Tuesday, July 27, 2010

Learning how to become a successful trader


I was asked today on how one can become a successful trader, what technical indicators to use, what method works best.

It so happened that one of my trading companions sent me something on the same subject. There are 3 of us in the room, we call ourselves 'The Bralerhood'. Anyway this is a comment that the blogger eminiplayer copied and posted in his blog, from another trader, Ziad. Succinct and very poignant words, basically to be successful, it is not a case of the magic setup, indicator or potion, but through a hard process of observation, doing, making mistakes, observation etc etc until one gets to know the markets and embrace the uncertainty and ambiguity that comes with participation in these 'herds' that are made up of bulls and bears. And the bralerhood agrees with Ziad whole heartedly.

Read Ziad's take on how to become a successful trader, as posted by eminiplayer.

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"There is the plain fool who does the wrong thing at all times anywhere, but there is the Wall Street fool who thinks he must trade all the time."J Livermore Manchester City FCl Crude Palm Oil

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THE END OF AN ERA

From Dragons and Bulls by Stanley Kroll
Intro and Foreword
The Importance of an Investment Strategy
5 The Art of War, by Sun Tau (circa 506 BC) and The Art of Trading Success (circa AD 1994)
That's the way you want to bet/a>
Long-term v Short term trading
Technicals v Fundamentals
Perception v Reality
Part 1: Winners and Losers
Part 2: Winners and Losers
Sun Tzu: The Art of War
Those who tell don't know, those who know don't tell
Why there is no such thing as a "bad market"
The Secret to Trading Success
The Experts, do they know better?
Risk control and money management
Good advice
The 'good bets' business by Larry Hite
Don't lose your shirt
Ed Sykota's secret trend trading system