Education - what do you do?

[It's Snake Pliskin]

Hi all,

I'm interested in how most people are educated or educate themselves with regards to trading. Why and why not?

I basically read books, books, books, forums, online free sites and talk to people I know. I question what I hear and read and pick systems piece by piece to understand them. I don't believe in courses for beginners and would only take a course to formally understand more complex trading such as warrants, foreign exchange etc. (maybe oneday I'll consult moneytree - he seems to have it sorted)

I feel beginners should read about the different types of investing and trading to determine what would suit them rather than just take a course.

Maybe some of the more experienced people could share their thoughts here too.

Snake

 

[crash82au]

Books, online resources(forums,articles,asx,nyse etc..). Started buying The Australian and Shares magazine - I wouldnt really consider these educating me on 'how to trade', its more of a try and stay upto date with the market and see how relevant media such as papers can influence the market.

Danial

oh and Milk Man too.

 

[happytrader]

Hi Snake

I come from a trading family. That example alone taught me that trading the stockmarket to make money could be done. I also don't remember either of my parents spending much time or conversation on it. It was never at the forefront. Secondly, they only used the newspaper and later on teletext to check their prices. Neither of them are computer literate but obviously that has no bearing on their results. They have traded for over 40 years starting at a time when they had nothing but commonsense and some advice from the family Doctor who told them 'Woolworths is doing well' and to watch it. I think another important trait is they were never averse to smart risk after all if you are already at the bottom of the barrel there really isn't much further you can sink.

I took a course where I was taught an excellent entire system in 3 days from the best. Naturally a 3 day course doesn't make anyone an expert. More importantly trading has taught me about myself and opened my eyes to some home truths. Its taken me years to trust my TA skills obediently and consistently. Its spooky and frightening how perceptive you get. But hey I know for a fact that happens in any discipline you stick with long enough - just ask Dr House. (favourite show of mine).

I reckon the very best way to learn to trade is to do some serious begging to a real trader so you can model their behaviours. If that is not likely to happen learn a complete system from a successful trader and follow their instructions to the letter and try not to put any of your own personality into it.

Cheers
Happytrader

 

[Milk Man]

Books, online resources(forums,articles,asx,nyse etc..). Started buying The Australian and Shares magazine - I wouldnt really consider these educating me on 'how to trade', its more of a try and stay upto date with the market and see how relevant media such as papers can influence the market.

Danial

oh and Milk Man too.

See message below dude. Well I did tell him to buy BGF at 24c and gold at 430/oz so...

What ive done so far is:
Read heaps of books and forums.
Asked heaps of questions (theyre good here: very patient).
Get background info off any source possible (may come across a buffet pick). Got software and mucked around with chart lines and indicators.
Backtested heaps of ideas to see what works and when.

Thats for the last 12 months a few hours a day. Havent 'traded' as such (probably a good thing) only ever 'bottom drawer' stuff. I can see why people fail at this game as im still picking up flaws in my ideas. I probably always will; just hope none of them are fatal (to my money that is).