RE: Closing Your account G.Gecko

Discussion in 'Trading' started by Enrico D, Jun 11, 2003.

  1. Enrico D

    Enrico D

    Problem is this;

    Many of us funded an account and started to trade the market clueless. Message boards, yahoo chats, etc. Looking for the answer….. The answer is clear!!!! If so many are losing money, who are the ones making money??? After my first year of trading, I lost 40 k. As I walked into my accountant’s office, he asked, how I lost money?

    He showed me the account of a 28 year old day trader, earning 480 k. What was his secret?

    Again very clear….. I believe that daytrading as a Business itself, was not taken seriously. Throw your money in and trade. That was the attitude for me and so many.

    Like any business owner you must know your plan.

    Say you’re in an area with 30 restaurants; you work as a busboy for 3 months, and then decide to open your own. What are you chances of making it?
    Very slim. Better yet; be on a plane that the baggage handler is the pilot. Chances of landing?

    I knew after 40k, I needed to be educated. I didn't want to hear picks from the gurus. I wanted to learn what I needed to succeed and become a business owner.

    Plenty of sites offer guru trades and Hocus Pocus. That is not what I wanted
    Education is the key! Learn from real traders.
    If Wall Street interests you and you love the aspect of trading, don’t trade. You will know when you have a grip on this market. Then you open your door for business!

    Stick to winners, you become one soon enough.

    Sorry to hear your story
  2. BSAM



    Good post.