Trader_Bill

Hey fellow traders,

Glad to be part of this community with the hope of becoming a successful trader,while I am not new to the markets I am new to the approach of using price action to trade from.

My introduction into the stock market was a painful one dating back to just prior the tech bubble bursting in 2001,to make a long story short....I lost alot of money once the markets crashed and ended up chasing my stock all the way down in the hopes of lowering my average cost so that I could get out at or near breakeven of which never happened because my stock ultimately filed for bankruptcy (Nortel anyone).

In any case I have learned a great deal from that experience which has resulted in me taking a new view towards investing and the markets in general.


Shoot... I first discovered you from over at informed trades and noticed right away that you stood out with your trading knowledge and I must say I was impressed with your live trading videos and follow up explanations to them.


I am just learning to navigate on this site,sorry if there are any errors on my part.

Congradulations on this site and look forward to taking the Pro Course shortly.

Shootanappleoffmyhead

Hi Bill,

Welcome to the community and we're glad you decided to start a journal. It's a great way to get to know people and for a feedback loop that everyone can benefit from.

All too often we hear stories about rocky beginnings in markets, but with the advent of places like tradingapples.com we hope to improve the learning curve on that front, and in fact have already seen this happen many times with our members.

So again, welcome and if you have any questions or comments please share. It keeps the community lifeblood flowing. Looking forward to having you as a part of the Pro Course community as well.

Shoot

__________________
Memoirs of a Day Trader by Shoot ~~~~~~> The Pro Course

mattman

Welcome to the community.

Trader_Bill

thanks for the welcome guys.

Shoot I have a few questions regarding what would appear to be random moves on a chart(smaller time frames),but I 'll take the course first and see if they are explained through the insight you provide in the course.

thanks again and look forward to participating in this community.

Shootanappleoffmyhead

Hi Bill,

I'd be glad to answer any questions you have.So even if it is covered in the Pro Course in one form or another we can always discuss it here on the threads.

Take care,
Shoot

__________________
Memoirs of a Day Trader by Shoot ~~~~~~> The Pro Course

Trader_Bill

Hey thanks Shoot


You know I wanted to mention that I went out and bought the book "Trading in the Zone" on the count that you had recommended it for the psychological aspects of trading and how it helps raise awareness for many aspiring traders that psychology plays a big part in trading. I just finished reading chapter 7 and Mark Douglas has really hit home on something when he points out that traders should anticipate that anything and everything can happen at any given moment in the markets and that traders should detach themselves emotionally from a trade that goes against them.

With that being said,I can now see why many traders blow their accounts when they fail to implement money management rules,that I would assume are psychological in nature because they may think that any moment now the trade will turn in their favour and eventually they realize that it didn't after having endured a hefty loss in their trading account.

In my opinion a stop loss removes the emotional conflict that a trader may be prone to as a result of being human.

it's a great read Shoot

thanks


Bill