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tradenwaves's blog

Am I Turned Around? What Do You Think?

Recently I was with another trader in terms of sharing some ideas and strategies. I like to do this with other traders because I believe both parties have a lot to gain from it. The market is big enough for everyone to participate and I have never felt ashamed or afraid to offer my finding's and outlook on the market with others. Maybe people will try to exploit it but that's true about anything. If you have a secret that's really that sacred then it's probably illegal. So for me I like to share. Anyway as I have been going back and forth with this other trader I am realizing more and more the importance of each individual trader must be comfortable in their own shoes. What do aI mean ? Well I notice a lot of times people asking for specific rules and I hear a lot of" but what do you do if" kind of statement. How can I tell another trader what to do if xyz happens. That's just not possible. Each trader handled emotions, profits, losses etc etc different. I can not tell anyone how to respond or how to size positions. All I can do is share what experience I have. That brings me to the next point. Experience in trading is very underrated. I get a lot of traders talking about wanting to become profitable within 3 months, 6 months, 12 months 3 years. To be really truly consistent and play this game it's a lot more then a few tutorials and a set of rules unfortunately. MY point here I guess is to stick with it guys(and gals). Follow through on your plans and when you have questions about something your studying, don't be so eager to ask others for the answer. Answer it yourself first as best you can . Then go out and bounce you ideas off others if you want a third party opinion. After all it's your trading, it's your $.

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