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c.chugani
Registered: Aug 2006
Posts: 297 |
10-19-06 11:31 AM
How much capital, in percentage (on average), should one expect to lose in order to hang in there and improve their trading?
I'm a newbie to this business and am currently down. I know that it is very easy to lose lots of money in the beginning, but its positive if you get a grip on how the markets work - and learn from those mistakes.
So how much money and time should one devote (or expect to devote) in order to improve their trading profitability and winning consistency?
Thanx for your input.
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elit
Registered: Aug 2006
Posts: 225 |
10-19-06 11:48 AM
If you mean how much money to lose while trading? I'd say as little as possible. Be sure you papertrade and backtest enough before you give your money to the markets. Than trade small small small. Then add a little. then a little.
While learning: You can probably borrow most of the books you could read from your library, or have the library order the books from other libraries that have them. You could also buy books etc and sell them later. Thus not spending too much money that can be used for trading later on.
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elit
Registered: Aug 2006
Posts: 225 |
10-19-06 11:51 AM
In other words:
Time? As much as you got! your competing against people/companies who do this for a living 24 hours a day. Is your couple of hours a week enough to compete?
Money? As little as possible! Why lose money at all? I guess it's somewhat inevitable, but still. Make sure you know your things before you "try something out".
Regards
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AKUMATOTENSHI
Registered: Jul 2006
Posts: 375 |
10-19-06 12:18 PM
Subscription to IBD daily, books, and lots of time 6:00AM to 10:00PM Mon-Fri Sat Sun usually 4-6 hours minus interuptions. Time and discipline trump capital starting costs.
Akuma
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c.chugani
Registered: Aug 2006
Posts: 297 |
10-19-06 12:18 PM
My point is, a mistake in trading means losing money.
you can only learn if you make mistakes, and in the case of trading you are BOUND to make some mistakes due to uncertainty.
How much capital does the average joe shell out to the markets before he starts to gather enough skills (from learning from the mistakes he made previously) to become successful in this field?
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Batterup
Registered: Feb 2006
Posts: 284 |
10-19-06 12:42 PM
300k minimum..................
Cash, books, time, rolaids Maalox, heartaches, etc.
Then it all gels and like you suspected all along, the road traveled was not only hard but rewarding.
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