DarkHorse91, Thanks for sharing your experience with us. I can absolutely tell you that your journey, up until this point, is not uncommon and you are not alone. It's par for the course. It's important to realize that your experience is a success (because it really is!) rather than a failure. Yes, you haven't achieved what you originally set out to do (yet!), but you have learned A LOT and that is invaluable. Trust me. I've been there, done that. I'd like to do my best to give you some advice, but I need some additional context before commenting. What are your goals and motivations behind wanting to trade? Are you looking to trade for a living (as a primary source of income?) Are you looking to take a longer-term view of things, hold down a day job, trade on the side and beat the major market averages over an extended period of time? Do you have aspirations of managing other people's money?
Friends and family members will say that traders LOSE their money, that it is just GAMBLING, negative stuff like that (and perhaps with some painful truth?). It is no wonder so much negativity shrouds trading. 91% of traders are losers; the goal is to get into the 9% club. As a newbie the negative talk really bothered me a lot. Now I just keep my mouth shut. Someone who loves trading will keep doing it regardless of the dream stompers. We should not need anyone's recognition. Trading is intensely personal.
News flash - trading is gambling - in fact trading is considerably riskier than gambling Do not delude yourself other wise Each trade's outcome is uncertain - therefore unknown (Irrefutable Fact) Now..., one can either choose to trade as a gambler.., or the house ===================== Aside; I posted above in another thread and someone responded back to the affect - the only way to trade as the house is set up a bucket shop I like that person so I did not / will not bust on him - but he is clueless what trading like the house really entails ============== Stop with the ill informed advice OP and Q3D have gone through some shit you can't even imagine - I can because I went though the same shit - blowing up is no fun And I had to experience it twice before extracting my head out of my ass What you think sounds reasonable - and is in the real world - does not work/ apply in the trading world To succeed in this business - the real world rules need tossed out the damn window - and the exact opposite embraced ========================== And to ultimately succeed - trading must become intensely impersonal - to the point where results simply do not matter / are not a reflection of one's self One can do everything exactly perfect - and the trade still loses (breaks down) One can do every conceivable thing wrong - and the trade makes money These are additional absolute facts of trading RN
btw - Q3D this does not mean we will be taking warm showers together to the wee hours of the morning You remain a (brooks) whiner in my book RN
oh yeahhhhh, q3d! folklore is incorrect. If 1% of those who tried succeeded everyone would trade. 99.99% of those who try fail. My observation ignores the sheep in every house on every street in every town who gamble in the market. A few of them do quite well but they are not traders. 1 OneHundreth of 1 percent who try succeed at becoming traders. Not 1 out of 100. 1 out of 10,000. Everyone including u q3d should find that encouraging and occupy yourselves with tasks that bring you nearer to your goals of being traders. Or give up if you prefer and believe that's discouraging. Tho it's not meant to discourage you. I encourage everyone of u to become traders. Spending the rest of your life trying to become a trader while simultaneously maintaining your strong focus on berating Brooks puts you at a distinct disadvantage q3d ...relative to your 9,999 competitors doing everything they can to become traders ...but that doesn't dissuade me from my hope for your success.
Take time off read a few books, attend a few free seminars/ webinars think and absorb what you have learned, repeat this process till you develop an unshakable belief and only then fund another account.