When Michael Nauss first sat down at a trading desk, his computer had a keyboard and a screen. But no mouse.
And his screen displayed an order book. But no charts.
Thus began his career as a scalper working the order book, who paid no attention at all to trends or technical analysis. He was simply trying to find spots to buy ahead of large buyers and flip the position out for a quick couple of ticks. Do this a couple hundred times per trading session and perhaps he’d have a successful day.
This was all part of Michael’s journey of learning to walk before he could run. And it is a mantra that sticks with him to this day as he himself continues to learn and helps many others learn the craft of trading.
Michael says: “Learning is often about “UN” learning.“
People are frequently drawn to trading by a social media personality or a brokerage advertisement, and they are like moths to the flame of fast riches and early retirement. Then they lose. [Read more…]