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Steve W:
I am a CPA, well educated and experienced. I went into trading full-time 5
years ago, able to afford (sort of) the learning time. I, however, thought
I was better and smarter than most, cautious and street smart (no pun here).
Certainly I'd have this thing down in a year or so.
Five years later, I'm getting a handle on things. I agree with prior posts:
you can get fabulous information FREE from the web, and the library.
Until you have watched, and lost some (I have kept this part fairly low,
thank God), and watched and studied, until you can get a "feel" for what
you're seeing, and somewhat "understand" what's happening, any serious money
you spend will be a complete waste.
I think until you get to the "feel/understand" part, WHICH HAPPENS ONLY WITH
EXPERIENCE AND WATCHING, any serious mentor or course money you spend is a
waste. You need a feel as to how the market "moves", where it reverses,
context, graph reading, incur losses, various instruments to trade and not
to trade, temperament tolerance, your reaction time, incur losses,
interpretation, control of greed/fear, ability to resist quick solutions,
patience, incur losses, study, reading, trial and error, observation, incur
losses, time frames, losses, more patience, money, more study, losses, more
reading, resist MASSIVE amounts of BS, more correspondence, losses, etc.
etc. etc.... more than enough to have filled five years for me, and I'm just
getting it, finally (I think).
So this, a dose of the straight stuff from one who thought I could by-pass
the route so many others fell into. Trading is a profession and a SKILL,
and like any other, you need to develop that skill, which reaches so many of
the corners and crevices which are you and your own personality. This
lesson will teach you about as much about yourself as you'll want to know.
Its a fabulous pursuit, but one which must be looked at as incredibly long
and tough, but also very, very rewarding.
In short, after putting in your time, you'll recognize which courses are
helpful and which are just hype. Until you know enough to recognize this,
you're not ready for one.
Best of good fortune,
Dave
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