Hey guys I am Daniel. I do not know what constitutes being a newb but I probably am one in relative terms. I’ve been trading for about 7 months. I nearly whipped my account out in the first 2 or 3 months trading commodities (I am actually decent in currencies), however I’ve recovered significantly and have studied a lot and read books. I take international politics of money and took international political economy in university so I am geared towards fundamentals although I look at technicals too. I first got into trading because I was an intern for US senator Marco Rubio and wrote reports in Latin America for him. I was absolutely surprised at the bullish market for the USD in the region and out of a recommendation of my friend I became a trader. Also I lost most of my capital because of the August crash.
Anyway I was also in the committee for my universities economics society and we hosted events for Goldman sachs and citi so naturally I began to have a curiosity for finance. I’m 21 by the way and in my final year. I am American but live in the United Kingdom and go to the University of Edinburgh.
I’ve been snooping around here but finally thought I should introduce myself.
I’ve read some of John Ravenhill’s global political economy. I am also in the process of reading The Art and Science of Technical Analysis by Adam Grimes.
Welcome Austerlitzer! As far as books go, you might also want to read “Trading in the Zone” by Mark Douglas. The one thing that is seldom at the forefront of trading topics is emotion and psychology. Regardless of how sophisticated or advanced a trading method is, if you don’t take yourself into account and how you manage your own mind, you will eventually end up loosing money.
The only constant in trading is You! If there is no person to trade, there is no trade, simple as that. Unfortunately with fundamentals, there is no unifying factor to it, there is no constant or reference point. There are times when the news is good and the market goes down and vice versa. All the talking heads on TV are always arguing about their points because neither one can actually show with great consistency why the market does what it does.
So unless you take yourself into account first, and how you are able to manage your bias as to where the market is going, then it is all talk for the most part. I find the the purest form of trading is Price Action. There is a lot of information on that and it is worth looking into. It is straight forward, clean and to the point.
So my friend, welcome again and good luck in your journey!
