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Old 06-05-2005, 02:36   #8
honeyeater
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Re: When will a lot of you guys learn?

Currencia,

Without wasting time looking up blind alleys (plenty of that here), what would you describe as being the roadmap to success as a trader?

First and foremost, I would see the first step is the learning of the mechanics of trading. No problem there. Open a demo and go for it.

Second step...Learn the dynamics of price action and the superimposition of Fib ratios and the thousands of other tools available to try and ascertain low risk/high reward entries and exits as price action unfolds.

Third step...Lay down a trading plan that fits one's chosen setup and defined risk management and profit taking strategy.

Fourth step...Enter the live market and test the pscyhological implications of my attitude to trading.

You mention that a lot of time is required to be expended into the act of trading before the confidence and skill level of a trader begins to show returns.

What I would like to do, is shortcut the the trial and error method of going hither and thither, to just find to find a course or mentor who can take one straight to the epicentre where only the necessary info and skills are honed in on.

There is that much information, that many egos crying out for Godly status hoping to fleece the floundering, how does one summarise the journey to the art of trading to maximise the short period of time we are running around on two legs and half a brain?

And thanks for the measured insights and contributions you have made at Moneytec.
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