Skip to Content
Last modified by Drunk Monkey on 2022-12-28 09:56
From version 3.1
edited by Drunk Monkey
on 2020-07-13 15:32
Change comment: There is no comment for this version
To version 3.2
edited by Drunk Monkey
on 2020-07-13 16:10
Change comment: There is no comment for this version

Summary

Details

Page properties
Content
... ... @@ -5,20 +5,52 @@
5 5  == {{id name="Part1"/}}Part 1 - Where Would I Focus ==
6 6  
7 7  1. Don't Seek the Approval From Others
8 -People will not understand and will impede your progress with negative reinforcement.  No one cares, or will be jealous of what you are trying to do.  Do it for yourself, not for anyone else.
8 +- People will not understand and will impede your progress with negative reinforcement.  No one cares, or will be jealous of what you are trying to do.  Do it for yourself, not for anyone else.
9 9  11. Family
10 10  11. Friends
11 11  11. Co-Workers
12 12  11. Strangers
13 -
14 14  1. Learn Risk Management First
15 -You will lose money.  That's the only guarantee.
16 -11. Appreciate % Over $ Gain/Loss - the dollar amount doesn't matter as much as the %
17 -11. Learn to Limit Trade Frequency - Don't turn a win into a loss.  The more trades you make, the more losses you will get
18 -11. Avoid Short Term Into Long Term - That's a good way to turn a winner into a loser. Stick to your rules and targets.
19 -11. Be Content With Enough -
14 +- You will lose money.  That's the only guarantee.
15 +11. Appreciate % Over $ Gain/Loss
16 +- the dollar amount doesn't matter as much as the %
17 +11. Learn to Limit Trade Frequency
18 +- Don't turn a win into a loss.  The more trades you make, the more losses you will get
19 +11. Avoid Short Term Into Long Term
20 +- That's a good way to turn a winner into a loser. Stick to your rules and targets.
21 +11. Be Content With Enough
22 +- Like #2, you're going to push your luck and lead to more losses.
23 +1. Prevent Life Imbalances
24 +- What's the point if you're ignoring your family?  This profession will suck your life away.
25 +11. Manage Family Time & Schedule It
26 +- This should always be first
27 +11. Keep a Study & Trade Schedule
28 +- You don't want to become an addicted gambler.  Keep a schedule.
29 +11. Off Days are OFF Days
30 +- Stick to it, or you'll lose your family time bit by bit
31 +11. Be Patient With Your Development
32 +- Be realistic with your goals, but it takes time.  But it's not worth what you will lose, and that's time you cannot get back regardless of the amount of money you earn
33 +1. Stop Buying Retail Logic & Tools
34 +- Retail logic is designed to make you fail, so why buy them?
35 +11. Stop Wasting Money On Books
36 +- They don't have the secret.  Good books? Consider (need to check all these references)
37 +111. For money management, everything from Ralph Vince and Ryan Jones, the do a lot of "optimal f and kelly criterion" (check, not sure what this is) - advanced topic
38 +111. "How Many Million Dollars Trading Commodities Last Year" a 70's book from Larry Williams, most of which is still relevant - teaches about smart money and how it influences the market
39 +111. Trading for A Living by Al * Elder
40 +111. Market Wizards 1 and 2 just for inspiration
41 +111. Street Smarts by Linda ?Rash and Larry Conners
42 +111. Technical Analysis of Financial Markets - John Murphy - Retail Traders bible - do the opposite of this and you will find the charts more fun to watch because of the high degree of failing.
43 +11. Avoid Looking for Hot Hand Gurus
44 +- you won't make money doing this.  At best, you'll become codependent instead of a thinking trader
45 +11. Become Your Own Signal Generator
46 +- you have to learn, and then trust your own judgement, otherwise you end up stuck looking for someone else to tell you how to trade - and that'll lead to further losses.
47 +11. Be Willing To Lose... A Lot Early On
48 +11*. it's part of the learning and you don't know what you're doing.
49 +11*. It's unavoidable and you'll be wrong a lot.
50 +11*. Don't trade with live funds until you know what you're doing.  You cannot lose money this way.
51 +11*. Losing is normal.  Control them, and over time you'll make more than you'll lose over the long term
52 +11*. It's ok to lose, as long as you continue learning to avoid the mistakes you previously made
20 20  
21 -
22 22  == {{id name="Part2"/}}Part 2 - How Would I Study ==
23 23  
24 24  * blah