Told My Friend About Trading. How To Teach Him Being Realistic?

Discussion in 'Trading' started by shortie, Feb 23, 2010.

  1. TraDaToR

    TraDaToR

    I did it with 500 EUR bills every night for 3 months. No emotions, nothing, a robot. If that's not a good trader, I don't know what it is.
     
    #31     Mar 5, 2010
  2. risky63

    risky63

    tell him to try forex in a demo account (scalping)
    if he can make a profit after a month, go micro.
     
    #32     Mar 5, 2010
  3. he tried stocks intraday and was not able to do it. multi-day swings have worked so far.
     
    #33     Mar 5, 2010
  4. Handle123

    Handle123

    LOL, I have seen this hundreds of times with new traders, as they DO NOT take into consideration Price Action on monthly bars going back ten years. 25 trades is nothing, it is a burp, test a method having 3000 sample size and discover drawdown, MAE, breakeven stops, chop and a host of other price action when to get out early. Past year has been incredible trends for stocks, a blind monkey would have been able to make money since early last year.

    Plus papertrading has zero stress, it is a tool to duplicate your rules over and over and over again till you don't have to look at your rules any more. When you buy your first 100 shares or first contract in futures, that is when the stress starts in a big way real time and you can't add 1+1 without a calculator, LOL.

    I have often told my friends not to start at certain times of market cycles, but they never learn till they are out of money.

    Tell him to test his methods on bear cycles.
     
    #34     Mar 5, 2010
    beginner66 likes this.