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thanks, hope help me

(03-24-2014 07:09 AM)bloopoop5 Wrote: [ -> ]this is by no way a proper training, way too basic and superficial.

nice start yes but that is all there is to it.

It will take years to get to a level where you can trade profitably and the leverage effect will kill your account in no time.

If you go thru this "training" thinking you'll make a killing next week or a month from now, it not going to happen.

Not recommended unless you consider it as an intro to the market and build from there.

20 years vet trader talking to you, but of course you do not want to listen, you think U R an exception, go ahead prove me wrong, i'll be more than happy to apologize if you get rich quick.

I couldn't agree more with your assessment- at least the course didn't completely fail as a beginning shot-across-the-bow....

I traded on the floor of the CME until they (effectively) shut it down due to computer trading systems replacing the floor traders. Great money while it lasted. There were trading methods that worked for floor traders 20 years ago, that will never ever exist again --- there is nothing like trading the fear on a local's (pit trader) face when he has too many contracts and the market is melting around him. Guaranteed profits!!!

Trading has been spoken of (correctly) as the hardest way to make an easy living. You profit only because you are willing to trade through all the necessary losers to get to the winning trades. Which better be handled correctly or you won't have enough profit to offset the losers you just took.

And your competition in the market is a closely knit group of professionals who "know" what I just stated, and have the capital and information available to exert their edges.

It is possible to make money on your own starting from a smaller account in the forex and futures markets, but you need an "edge" that you have proven and are willing to exploit despite the long drawdowns that almost certainly will accompany it.

But as bloopoop5 stated: "..., but of course you do not want to listen, you think U R an exception, go ahead prove me wrong, i'll be more than happy to apologize if you get rich quick."


AbeLincolnBart

Thanks for this action

proper setup and money management are important but the mental is usually the place where you'll get crushed. The market will keep testing your limits many times a day(if you daytrade) and mess up your head. If you get 10 losers in a row, you'll be so sick and so scared that you'll take a ridiculously small profit on the 11th trades when you could have made tons of money, but no you were too scared.
Fear and greed...continuous inner battle in your mind up until the day you calm down and realised it is a game of numbers, and that your systems must have a positive profit expectancy and that is all there is to it BUT, you think you are smarter, a quick learner and that your mental is rock solid...Eventually you'll realize you are stupid, that you keep making the same mistakes over and over and that you are not mentally fit to survive the continual push/pull from fear/greed.

Tough reality check isn't it?

Forex and now Binaries are very popular but it does not make them easier.
You can succeed yes but it will take years.

The cost?
you will lose a lot of money
you will spend money on books / courses / seminars / chat rooms
you'll lose more money every time you try something new
you'll be spending countless hours after the market is closed trying to understand what went wrong.
You'll most likely end up depressed too
You'll most likely divorce as well
Expect to spend between $50,000 and $250,000 before you get profitable on a regular basis.

Can you afford to trade?
Ask yourself the question because the cost is very high on many aspects of your life. That is my experience it is very similar to my successful fellow friends traders.
It is a very serious commitment with lots of difficult and long periods to finally achieve your goal.

As well in every other fields, if you put time and efforts you will eventually succeed.. not so in trading. Trading is a real b-i-t-c-h will take all your money and F*** up your mind. But you'll get to know you better I can assure you that.
And if you get wiser before you go broke or insane, you'll be rewarded $$$$$$$$$

Excellent post AbeLincolnBart, with you experience you sure have a better understanding than anybody here including me.

DL: