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flipped
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how many hours a day u put in ?? how long did it take u to become a good full time trader counting studying, trying a making mistakes etc?? how much money did u start out with n how much profit u c steady roughly a month when u got good ?? ....short time trading btw
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PCola77
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I'm not a full time trader at all, but here's my story. Started with $7,000, made $10,000 in the first week and was sure this was a great easy way to make money. Pissed it all away over a few months. Reloaded with $30,000 and have been playing with that for over a year.

Took me well over a year to 18 months to get to the point where I felt comfortable buying something and genuinely believing it would go up, as opposed to just hoping another poster was right in their analysis.

I'm mathematical by nature, and an analyst (not for equities) by profession, so I create literally dozens of Excel models that I use to analyize stocks. Have still yet to perfect any of them, but get more comfortable all the time. I believe it's significantly easier for someone like me (analytical mind) to get good at this, and I still feel like I'm a long ways from being good enough to do this full-time.

Hope that helps.

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Machiavelli
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quote:
as opposed to just hoping another poster was right in their analysis.
"HOPE" much like FEAR/GREED is your enemy. Anyways never buy on someone elses analysis or what I like to call "tips" lol [Big Grin] Do your own homework or don't play the game because you will get burnt and you did from what you wrote in this post when you started out. [Roll Eyes]

quote:
I'm mathematical by nature, and an analyst (not for equities) by profession, so I create literally dozens of Excel models that I use to analyize stocks. Have still yet to perfect any of them, but get more comfortable all the time. I believe it's significantly easier for someone like me (analytical mind) to get good at this,
You should seriously read the book >> Reminiscese of a Stock Operator by Edwin Lefevre.
It is the story and trading philosophy's of Jesse Livermore. The Greatest Stock Trader that ever lived. Just in the first chapter of that book you two sound alike. When you read it you will see what I mean.

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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PCola77
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Thanks Mach, just read the first few pages on Amazons "inside view" feature. Definitely sounds like a description of me! A bit busy right now reading for the CFA exam, but maybe I'll check it out in December.
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Machiavelli
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Here's one of my favorite paragraph's from that book:

" A man must believe in himself and his judgement if he expects to make a living at this game. That is why I don't believe in tips. If I buy a stock on Smith's tip, I must sell those same stocks on Smith's tip. I am depending on him. Suppose Smith is away on a holiday when the selling time comes around? No, sir, nobody can make big money on what someone else tells him to do. I know from experience that nobody can give me a tip or a series of tips that will make more money for me than my own judgement."

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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Machiavelli
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Another quote from the book that I like:

"It takes a man a long time to learn all the lessons of all his mistakes. They say there are two sides to everything. But there is only one side to the stock market; and it is not the bull side or the bear side, but the right side. It took me longer to get that general principle fixed firmly in my mind than it did most of the more technical phases of the game of stock speculation"

--------------------
Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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Machiavelli
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yet another quote i like from the same book in regards to paper trading (note: Plunger means like a successful trader in the early 20th century):

"I have heard of people who amuse themselves conducting imaginary operations in the stock market to prove with imaginary dollars how right they are. Sometimes these ghost gamblers make millions. It is very easy to be a plunger that way. It is like the old story of the man who was going to fight a duel the next day.
His second asked him, "Are you a good shot?"
"Well", said the duelist, "I can snap the stem o f a wineglass at twenty paces" and he looked modest.
"That's all very well," said the unimpressed second. "But can you snap the stem of the wineglass while the wineglass is pointing a loaded pistol straight at your heart?"

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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flipped
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okay wow this is weird...im currently reading a beginners guide to short term trading by toni turner my 4th book im on btw lol [Smile] ...and i put it down after i finished reading chapter 2 and writing some stuff down to grab a snack and check up on all stock and i read all 3 of your qoutes then i picked up the book started reading and the first qoute at the top of the chapter the first thing i read was.......

"It takes a man a long time to learn all the lessons of all his mistakes. They say there are two sides to everything. But there is only one side to the stock market; and it is not the bull side or the bear side, but the right side. It took me longer to get that general principle fixed firmly in my mind than it did most of the more technical phases of the game of stock speculation" by jessie livermore .....kinda freaked me out after just reading it in that post like 2 seconds ago lol.....*flipped runs and shuts all his windows and blinds* O_o

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flipped
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anyways back to the books ! im sure i will have some more newb question by the end of the day so get ready for *flippeds lighting round* hehe [Razz]
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Machiavelli
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quote:
Originally posted by flipped:
okay wow this is weird...im currently reading a beginners guide to short term trading by toni turner my 4th book im on btw lol [Smile] ...and i put it down after i finished reading chapter 2 and writing some stuff down to grab a snack and check up on all stock and i read all 3 of your qoutes then i picked up the book started reading and the first qoute at the top of the chapter the first thing i read was.......

"It takes a man a long time to learn all the lessons of all his mistakes. They say there are two sides to everything. But there is only one side to the stock market; and it is not the bull side or the bear side, but the right side. It took me longer to get that general principle fixed firmly in my mind than it did most of the more technical phases of the game of stock speculation" by jessie livermore .....kinda freaked me out after just reading it in that post like 2 seconds ago lol.....*flipped runs and shuts all his windows and blinds* O_o

That is where I first read the quotes.. in the Toni Turner short term trading book.. but then I bought the book Reminisces of a Stock Operator... it was published in 1923 but everything said in it in terms of trading philosophy by Jesse Livermore holds true especially those three quotes... I'm probably the only one on this board who has read that book... from what I can tell... but I am always recommending it to others... The biggest traders of our time have read that book... that tells you something no? ...

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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flipped
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hrmm well i got alot of books ahead of me but i will definatly give that book a look...i want to absorb as much info as i can...i like it when i hear everyones different views on how they trade and what mistakes they made, everyone seem to have a different story to tell you and new little things to learn...i am constently adding onto my *newbie notes* as i go along lol
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Machiavelli
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The best person(s) to hear about mistakes and learning from them to be successful in trading are without a doubt both Jesse Livermore and Nicolas Darvas.

--------------------
Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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flipped
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another thing, Interactive Brokers i hear alot of good things about this broker im in canada and im getting alot of thumbs up for this one does anyone have anyother opinions other wise ?
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IMAKEMONEY
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quote:
Originally posted by Machiavelli:
The best person(s) to hear about mistakes and learning from them to be successful in trading are without a doubt both Jesse Livermore and Nicolas Darvas.

IVE READ EVERYTHING FROM BOTH.AND THERE WINNERS!!!!$$$$$$

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LIFE IS 10% HOW YOU MAKE IT AND 90% HOW YOU TAKE IT!

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