Author Topic: Has anyone seen this  (Read 9349 times)

Junz

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Has anyone seen this
« on: June 04, 2014, 07:51:17 am »
Hi Guys,

I came across this product on groupon,

I wanted to find out what you guys think of it ?

I am quiet excited about the technical analysis portion because that is something  I wanted to learn

http://www.groupon.co.za/deals/premium/djv-investment-consultants-pty-ltd-1/39616089

Snakepit

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Re: Has anyone seen this
« Reply #1 on: June 04, 2014, 08:28:00 am »
Okay here is the nitty gritty - You can do the course and that should give you a background of software to use, datafeeds and so on but do not think you will learn how to trade. These types of courses are a good base but will definitely not teach you how to trade. Go to JustOneLap.com and sign up for free. Then work through all the video's and articles! That will enhance your base knowledge. Then you go to Realchartist.com. Real traders trading for a living! Just close your ears and edit what you read. When things go wrong those okes can lose R50 000 a day!!! and then they use some very very hard words.

Trading is the worst emotional roller coaster you have ever been on.

And here is a master tip if you want to get into trading - learn all the candles!!! Candle reading is the second best thing after ticker tape reading. Ticker tape reading will take you 20 years to learn.

Junz

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Re: Has anyone seen this
« Reply #2 on: June 04, 2014, 09:08:04 pm »
Thanks SP

Will check it out,.

Snakepit

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Re: Has anyone seen this
« Reply #3 on: June 05, 2014, 07:26:36 am »
Oh and I forgot the most important thing. We are geared to make profit, but when you trade, you must learn to lose money and live with it. You live with it because, tomorrow you make it back and add some to it. It is in your nature to be right all the time, but trading will destroy that nature and try to destroy you. If you push through, and take note of this, with a working system, you should make it. Good luck!  :wall:

Moneypenny

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Re: Has anyone seen this
« Reply #4 on: June 05, 2014, 11:35:38 am »
'Learn to lose money and live with it.'

True, you can't cry over spilled milk in this game and you can't always be right.  Get over it and move on.

Junz

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Re: Has anyone seen this
« Reply #5 on: June 06, 2014, 09:57:02 am »
Easier said than done,


what is the rule of thumb when buying and selling , eg: if i buy a share and it jumps 20% should i keep or sell ?

jaDEB

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Re: Has anyone seen this
« Reply #6 on: June 06, 2014, 11:26:08 am »
Easier said than done,


what is the rule of thumb when buying and selling , eg: if i buy a share and it jumps 20% should i keep or sell ?

I move my stop loss up 20 % from previous Stoploss price.
jaDEB

If it scares you, it's a sign you need to do it

Snakepit

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Re: Has anyone seen this
« Reply #7 on: June 08, 2014, 09:27:37 am »
I have read many an article stating the following. You do not make money when you enter a trade. You make money managing the trade. Even when the trade goes against you, how well you manage your exit will determine your losses. If you enter a trade and it goes against you immediately, nothing you can do about it. It happens. You might have read the signals wrong. An event triggered a price decline. You have to decide where is your ultimate loss point where you get out come hell or high water. That point is absolutely crucial and that is the point where most people fail!

4 Items make us fail at that point:

1. Emotions make us fail!!!! (It's going to turn, isn't it? Maybe, maybe not. At this stage you have become a gambler.)
2. Listening to other people make us fail!!! (You realize that they are in a losing trade also and do not want to feel alone right?)
3. Listening to the media make us fail!!! (These okes call tops and bottoms and only 1 out of every 100 get it right. You do realize that?)
4. Cashflow make us fail!!! (You have lost so much money, you can't afford to get out. You have to wait for it to make your money back. It can take a month or 10 years. You are stuck.)

A successful trader has a system that works 60% of the time and that 10% above the gambling point of 50/50 gives him the edge that makes him money.

Stoploss was mentioned. It's worth it's weight in gold!  :mad: