igotitgood

Lately I've been experimenting with paper trading. A method recommended in the book "Trading in the zone". The author recommended that if you are just starting out as a trader, you should paper trade the next 20 trades that meet your individual criteria and follow your rules for the next 20 trades, NO MATTER WHAT, (even if you feel tired, or busy or whatever). I think this could be a good method to improve if you've had a recent loss. They say it's recommend it to keep away from making mistakes just out of emotion.

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shmori
shmori Apr 02, 16 10:33 PM

I agree.. I think the best lesson that I have learned is to not rush trades. Look at charts and buy/short at the right support and resistance levels.. Sometimes I jump in too fast to ride the wave and it's not a good idea.

KenKwan
KenKwan May 03, 18 7:39 AM

That's Mark Douglas' book, right? Good man! Also a big lesson in that book -- trading is all about probabilities -- anything can happen in a trade (so let profits run) -- and more!

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igotitgood

After quite a few losses in January I decided it might be good to take a break from trading, and instead re-learn the process. A few of the mentors from profitly had recommended some books to read back at the conference in october. Checked off the list so far are the books "Trading in the Zone", "The Mental Game of Poker", and "Predictably Irrational". Next on the list is "You are the Placebo" by Dr. Joe Dispenza, a book highly recommended by a great friend of mine who happens to have had great success at the game of poker. Can't wait to read, still waiting to arrive! Are there any books you recommend for traders?

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shmori
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shmori Apr 02, 16 10:37 PM

I recommend a great short book.. It's called "New Trader Rich trader" by Steve Burns.. It really had some good ideas on how to be discplined.. Ihaven't finished it quite yet but it's really good.

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