Comments on: The evolution of a trader http://www.atticmantrader.com/2009/11/the-evolution-of-a-trader/ Trading the worlds financial markets from the comfort of my attic Mon, 26 Jul 2010 11:40:21 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: atticmantrader http://www.atticmantrader.com/2009/11/the-evolution-of-a-trader/comment-page-1/#comment-681 atticmantrader Sun, 20 Dec 2009 23:28:11 +0000 http://www.atticmantrader.com/?p=1049#comment-681 Hi Nadir, Many thanks for your post and sharing your trading journey to date. In answer to your specific questions. 1. Level 2 data. Whether you need level 2 data depends on the type of trader that you are. If you are scalping or day trading then access to order flow can be an invaluable part of the trading strategy. However if you atr more longer term then End of Day data is more than enough 2. Educational Programs. I've only been on a single course since I started trading. This course was recommended to me by a trader friend. This is the only way that I would ever have attended a course. There are so many courses and trading programs out there that are simply designed to line the pockets of those that run them. My advice to you would be to continue to use free resources (websites, book etc) until you have reached a point in your trading where you understand yourself and your trading strengths and weaknesses. Trading is not a subject that you can be taught 'right out of the box' - it can take years to understand how to make money on the markets. My advice would be to keep reading, keep trading, protect your capital and don't spend money on any course unless you've identified a specific need and a course has been recommended to you by someone that you trust. 3. You mention that you 'quickly want to move'. One thing to remember is that the markets will ALWAYS be here. There is NO rush. I am currently taking a break from trading whilst I focus on some personal business. I am in no rush to get into the market as I know it will always present opportunities. 4. I don't currently mentor any traders. I am still learning the art of trading myself. That said, I would be more than happy to answer any specific questions that you may have about any aspects of your trading. Many thanks for the post, and I hope to hear more from you soon AtticManTrader Hi Nadir,
Many thanks for your post and sharing your trading journey to date. In answer to your specific questions.

1. Level 2 data. Whether you need level 2 data depends on the type of trader that you are. If you are scalping or day trading then access to order flow can be an invaluable part of the trading strategy. However if you atr more longer term then End of Day data is more than enough

2. Educational Programs. I’ve only been on a single course since I started trading. This course was recommended to me by a trader friend. This is the only way that I would ever have attended a course. There are so many courses and trading programs out there that are simply designed to line the pockets of those that run them. My advice to you would be to continue to use free resources (websites, book etc) until you have reached a point in your trading where you understand yourself and your trading strengths and weaknesses. Trading is not a subject that you can be taught ‘right out of the box’ – it can take years to understand how to make money on the markets. My advice would be to keep reading, keep trading, protect your capital and don’t spend money on any course unless you’ve identified a specific need and a course has been recommended to you by someone that you trust.

3. You mention that you ‘quickly want to move’. One thing to remember is that the markets will ALWAYS be here. There is NO rush. I am currently taking a break from trading whilst I focus on some personal business. I am in no rush to get into the market as I know it will always present opportunities.

4. I don’t currently mentor any traders. I am still learning the art of trading myself. That said, I would be more than happy to answer any specific questions that you may have about any aspects of your trading.

Many thanks for the post, and I hope to hear more from you soon

AtticManTrader

]]> By: Nadir http://www.atticmantrader.com/2009/11/the-evolution-of-a-trader/comment-page-1/#comment-627 Nadir Thu, 10 Dec 2009 15:29:11 +0000 http://www.atticmantrader.com/?p=1049#comment-627 Hi Atticman, I read your blogs and saw your questions and answer session at money show event. This article is very honestly written, I recognise myself in stage 2 after tradig for around 2 years. Haven't made any money yet, but learning day by day. I just learn to have access to level 2 data from LSE which all professionals use! do you think it would help? I believe in any educational program a need of a mentor is unmissable would you suggest to take any training courses like online trading accademy or some educational day course from Digital look etc. I quickly want to move to next level as I think this is the right time to enter the market before I miss the boat. Any advice or suggestion will be appreciated, even better do you coach people like me? To be trained by a person who has been through all stages and have learned from mistakes would be ideal situation to avoid further big mistakes. Look forward to hear from you soon. Hi Atticman,
I read your blogs and saw your questions and answer session at money show event.
This article is very honestly written, I recognise myself in stage 2 after tradig for around 2 years. Haven’t made any money yet, but learning day by day.
I just learn to have access to level 2 data from LSE which all professionals use! do you think it would help?
I believe in any educational program a need of a mentor is unmissable would you suggest to take any training courses like online trading accademy or some educational day course from Digital look etc.
I quickly want to move to next level as I think this is the right time to enter the market before I miss the boat.

Any advice or suggestion will be appreciated, even better do you coach people like me? To be trained by a person who has been through all stages and have learned from mistakes would be ideal situation to avoid further big mistakes.

Look forward to hear from you soon.

]]> By: atticmantrader http://www.atticmantrader.com/2009/11/the-evolution-of-a-trader/comment-page-1/#comment-568 atticmantrader Sat, 28 Nov 2009 18:02:13 +0000 http://www.atticmantrader.com/?p=1049#comment-568 Hi Jay, Thanks for you comment - good to know that the surgery turned out to be a blessing for you. I totally agree that finding a mentor who is in the advanced stages of their journey would be a great help for all those who are just starting out on their journey. I read an awful lot about trading and find advice and inspiration from many resources. The internet really has changed the way we gain knowledge and I thank you for your kind words about my blog. I know that I get so much out of writing it and I hope that those that read it also benefit Hi Jay,
Thanks for you comment – good to know that the surgery turned out to be a blessing for you. I totally agree that finding a mentor who is in the advanced stages of their journey would be a great help for all those who are just starting out on their journey. I read an awful lot about trading and find advice and inspiration from many resources. The internet really has changed the way we gain knowledge and I thank you for your kind words about my blog. I know that I get so much out of writing it and I hope that those that read it also benefit

]]> By: atticmantrader http://www.atticmantrader.com/2009/11/the-evolution-of-a-trader/comment-page-1/#comment-567 atticmantrader Sat, 28 Nov 2009 17:59:02 +0000 http://www.atticmantrader.com/?p=1049#comment-567 Hi Ice Axe - Thanks for dropping by and taking the time to leave a comment. Understanding where you are on your trading journey really is an important part of making progress. It's important to mention that not everybody goes through all the stages - for example I (thankfully) did not spend any time on stage 1 - in part due to my general cynicism and the belief that if its too good to be true then it probably is. What is important however, is that we persevere until we all make it to stage 5 Hi Ice Axe – Thanks for dropping by and taking the time to leave a comment. Understanding where you are on your trading journey really is an important part of making progress. It’s important to mention that not everybody goes through all the stages – for example I (thankfully) did not spend any time on stage 1 – in part due to my general cynicism and the belief that if its too good to be true then it probably is.

What is important however, is that we persevere until we all make it to stage 5

]]> By: Jay Oberle http://www.atticmantrader.com/2009/11/the-evolution-of-a-trader/comment-page-1/#comment-561 Jay Oberle Sat, 28 Nov 2009 11:53:30 +0000 http://www.atticmantrader.com/?p=1049#comment-561 Hi Daniel! Very much appreciate your honesty! I have travelling this same road since the year 2000, and had the unfortunate experience of getting in the market weeks before the tech meltdown. Truthfully, I have not made money yet, but am travelling the stages. I recently had to stop working as I required major surgery . This has turned into a blessing , as I now can do nothing but trade. One thing that I think is helpful if one is to give this their all, is to find a 'mentor' who is as committed and is successful and in stage 4 or 5. Granted, that may be hard to do, and perhaps what you are doing is more of a benefit than some would know.So thank you for your posts! Be blessed and prosper! jay O Hi Daniel!
Very much appreciate your honesty!
I have travelling this same road since the year 2000, and had the unfortunate experience of getting in the market weeks before the tech meltdown. Truthfully, I have not made money yet, but am travelling the stages. I recently had to stop working as I required major surgery . This has turned into a blessing , as I now can do nothing but trade. One thing that I think is helpful if one is to give this their all, is to find a ‘mentor’ who is as committed and is successful and in stage 4 or 5. Granted, that may be hard to do, and perhaps what you are doing is more of a benefit than some would know.So thank you for your posts!
Be blessed and prosper!
jay O

]]> By: ice axe http://www.atticmantrader.com/2009/11/the-evolution-of-a-trader/comment-page-1/#comment-560 ice axe Sat, 28 Nov 2009 10:37:47 +0000 http://www.atticmantrader.com/?p=1049#comment-560 Saw your interview on Moneyshow.com and got interested in your blog. I'm not a stocktrader, I trade the Forexmarket, so I only read your articles about psychology. This article was a joy to read. Understading that I have gone through stage 1 and 2 and now sits in stage 3 really helped me get another perspective on my trading. And most important it showed me that I focus on the right things. Thanks for the inspiration and I hope you'll reach a state of calmness in your new trading location. Saw your interview on Moneyshow.com and got interested in your blog. I’m not a stocktrader, I trade the Forexmarket, so I only read your articles about psychology. This article was a joy to read. Understading that I have gone through stage 1 and 2 and now sits in stage 3 really helped me get another perspective on my trading. And most important it showed me that I focus on the right things. Thanks for the inspiration and I hope you’ll reach a state of calmness in your new trading location.

]]> By: AtticMan trader http://www.atticmantrader.com/2009/11/the-evolution-of-a-trader/comment-page-1/#comment-473 AtticMan trader Thu, 12 Nov 2009 20:00:35 +0000 http://www.atticmantrader.com/?p=1049#comment-473 Hi Liberatedstocktrader, How long did you spend in each Stage? And how did you know as you passed through the later stages? Does a loss still hurt or are you able to totally accept one? Any insights from someone at Stage 5 would be great. Cheers Hi Liberatedstocktrader,
How long did you spend in each Stage? And how did you know as you passed through the later stages?

Does a loss still hurt or are you able to totally accept one?

Any insights from someone at Stage 5 would be great.

Cheers

]]> By: liberatedstocktrader http://www.atticmantrader.com/2009/11/the-evolution-of-a-trader/comment-page-1/#comment-472 liberatedstocktrader Thu, 12 Nov 2009 18:56:47 +0000 http://www.atticmantrader.com/?p=1049#comment-472 Hi Atticman, nice post it took me 10 years to get through these stages, I recognise each one :) Hi Atticman, nice post it took me 10 years to get through these stages, I recognise each one :)

]]> By: atticmantrader http://www.atticmantrader.com/2009/11/the-evolution-of-a-trader/comment-page-1/#comment-449 atticmantrader Tue, 10 Nov 2009 03:03:15 +0000 http://www.atticmantrader.com/?p=1049#comment-449 Thanks for all the comments guys. Responding to each in a single post. Mao - love the pullback analogy, maybe you should consider trading Breakouts to Stage 4! Keep trading and learning and trading and learning. My current struggle is in thinking in percentages. It's really difficult for me to forget about my p/l and just think in terms of %. Stage 4 traders do that. Thanks also for the comments on the posts. I hope there is some stuff in there that you find interesting, please post more comments! Banker - the more people that spread the Anti-Holy-Grail story the better off the world of trading!! Thanks Alan for you comments. I admit a loss still hurts, but Im getting up off the canvas a whole lot quicker than I used to! Thanks for all the comments guys.

Responding to each in a single post.

Mao – love the pullback analogy, maybe you should consider trading Breakouts to Stage 4! Keep trading and learning and trading and learning. My current struggle is in thinking in percentages. It’s really difficult for me to forget about my p/l and just think in terms of %. Stage 4 traders do that. Thanks also for the comments on the posts. I hope there is some stuff in there that you find interesting, please post more comments!

Banker – the more people that spread the Anti-Holy-Grail story the better off the world of trading!!

Thanks Alan for you comments. I admit a loss still hurts, but Im getting up off the canvas a whole lot quicker than I used to!

]]> By: Alan - EnduraFX http://www.atticmantrader.com/2009/11/the-evolution-of-a-trader/comment-page-1/#comment-448 Alan - EnduraFX Tue, 10 Nov 2009 02:26:25 +0000 http://www.atticmantrader.com/?p=1049#comment-448 Good post well written, but how one ever becomes agnostic to losses I will never know!! Good post well written, but how one ever becomes agnostic to losses I will never know!!

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