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  1. #1
    Junior Member Vast Horizons's Avatar

    I am still in "school" but plan to launch early next year. !!!

    By school, I mean the school here at bots. I am following a couple of threads already, and I gotta say that the charts are totally Greek to me. I guess things will eventually get clearer.

    I dont yet have a plan. I am still lacking enough knowledge to make one. My financial situation is such that I will be able to invest a small amount of capital, I am guessing around Ä500, but I think I will wait till maybe February for 2 reasons. 1) January is the month that many of the bills come, like car insurance, certain taxes and so on. Then I know where I stand, and not too many bad surprises - barring unknowns obviously - will usually happen. And it gives me a few months to read, learn and eventually start demo trading. Then I should also be able to have an outline of where I want to go, and how I want to try and get there.

    There is always the possibility that I do not like how I do and decide this is not for me, but I dont really expect that to happen. I am a hard worker, and self employed (musician) so I have time to study and practice. I am in my mid 50's, but think my brain is still in possession of enough healthy cells to grasp this business. (35 years as a musician, well, lets just say that the saying sex, drugs and rock and roll has its origin....lol) At the moment it is mind boggling. The charts just look like squiggly lines to me. I wasnt even aware of what bullish and bearish meant. Can anyone say NOOB?

    I am about 18% of my way through the preschool articles, and will continue until I have completed all 3 stages.

    Of course, any tips, link etc are always appreciated. I will eventually start a progress thread to get feedback and help. That is a few months down the line still. I appreciate critique, and can take a bashing when I feel it is deserved. I am pretty open minded and do not think I know it all (unless we are in the studio, but that is another thing altogether ...)

    Is trading always a loner thing when you do it live? Or do people do skype or w/e to exchange thoughts and ideas when trading? Or is that starting to go in an unethical direction? I realize this is a very naive question, but I still have very little, if any, idea of how this works.

    OK, thats it for now. I look forward to being part of this community and hope I can deliver good news some day.

  2. #2
    Specialist Member LesterK's Avatar
    Hello, Vast Horizons! I advise you not to rush with live trading especially if you feel insecure about your current knowledge. Even if you are prepared 100% theoretically, experience is a whole different thing. You need to actually try strategies before putting money on them, because just because it says somewhere that a strategy is good, it doesnít mean that it will be the best one for you.

    About your last question, there are people who trade together via Skype. There are even such groups where they do it all together. You donít have to be a loner in trading.

  3. #3
    Legendry Member willyw's Avatar
    Hi Vast Horizon, Lester's advise is correct. Don't rush. Age is not an issue in trading. I am also in my mid-50s, too but I am in the industry for 28 years till now. Take it slowly and don't rush yourself.

  4. #4
    Junior Member Vast Horizons's Avatar
    Thanks for the replies. As I continue through the school here, ideas keep going through my head. I will complete the 3 school sections and try to follow all the suggested "what a newbie should do". There are a number of posts I īhave read here as well. Some of them are a bit disquieting, like the comments some people make that if you actually do get successful, your broker will start to block your trades.....

    I dont know what broker to use, but I am sure that will come, as there is a lot of info here about them. I have read again and again to have a demo account first, and use that before live trading. Is the open trade app here at bots the thing to do, or do I also need to use a demo account at a broker? Possible these questions and more will be addressed in the school articles.

  5. #5
    Moderator Kolyo's Avatar
    Yes, the demo at BOTS is great. The platform is new and it works perfectly. Donít worry. Just keep on reading and thinking and soon it wonít sound so Greek to you.
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  6. #6
    Active Member rockettrader's Avatar
    If you find a good broker Ė you can see comments about reliable brokers here in the forum, you wonít have a problem with your profits. Starting with BOTS demo platform is good enough for training. Itís simple and itís a lot of fun doing stuff without taking the consequence for them.

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