Got this! I hope to find a strategy that will fit my style. Thanks!!
Watch (or listen for free) CNBC as much as possible.
?? How’s it going today, John? 
The topic is on finding your strategy and I doubt anyone has ever found theirs from CNBC.
That’s for one but it’s here is my issue with it …
Lets say your new to trading and are long here is a scenario that I’m sure has played out - maybe even many times
Your long the EUR intraday (it could be any timeframe or style though) and then you get Ray Dalio, Paul Tudor Jones, Jim Rogers hell even Maria Baritomo saying they are short the same market - well now the beginner thinks
‘Well heh Baritomo thinks the EUR is going down I’m obviously wrong I need to close it. No I need to get short. If they are saying it on CNBC they must know something I dont’.
Consequently you go short and the EUR rallies hard that day setting off a whole load of emotional responses in the new trader.
I like watching CNBC but it’s been a long time since I let talking heads influence my trading position …
I see your logic and I agree beginners need to soak up as much as possible - maybe I’m being harsh on CNBC I do like watching Kramer for a laugh
100% for real.
Trying to become a professional trader.
Listening to nothing but professional traders and analysts talk for 12+ hours a day. CEOs, CIOs, individuals managing literally billions of dollars, investors with 20 and 30 year trading histories…etc?
What’s your beef with that?
We both know this is impossible and that if it were that black and white, we’d all be on yachts right now. It’s the mere exposure to professionals and observing how they think through market conditions, events, and manage billions of dollars of other people’s money.
I think this and exactly what you lay out are part of the process for some people. You need to actually get burned, and whipped in/out of a position to learn the ultimate lesson- you should never rely on someone else’s opinion for a trade you want to take. It takes a buyer and a seller, so, regardless of who believes what someone has to be “less wrong” than the other.
I selectively listen- but, I don’t wholly discount a professional shining a light on a trade I may have taken in which I overlooked something glaringly obvious. It’s not an all or nothing clause, and I think we’re on the same page in terms of mere exposure being beneficial in the long run.
Thanks for the interaction- take care!
Yes I agree that you have to get burned to realise the talking heads are no better at short term predictions than anyone else.
Im a bit of a contrarian by nature so it didn’t take me long before I took their advice with a pinch of salt but we are all different and I think many will have an undue respect for their opinion - over their own
I did used to find Rick Santelli worth watching - his opinion and predictions on the jobs numbers was always interesting but I have not watched in a long time - I hope he’s still on there
Yes!! He is a breath of fresh air and is still regularly on the network. He has great insights on fixed income instruments and never holds back from speaking about what is on his mind.
In the beginning, every trader adopts a number of strategies. With time, as we get the experince, we are able to knowingly or unknowingly come up with a stable one. This is the devised one.
I was looking for a strategy to work with a practical method - I just worked with an Amarkets broker. I tried what profit a certain strategy will bring. So I found the best option.