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Jeb3d@xxxxxxx wrote:
>
> I want very much to begin trading but I am completely lost as to where to
> even begin as there appears to be so many books, "systems", software, etc,
> each one claiming to be better than the next. Can anyone point me in the
> right direction? What books to read, brokerages to call, software to
> consider. Has anyone had any success with the Omni software program?
Before you buy any software or call any brokerages, I would read as many
books as I could get on trading psychology and money management. You
should probably brush up on your statistics as well particularly risk of
ruin and statisticaly probabilities of various losing streaks given a
certain winning % and statistical edge.
The first ones I would read would be: Market Wizards I and II (not for
methodology but for attitudes, money management etc.), The Disciplined
Trader by Mark Douglas and anything you can find by Van Tharp (web site
www.iitm.com). I can not stress enough how important it is to develop
sound mentality, discipline and money management before you begin to
worry about where you will enter and where you will exit (methodology).
Becomming a winning trader is a very trying difficult process. You will
NOT be able to buy a winning system, put it in your computer and sit
back watching the money role in. Absolutely do not let those who say
you can fool you. Patience is one of the most important virtues in
becomming a trader.
Scot
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