Thursday, September 11, 2008

Trading Secrets Overload

There is so much Investment/Trading information on the Web - it seem everybody has the BIG SECRET TRADING STRATEGY - and they will share it with you for a few Dollars. A person can go broke just paying for courses, mentors, trading software, charts and that's before you even start.

Does any of it work more than 1/2 the time?

After 25 years in the markets, Forex and Equity, I have my favorite indicators which work for me. (TICK, Crossing SMA's, Bollinger Bands, etc.) But there is NO magic formula. I give new traders the basics, point them in the right direction, and let them figure out what combination works for them. The successful beginners, are hyper motivated, do extra research, have lots of questions.

The trick, I think, is identifying your style or trading personality as soon as possible and focusing only on the indicators and strategies that support that style.

Consistency in performance is the key to a career in Trading.

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