# Allow me to introduce myself



## EEE (2 October 2006)

Hi all,

I would just like to take this opportunity to introduce myself to the forum. I was first introduced to options trading through one of the many seminars that are out and about back in mid 2003. I had been saving hard for an overseas trip to be taken later in the year and after the razzle dazzle of the preliminary 2-hour seminar, I was thinking that this would be an easy way to supplement my savings. The presenter told tales of how some of his students were backpackers who pop into internet cafes once in a while, check up on whats going on in the market, place there trades and are kept in beer money for the next month or two. 

When the follow up phone call happened a week later. I happily forked over the $3000+ thinking it would be small fry compared to the lasting benefits. I attended the seminar and tried hard to get all my accounts set up before I left but luckily never actually got into trading because I’m sure that if I had, all my spending money would have evaporated within the first month or two.

Over the past year I’ve tried to get back into the trading game without much success. I ordered a book on CFD’s late last year and was convinced that this was the answer. I promptly lost all my capital within approx two months due to poor money management and risk analysis. I then saved another wad and decided to finally follow up with options trading. The last of this has been whittled away just recently for largely the same reasons as before, it seems that whenever a couple of indicators or patterns show a decent breakout, I can’t see anything but dollar signs and load up on contracts to replenish previous losses. Then when the position starts to go against me, I hang on for grim death hoping that it will turn around and it isn’t too long until I’m left with nothing. 

Anyway, I will start to wind this up now, I have saved up another amount for trading and this time last week I was planning to attend an Optionetics seminar and hopefully this would be the Holy Grail that I had been searching for. However, while doing my due diligence I came across this forum and have now decided that perhaps the following may be a better course of action:

- Join Aussie Stocks Forum
-Buy and read ‘Options – a complete guide for investors and traders’ by Guy Bower 
-Subscribe to Nick Radge’s ‘Chartist’ and paper trade it for 2 months
-Join the ‘Australian Technical Analysts Association’ and attend the monthly meetings with a view to studying their Diploma in Technical Analysis
-Purchase Nick Radge’s Building a Profitable Trading Plan Using Technical Analysis 

Hopefully once I’ve completed these preliminary steps, I will be ready to test the water again. 

Can I conclude by thanking everyone who participates on this forum, you have created an invaluable resource for beginners and those who are just starting out such as myself. Any comments that you could provide regarding continued education in the art of trading would be most appreciated

Thanks

EEE


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## blueroo (2 October 2006)

Welcome EEE.

There are some mighty intelligent people on this forum who have a fantastic ability to put in writing what they are trying to get across and I for one find this forum extremely informative for that reason.

Not to mention the dry humour of some of the resident bears. There are some absolute classics here.


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## RichKid (2 October 2006)

EEE said:
			
		

> Hi all,
> 
> I would just like to take this opportunity to introduce myself to the forum. .......................
> ...............
> ...




Welcome to Aussie Stock Forums EEE!!

Glad to see you've been through some of the threads here already and I'm pleased to see that you have realised some of the mistakes you've made, I hope you will try to avoid repeating them (easier said than done, I know- mugs like me are living proof of that!).

There are some threads on psychology here which may be of assistance, may I suggest you consider trading stocks first? but by all means learn as much as you can about options pricing, greeks etc (the Derivatives thread has more than you need). 

Also, I would guard my capital more jealously if I were you and bet small til you figure it all out.

Although I'm not qualified to give financial advice there are many people who are so you could look for someone reputable (Radge is ideal in my opinion) to give you a hand.  You'll also note that some of the expert posters here may have material which may be of use. There are many threads in the Beginners Forum which will be on point for you, take some time to browse through and re-read those threads and try to put it into action. Always make notes and keep accurate records of what you do to help you on your learning pathway.

Good luck and please let us know how you go with things, feel free to contact any of us moderators if you need a hand with admin stuff or general forum usage- the posting guidelines and code of conduct are a starting point.


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## MichaelD (2 October 2006)

EEE said:
			
		

> - Join Aussie Stocks Forum



Good idea.



			
				EEE said:
			
		

> -Buy and read ‘Options – a complete guide for investors and traders’ by Guy Bower



Bad idea



			
				EEE said:
			
		

> -Subscribe to Nick Radge’s ‘Chartist’ and paper trade it for 2 months



Good idea



			
				EEE said:
			
		

> -Join the ‘Australian Technical Analysts Association’ and attend the monthly meetings with a view to studying their Diploma in Technical Analysis



Bad idea



> -Purchase Nick Radge’s Building a Profitable Trading Plan Using Technical Analysis



Good idea


EEE,

It is great that you're willing to give it another go - the more goes you have, the more likely it is that you will eventually succeed.

However, you are far better off trading straight shares first before even considering leveraged instruments like CFDs and options. If you can profitably trade shares, then you have a chance of surviving leverage. If you don't have enough capital to trade straight shares, then you shouldn't be touching options or CFDs instead - you'll only lose your money again.

Analysis will not help you trade profitably. A robust trading plan will. Radge's material will help you develop a robust, profitable trading plan.

Good luck.


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## It's Snake Pliskin (2 October 2006)

EEE,

Please feel free to ask at any time.
Snake :bounce:


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## wayneL (2 October 2006)

EEE said:
			
		

> Hi all,
> 
> I would just like to take this opportunity to introduce myself to the forum. I was first introduced to options trading through one of the many seminars that are out and about back in mid 2003. I had been saving hard for an overseas trip to be taken later in the year and after the razzle dazzle of the preliminary 2-hour seminar, I was thinking that this would be an easy way to supplement my savings. The presenter told tales of how some of his students were backpackers who pop into internet cafes once in a while, check up on whats going on in the market, place there trades and are kept in beer money for the next month or two.
> 
> ...




Just the sort of post to put me in [RANT] mode. (The folks here have suffered through many of my rants about option "educators")

Sorry to hear of your experience, however don't feel alone, it is quite common.

It is possible to do well from options, but MichaelD is right, learn to trade first with normal shares. Do continue learning about them though, just wait till you understand before using them.


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## SevenFX (3 October 2006)

Welcome EEE,

Like you, I've prob learn't some things the harder way, and a $premuim$, but it may serve as a valuable experience when you increase your exposure in time to come.

You have got some key people & valuable members replying to your post with [[very good advice]], and a cost of ZERO, unlike the many $courses$ out there.

Don't get me wrong they are valuable, but at what price....and how quick will they churn you through their system....  

They make more money on education, than they're probably do on shares...????...It is big business....IMO

Most professions take 4-6 years b4 you are qualified and have enough experience to practice your trade in the industry of choice.....this is no different, other than here if you don't get your physchology, money management, risk management & skills right you'll loose money b4 you make money.

Take advantage of this and many forums ($0.00) and if your not big on reading, seek out audio & video material at extemely good value ($30-$100), compared to any course ($2500-$15000) on offer.

Forum members are happy to help each other, and have no financial gain in mind, unlike the course sprookers out there.

The education business is a very profitable business, because there's a lot of people looking to take the short cut to fincinial success.....Just look at franchises on offer.

p.s I am new here, and have got a lot from this forum, and one day hope to contribute a lot.

Hope this helps
SevenFX


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## Magdoran (3 October 2006)

Hello EEE, 

I thought your list of approaches are a sound starting point, and my suggestion to add to your list is some texts on psychology, especially at this point now that you have experienced a loss in the market.  Try reading Mark Douglas “Trading in the Zone”, this will really help.  Recently Lesm put me onto "Phantom of the Pits" (see the “Improving Chart Analysis” thread for a link) which you might also find useful in this area.

The other key area you should consider focusing on is how to build a system (essentially a body of knowledge which embraces how to build trading plans, and the process to trigger entries and exits).  Read through the various threads on this area, there are a whole host of comments to reflect on, but please find what works for you, and be prepared to change it as you grow and develop.

Think about it this way, I believe there are 4 main pillars to trading successfully:  Psychology, Analysis, System, and Strategy.  Like building a solid house, you need all 4 foundations to be sound to build a sturdy structure.

While I generally agree with a caution being given to new players using derivatives, there is nothing wrong with studying them, and if you are interested in trading options effectively, Bower is an excellent place to start.  I suspect you have been reading the derivative threads, and you will find this a good resource for learning.  Also consider accessing the free online tutorials at the ASX website:

http://www.asx.com.au/index.htm

EEE, since you have actually traded options (albeit unsuccessfully), I think it is reasonable to research options while this experience is fresh, it makes sense to me to gain an understanding of a range of aspects, particularly the “Greeks” so you can make sense of your experiences in this field. 

Certainly I agree with comments that it is worth learning how to trade first, develop a system, work on psychology (I have consistently argued that this is the most important aspect for years now), and determine a strategy; but learning options takes quite a while, and the sooner the key concepts are grasped, the more experience can be gained for the future.  The key is to either paper trade to learn how to use them, or trade very small positions, for at least 12 months (maybe you need 24 months, please consider that).

To trade options consistently is much more involved than share trading.  I was talking to a trader I’ve been joint mentoring for a couple of years last night who is learning the school of technical analysis I use, but knows very little about options.  He’s been studying T/A for quite a while now, and it suddenly dawned on him while we were talking that he’s got to put in a similar effort to understand options.  

The initial reaction was, oh no, not back to the drawing board again, but then he grasped that this is a really challenging activity, and you simply must treat it as a professional (just like becoming a constitutional lawyer or a neurosurgeon – or like tech/a says “treat it as a business”).

Good luck in your journey, and please recognise that Rome really wasn’t built in a day, so please do be gentle on yourself.


Welcome to ASF!


Warm Regards



Magdoran


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## nioka (3 October 2006)

My 2 cents worth of advice is to become an investor before becoming a trader. The experience as an investor will not be such a gamble. If you don't know the difference the don't do either until yuo are sure you know the difference. You will learn more on this forum than on most of the " $5000 seminars.


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## barney (3 October 2006)

Hi there EEE, Just want to wish you well. If you follow any of the threads I've been on you will notice that I did similar to you (only I probably lost a lot more through being nieve and uneducated).............Some great advice here.........Tech, Magdoran, Coyotte, Snake, and many others......My advice....be humble, and learn to read between the lines (good onya Snake!!)..........Everyone here has a slightly different "slant" on trading, (and thats the way it should be, cause it's a personal experience, and you need to sort out what works for you).............I have no advice cause I'm not qualified to give it, but if I was qualified, I would say; read as much as you can; listen to what the "smart" people on this forum tell you; Learn Tech/Anal.,(I'm still learning) Ask lots of questions, no matter how dumb they may seem, and until  you feel like the "penny has dropped" with regard to learning, don't accept your own "opinions", because they are probably flawed!!.......anyway, I could ramble on, but I'm sure you get my gist,.............All the best,  Barney.


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## strudy (10 May 2008)

HI, My nickname is "Strudy." One of my passions since the 70's has been trading in the stock market, not always successfully I might add.

The biggest hindrance I have found to trading in the share market was myself and letting my emotions do the trading for me.  Mind you I still get a "Buzz" when one of my stocks goes up through the roof.

My other passion is helping other traders to learn the very basics of trading plus to learn about the *"Emotions"* which even today run riot throughout the market place.

This I achieve by answering questions in this forum and by writing articles. plus I also have two websites where* "Free"*information is available.

The biggest lesson for me has been to realise that I don't know it all, and in this trading game you never stop learning.


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## jersey10 (11 May 2008)

Michael D,

Why do you believe the Diploma in Technical Analysis would be a bad idea?

Jersey10


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## Aido1234 (6 August 2009)

Hi guys,
            thought I might sign up as I may learn a thing or to.I have attempted to trade before back in about 2000-2001 on the SPI. I went into it full time and survived 18months on my first account before going bust.Saved up again and tried to trade, lost most of it again.Then started on stocks for a bit and lost on there as well.Tried to get some help by learning about systems and money management. Traded again did not have a system and took about 11 small loses and stopped. Purchased some software and then realised you had to be a PC programmer to use it.I have now returned on a quest again to become a successful trader.I feel you need to find a successful trader and learn from them first. Any input,thoughts or steerage would be greatly appreciated.

Regards,
            Aido1234.


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## renudiz (21 April 2010)

*Hello Friends*

Hi everyone 

Hi, My name is Renu Diz I'm 22 from Arlington Massachusetts United States  

I have received a lot of inspiration from these forum's users. So a big thank you to all of you.

Looking forward to things to come, and hope that we can spend valuable time in harmony . Cheers from Renu Diz


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## newbie trader (21 April 2010)

*Re: Hello Friends*

Interesting.


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## Wysiwyg (21 April 2010)

*Re: Hello Friends*

Hi Renu.   My gig here is Wysiwyg.  I have a few questions.

1) Are house prices on the rise up your way or is there any growth in the housing sector you have noticed? (They are always rising in price y/y in Australia)

2) Is economic sentiment upbeat and positive? (It is in Australia. Our government representatives are spendthrifts.) 

and finally ...

3) Do you have any older sisters or girl friends that would like to know me?  (Aged early to mid thirties)

Plenty of diverse topics on this forum and most of us are good people (most  but anyway if we don't see you around again good bye and good luck.


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## newbie trader (21 April 2010)

*Re: Hello Friends*



Wysiwyg said:


> Do you have any older sisters or girl friends that would like to know me?  (Aged early to mid thirties)




Bit rich Wy, trying to get girls half your age.


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## baby_swallow (21 April 2010)

*Re: Hello Friends*

_Looking forward to things to come, and hope that we can spend valuable time in harmony _

Hmmm.. this  sound very familiar.....the like the ones I've been receving from time to time on my gmail account....


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## frankie_boy (22 April 2010)

*Re: Hello Friends*



baby_swallow said:


> _Looking forward to things to come, and hope that we can spend valuable time in harmony _
> 
> Hmmm.. this  sound very familiar.....the like the ones I've been receving from time to time on my gmail account....




sounds religious..


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## nunthewiser (22 April 2010)

*Re: Hello Friends*

I got no friends.

 Harmony is for hippies.


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## Solly (22 April 2010)

*Re: Hello Friends*



renudiz said:


> Hi everyone
> 
> Hi, My name is Renu Diz I'm 22 from Arlington Massachusetts United States
> 
> ...




Alas ASF is not Renu's only source of inspiration...

http://freecomputraining.com/tag/arlington-massachusetts/

http://www.webproworld.com/webmaster-forum/showthread.php?100116-Hello-Freinds

http://www.youngcoders.com/php-scripting/34307-hello-freinds.html

http://www.lbpcentral.com/forums/showthread.php?25748-Hello-Friends&p=445801&viewfull=1#post445801

and the links continue...... Dump button ?
utthedoor:


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## Garpal Gumnut (22 April 2010)

*Re: Hello Friends*



renudiz said:


> Hi everyone
> 
> Hi, My name is Renu Diz I'm 22 from Arlington Massachusetts United States
> 
> ...




This has to be Kevin Rudd's doppelganger.

Same crazy syntax.

"My name is Renu, I'm from Massachusetts and I'm here to give you a hand.

gg


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## steptoe88 (22 April 2010)

*Re: Hello Friends*

hmmm? maybe kevin, but not a word on working families?


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## Tony55 (9 August 2019)

MichaelD said:


> Good idea.
> 
> Bad idea
> 
> ...



stay away from these crooks
https://www.aussiestockforums.com/threads/followmetrading-com.34504/


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