Thread: What is the most important piece of advice youve received?

The best information: Trade small and think about risk/reward. You'll have a small lose if the trade goes against you. If it works out nicely, you win big.

'A fool and his money are easily parted'

Do not think concerning profit, think in terms of first risk so that if SL is hit, you are extremely comfortable with that loss and take proper position.

Originally Posted by ;

3 advices changed the way I look at market forever. They advised me in my research and also help me constuct a profitable scalping/trading strategy: 1- Learn to trade with no charts. 2-You must set a line in the sand. The most important: 3-Buy when it goes up and sell as it moves down.

Hi vincelev I must acknowledge your have put down something that I have always dreamed of for long,long time and set it in practice....YOU MUST PUT ALINE IN THE SAND,BUY WHEN IT GOES UP AND SELL WHEN IT GOES DOWN. The toughest part is the line ,will u be and elaborate to me in which you've been putting it?FILE_1_EXTENSIONks

Originally Posted by ;

'A fool and his money are easily parted'

No lack of these in markets.

There's the plain fool, who does the wrong thing in any way times anywhere, but there's the Wall Street fool, who thinks he must trade all of the time. No man can always have adequate reasons for buying or selling stocks daily or knowledge to make his play an intelligent playwith.

The tyro knows nothing, and everyone, including himself, knows it. But the next, or second, tier thinks he makes others feel that way also and knows a excellent deal. He is the sucker, who has studied not the market itself but a couple of opinions about the market made by a still higher tier of suckers. The second-grade sucker knows how to keep from losing his cash in a number of the methods that get the beginner. It's this semisucker rather than the 100 per cent article who's the authentic all-the-year-round support of their commission houses. He continues approximately three and a half a year on an average, when compared with to thirty weeks, which is the normal Wall Street lifetime of a primary offender. It's naturally the semisucker who is quoting this game's rules and the trading aphorisms. He knows the don'ts that ever fell from the oracular lips of those old stagers excepting the one that is principal , which is: Don't be a sucker!

People who cant do... teach

Originally Posted by ;

Noobs, read this before you make your initial live commerce: Try to make your first trade in that markets Extreme high or low.


Intense extended markets are simpler to ascertain that the upcoming huge movement. Think rubber-bands and mean reversion. If you discover a market that is about to become over-stretched, assess what a majority of these monsters are doing, set up your order and hope for the best. If you get the outcome,your account is going to have a cushion to consume a stop outs while you continue learning and growing.

That is really pretty good advice.

There's a paradox with extreme moves, they look the riskiest to take (against them) but the risk is frequently modest, or at least a lot smaller than one would think.

Caution against carrying them in a distinctly flowing market, better in some sort of range market or if the extreme takes out a high/low (on a higher stage ) or is a large re-test level.

As Dio says, you have got to put your commerce on and hope for the best (that is what trading is about, hoping for the very best with reasonably smart trades). If/when these trades go there's a tonne of cash that will cushion you and to be made.

Trading extreme risk moves is also my number one bit of advice re this danger - DO THE HARD THING.