Why do newbies lose?

When you consider it a game then it's entertainment.
Make a little money and have fun!!

 

Thats probably too subtle for him Sprout.

 

I think theres a place for that,but real wealth in this game(imo)comes from scaling up.

Theres play money to be made at entry level but real money requires a routine and mindset that leaves nothing to chance.

Each to their own though.

 

You have a very narrow view of what a game is. Have you been around competitive chess? No one serious thinks it’s entertainment. Ratings, rankings, titles, but not much prize money.

 

Why did you ask to describe how trading is a business, what product/service and who is the client/customer? You should already KNOW.

The IRS agrees trading is a business, and a business that is seen as a (legal) for-profit operation subject to IRS tax code.

 

Good Morning Sprout,

My approach is currently a Lie, until I prove it is the truth.

Thank you,

 

That must be your issue. Strange though.

Should be obvious to you trading is a service business. Buy something/anything (stocks, futures, options, bonds, etc) and sell it later for more, or sell something/anything and buy it later for less. Same as a retailer (I was once) or a wholesaler.

 

Good Morning taowave,

Yes sir.

How do I set myself up for success?

Thank you,

 

Good Morning semperfrosty,

This is the best post I read on ET the past 3 months.

Thank you,

 

I'm assuming this is theory.
For all the "Should be able to's" out on social media, there seems to be little proof that retailers make any significant money.
At the top of every profession there are superstars. I'm sure there are traders who kill the futures market regularly. But one of the reasons that newbies lose is unrealistic expectations.
I doubt that there is a routine and a mindset that leaves nothing to chance.