as i wrote in the topic (but i do it again), hello from germany.
first of all, my english is not so well and there will be some errors but i hope you wont bother.
im 46 years old and i am a beginner in trading although i know something about it.
i started with trading about 1999. it was a great time for making money. so did i and i was pretty sure that i was a naturally born trader. i wasnt as i had to learn a little bit later. i havent lost all of my winnings but enought to close this chapter of my life.
now two decades later im back. but this time i got more prepared. in fact im still preparing. im reading a lot. i created a demo account, ive done some paper trading, tried this and that and after all i found out that forex seems to be the way to go.
maybe we live in a world in which it is so easy to get information. but this information is hidden behind a lot of crap and even more advertising. but i think this here could be the thing i was looking for.
i think i wrote enough and i dont want to bore you too much. so if you want to know more just write.
Welcome Sharelock! It’s great that you’ve prepared well this time. You’ll definitely learn so much from all the free stuff here and in this community. See you around and good luck on your trading journey.
thank you very much. i`ve already started with the school of pipsology. this is a great and fun method of learning. i really like your sense of humor. and i try to advance every day.
i am also from germany and in trading almost a year. Still on a paper trading account because i didnt optimized my strategy and mostly was greedy and didnt learn from my mistakes.
for now im trading on a demo account. when i started i made a plan and i was planning to start about in september. as you see now its october but still paper trading. as i read more and more i find out how little i know and that it will take some time to get serious business.
i think the most difficult skill to master is the psychological one. but long years in (online)poker taught me to be patient and humble. poker has a lot of common with trading so i think that in this field i wont last too long.
That’s not a bad thing. Like you said, you’ve come to realize there is sooo much to learn. But blowing your account, real money or fake, will be a lesson as well.
There was a thread here just about the topic I think. Lots of former/current poker players have brought up the subject a few times. FX is very similar in that it’s all about percentages and likelihoods, and being prepared for a specific opportunity, but also cutting your loses early and not trying to increase risk to “win back” losers. Like hoping for the river card to hit you with a king to pair up a king in your hand when there’s already an Ace showing (Texas Holdem example).
My favorite team? I’m sure you will shake your head at me. FCB is my team How about yours?
Iagree that poker and Trading have much in common -they will both find out the weaknesses in your personality and you can learn much from what causes you to take bad bets in poker - to avoid those feelings.
I’m from UK and I find the location of Poker players can be helpful if you know nothing else about them.
Irish are difficult to play as are Canadians. I am always a bit cautious of Germans and other UK players. Sadly we don’t get many USA Players as it seems to be illegal over there - but there are masses from “Brazil” - which is on a similar timeline
Do you have any nationalities you are cautious of ? I wonder why I lump certain players from certain countries together like I just did ? = Odd !
@Falstaff
well, russians are often overagressive. but for other countries i havent found some special characteristics. i´ve tried to focus on preflopplay and then on player stats and so on.
@HeavenRobinson
thank you for your words. my goals…well i`m working on them. and one of my first steps towards them was to register here. in poker i was for a long time a lonesome wolf. but when i got contact to other players i improved. and i think this is a very important point in trading too. socialize with other traders and learn together and if possible socialize with the best and learn from them. not their strategies but how have they become successful. what have they done and so on?
Great insight here. Card games tend you give you better and immediate feedback on why your decision was right or wrong. Wish more of trading was like that.
sry to disappoint you. but the opposite is true. in poker you could do a lot of mistakes and still be a winning player. at least for a short period. or you can play badly and never recognize what you doing wrong, cause the mistakes are so small but happening often (e.g. bad preflop play).
and then learning poker is difficult, cause our brain is not made for learning poker. normally we learn in this way. you make a mistake, feel the negative consequence and adjust your behavior. but in poker you can do everything right and lose money anyway. so you start to doubt your skill, your tactics and so on. and then your psyche becomes one of your worst enemies.
That’s is also true. Goes both ways. but maybe over the longer term, if you do become a decent player who understands percentages, on average, you’ll be in the game much longer than a new card player.
But you’re right, you can fake it and still make it. I’ve known players how play super tight and get bullied by players who bluff and bluff.
