to success.

Stop searching and start focusing". And also "In the final analysis, it’s not about money; it’s about evolving. Those who don’t are food for those who do. Sooner or later everyone gets a chance to be both. Just do yourself a favor and never stop evolving. I would like to meet you. Otherwise, I will

eat you."

[torero 10]

Excellent post, Reaver, very insightful. I think books do teach us something but only "after observation and analysis..." This is where most people throw the book out the window. As soon as they finish the book, they start trading the strats without verify it works or not on paper (I was this same hick once). I still rely on books for ideas and research, lots of research and analysis to make sure there is truth in what the author claims.

[Reaver 10]

For sure Reaver,

Just the moment you allow someone to influence you against what you think is right, you lose that confidence in yourself that inspires

courage and carries with it all the forces which courage creates.

Just the moment you begin to swerve in your plan you begin to carry

out another's thought and not your own. You become the directed

and not the director. You forsake the courage and resolution

of your own mind, and you therefore lack the very forces

that you need to sustain and carry out your work.

Instead of being self-reliant you become timid and this invites failure.

When you permit yourself to be influenced from your plan by another,

you are unable to judge as you should, because you have allowed

another's influence to deprive you of your courage and determination without

absorbing any of his in return so you are in much the same predicament, as

you would be in if you turned over all your worldly possessions to another

without getting "value received."

 

No more chat rooms or gurus' for me. I have realized the same that self education and immersion into the abyss and darkness of the unknown is where my second coming will emerge, with wisdom that translates into a self expression that contains confidence and trust in my own judgments that leads me toward my vision, becoming a master trader. Read Kiev's book "Trading to Win."

 

Screen time and years of playing in the trading sandbox, I will grow up. How else could it be? aint no help outside the self. Seek it outside and this is from doubt of self. Develop confidence and self trust. The Higher self never distrusts. Ya get there alone.

 

Trader X said "We are dancing with lions when trading.

Most successful traders say that Survival is the first key to success.

Stop searching and start focusing". And also "In the final analysis, it’s not about money; it’s about evolving. Those who don’t are food for those who do. Sooner or later everyone gets a chance to be both. Just do yourself a favor and never stop evolving. I would like to meet you. Otherwise, I will

eat you."

 

Great post! I am going to have to check that book out! See everyone I am buying a book, for merely for insight to add to what I already have in my head from ny own understanding and studying.

[Reaver 10]

Excellent post, Reaver, very insightful. I think books do teach us something but only "after observation and analysis..." This is where most people throw the book out the window. As soon as they finish the book, they start trading the strats without verify it works or not on paper (I was this same hick once). I still rely on books for ideas and research, lots of research and analysis to make sure there is truth in what the author claims.

 

I totally agree with you....I think we were all that person at one time or another!

 

That's pretty much how it starts though...and the tenacious and intelligent ones are able to break free from the ignorant masses.

 

Thanks for the kind words.