Most noobies lose money, but that is exactly what they should do

Discussion in 'Psychology' started by triggger, Sep 25, 2008.

  1. triggger


    Most traders myself included would caution noobies to not trade and do it carefully and often tell them "Oh You don't Know what you are getting into"

    But "getting into it" is the only real way to learn IMO
  2. The answer: don't trade.

    If you cannot yet swim do you jump into a rip tide at the coast? You drown. :cool:
  3. epetrov


    My answer: trade as little as you can. Don't jump in the deep water.
  4. I don't recommend any trader (including newbies) should lose money.

    However, the fact is that most traders do lose money.

    Yet, I have a strong opinion that most of these folks weren't suitable for trading prior to their first trade.

    Even so, a few of them eventually do develop the skills to succeed and do succeed even though they really weren't suitable for this type of job.

  5. epetrov


    Interesting opinions.
    Is there out there any successful traders, who did't lose money at the beginnign at their trading career?
  6. triggger


    Demo accounts don't really teach, they taught me nothing, until real money was on the line, I didn't learn.

    My advice is trade small positions, but real money
  7. lwmoss


    Triggger, you are so right! That was the case for me. All kinds of great success in my sim account and barely treading water in the real deal (I started about a month ago).

    Real money changes everything because you just can't account for how much emotion plays into to it until you are there. After losing some, I'm clawing my way back doing exactly what you say ... small positions.... small wins, tiny losses. Meanwhile, I'm getting a better feel for what the real deal is really like.

    Happy trading today, everyone! :)
  8. i played with real money at first, had no clue what i was doin, lost.. felt like i needed to feel that pain to realize this is serious business. been paper trading and going at this hard since and have actually been profitable but everyday im making mistakes and learning. i think demo trading is good if you are able to have it hold the same weight as real trading. i get emotional paper trading, maybe its because i have already taken real loses? i dunno?
  9. You noobs crack me up. Keep swimming with sharks and find out what happens.
  10. ElCubano


    I agree....."no pain no gain"
    #10     Sep 25, 2008