Paying for Information and Education

[wayneL]

Surely the Market should dictate approach/timeframe!

What I mean is that some people are into day trading, some into longer term trend trading, some into market neutral strategies.

All can work well. A persons psychology probably means they might be better at one of these than the others.

eg daytrading - some can't make it work, others spectacularly successful. What's the difference?

It has to be an individuals emotional attributes and challenges.

 

[Trembling Hand]

I have been day trading shares for about 18 months now and after a shakey
start I am now doing OK. I want to trade options. Can any one recommend a
good beginners book.

I don't see how day trading options is possible on the ASX. Spreads way to big. Movements way to small. Transactions way to few.

Why are you looking at oppies if day trading look at CFDs, Futs or FX for leverage.

 

[wayneL]

I don't see how day trading options is possible on the ASX. Spreads way to big. Movements way to small. Transactions way to few.

That's very true. But it doesn't stop one particular clown flogging a course for ~$20,000 that reckons you can.

I won't publicize him by providing a link

 

[Frank D]

All can work well. A persons psychology probably means they might be better at one of these than the others.

eg daytrading - some can't make it work, others spectacularly successful. What's the difference?

It has to be an individuals emotional attributes and challenges.

I totally agree, and more so with a persons own limitiations.

Limitations can be; psychology, no proven method, or a number of
reasons that could simply be based on a person's screen time.

If someone works during the day then they won’t have the luxury to
trade minor intra-day indictors during the day, so they would focus on
higher timeframes.

I trade US markets, but I don’t sit in front of the screen trading it. Most
of my trades are limit entries, but I still focus on day trades or hold
positions into the next.

This has nothing to do with the market, it has to do with my own
limitations, which is my current timezone and love of sleep.

However, the market (Trend/support/resistance) does often provide the
set-ups which can dictate and should dictate a person's approach...

Which in my case is heavily influenced by the movement of Price within Timeframes (Trends/Support/ & resistance) Entry-HOLD or FOLD.

 

[Mr J]

It all sounds nice until the realization that redistribution of wealth involves taking money earned by one person and giving it to another who hasn't, all under threat of violence and/or incarceration.

Of course. It's a tough shift to make, which is why it must be forceful or extremely gradual. Those who have wealth and power naturally do not want to give it up. It's a problem in any system.

 

[wayneL]

Of course. It's a tough shift to make, which is why it must be forceful or extremely gradual. Those who have wealth and power naturally do not want to give it up. It's a problem in any system.

Which leads to the Achilles Heal of Socialism - Why would the producers be productive only to have the results taken from them.

The producers either leave or become less productive. The non productive, while being the recipients of this "largesse" have no motivation to become producers. The economy as a whole produces less and less, increasing and crystallizing poverty.

But we are getting off topic here. If you want to continue this line of discussion, we should open a new thread.

 

[motorway]

From each according to his ability, to each according to his need

Do you want to be a slave or a free person ?

This is how a slave owner treats his slaves

He determines ability and need

and a whip to make it so...

Capitalism is the same..
Only it is as Free People that each can decide
ability and need.... And trade with these with like minded other free people.

The minute Someone decides for you = Tyranny and slavery.

Can you hear the southern Slave owners on those cotton plantations

Justifying the STATUS QUO becaue they knew best , and what was need and ability.

Anyone asks you to sacrifice for the greater good----RUN
esp if they hold a whip...

motorway

 

[ozbecool]

It all sounds nice until the realization that redistribution of wealth involves taking money earned by one person and giving it to another who hasn't, all under threat of violence and/or incarceration.

Hey guys - please keep your posts to the topic "Paying for Information and Education". All this socialism etc stuff does not belong to this threat

 

[Timmy]

And pink writing does?

 

[Tradesurfer]

As others have said, read some books first. Jack Schwager's Market Wizards Series. John Murphy's technical analysis of the financial markets etc etc

Beware of any service that claims 40,000% returns and the like.

Ask for free trials. While I do coaching myself I have no problem with people doing a free session to see what its all about. Those with nothing to hide shouldn't either.

Now do understand that individuals have spent money and effort in producing materials and they do have value, but as was said in another post, beware of the "middle aged people having the time of their life trading in front of a computer commercials" which I thought was pretty funny.

But seriously, getting some education on your own will help you understand what you need to work on and subsequently what you might want to pay for.

Good luck as its a great endeavor to undertake and your going to experience a steep learning curve which is great!!

cheers

Derek