Arrived back home in Adelaide late last night and would like to echo sentiments of others that attended the Brisbane session....it was very useful and good to meet other HC posters, and more importantly gain an insight into how traders operate
I am not a day trader, and not a full time trader. at the moment am in a full time job with a large company (listed on ASX, but aspiring to be a full time trader in the future (realistically (3 - 5 yrs)I do however dabble in equities, forex and indices with varied levels of success in each.
The most important things I took out from the session were:
1) Passion - must love trading 2) No one way to trade. You need to find the trading methodology that suits you, your schedule, your personality etc We saw at the session a full spectum of trading styles...from the manic trading style of Alan McGrath..to the "retail" methodology explained by Ipod...to the methodical scientific approach presented by Sharks 37...and all the styles that were presented 3) have a network...get a trading buddy...it appears the FT trader "can" be a lonely profession...so be pro-active to have contact whether electronically or personally with other like minded persons 4) Have fun and enjoy life......Aksier discussed how he can now take breaks from trading for hours or days or even weeks......no point being successful in this and needing the cash for your medical bills (heart attack etc) 5) Have a plan and purpose 6) KISS theory......related to point 2)and probably relates to newer traders.............you can get lost in all the different methodologies and indicators, tools etc that are there. While I enjoyed the session on pitchforks, and admire anyone who uses them effectively...they are not for me.....I must "add at the moment" 7) Research...whether that is fundamentals, whether that is charting...you need to make the effort 8) Discipline, Discipline, Discipline and more discipline
They are my key take-outs, I may check my notes and add more later (or not!) Thanks again to the organisers and look forward to the next session.
