indeed yes, @herbalist - many thanks to the regulars. If I had...

  1. 2,392 Posts.
    indeed yes, @herbalist - many thanks to the regulars. If I had their knowledge/experience, would I bother trying to assist newbies? Possibly not. Lovely to see this on the Internet (not common, in my experience).

    I have learned a great deal this year, but then I'm coming off a very low base. I know just enough now to know how little I know This is great - helps keep the male ego in place (most of the time). If there is one item I have added to my trading toolkit this year, it's a mirror. No, I'm not Narcissus. The mirror is a reminder that I am the only one who put in the Buy/Sell bid - it is entirely my responsibility. Howling at the moon when the market disagrees with your choice is pointless.

    I have to create my own trading plan, which takes into account my own circumstances/risk tolerance/timeframe. No point my trying to emulate the superstars here. Without a plan, I learn nothing. Without a plan, every trade is just a hopeful punt.

    My expectations are low. This is an unusual thing to say. Most posters here are male, my guess most are aged 20-45. Us blokes tend to have a rather heroic self-image. Is this trading thing just about making money? I doubt it. To many, it seems like an adventure - you read it all the time on the individual stock threads: some long-term punters who have ridden the rocket all the way up, and all the way down again. They can't bring themselves to sell.

    One quote I liked: it is not about how clever I am, it's about how good is my trading plan. To become the robot, remove the emotion, being rational - all very challenging. I have spent some serious time since April this year working on that - a work in progress.

    I plan to benchmark my progress in 2017 against some comparable managed funds. If I suck at trading, then I'll be more conservative and put most of my money with the professionals. But then, I'm almost 60, heading to retirement. You probably aren't, which highlights the importance of creating an individual plan which suits you.

    It's an interesting journey. I will never be a gun trader because I'm not prepared to put in the 1,000s of hours needed. I might become mildly successful - if I can increase the odds of a successful trade, then I might be OK. Time will tell.

    All the very best over the Silly Season and New Year
 
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