Smart Money
Registered: Dec 2004
Posts: 627 |
11-03-09 07:03 AM
Quote from doublef:
I like trading, I want to make money by trading, but from what I read on ET, people lose a lot first.
My question is: How much should I expect to lose before I make money?
Any ideas?
Depends on how much you bet. My Mom can play the nickel slot machines all night and only lose $20 because even though its almost random with the house having a slight edge, the stakes are small. I can lose a couple hundred at the blackjack table in a few minutes even playing textbook blackjack because I play for higher stakes.
You don't have to lose anything to start...there are stock simulators...just google them.
But if you're pig-headed like me and you insist on using real money, like I did, then just open a small account, make sure that your transaction costs are low and trade, read, refine, trade, read, refine. You'll lose money at first, and maybe forever, because the house has an edge with transaction costs. But if you're bright and you work hard, you'll start to move ahead.
Start free or start small. Don't risk what you can't afford to lose.
SM
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