Disjointed thoughts (falacies) for beginners:
"I've read all the TA books, developed the system, paper traded and made 8 trillion dollars, and Now i'm goin' trade for two years and retire to Maui"
1) its good to read the books,but some are better than others, I'm sure Richard has posted a list of good ones. so far so good
2) developed a system on sound TA. also good. But did you test it on stocks your likely to trade? is the time horizon to your liking? how did it perform in differnt market conditions? did you look at draw down?, did You have Stops? (you better have). ok
3) paper trading. Never met a bad paper trader. Nothing goes wrong in paper trading, you get every fill, stops trigger at exact price you want, computer, internet, quote provider, phone, all funtion perfectly 100% of time. Emotions never get in way. In other words your in Utopia. Actually the real trading enviroment is sometimes more like the Twilight Zone. Suggestion: try trading with low level real dollars (10% of what you think you would actually trade)until your comfortable.
4) You made 8 trillon dollars. You found the Holy Grail! You didn't, if Monty Python couldn't, nobody can. But you can might find system that fits your personallity that can be profitable.
5) Your goin to trade for two years and retire. Doubtful. If you go for broke, thats how you will end up. But outperforming the funds, and making a decent buck, or supplementing your income are definately possible.
6) go to Maui. Do it, whether you trade or not! Incredible place.
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