Quote from 99%loser:
This is a good thread I think from what I can tell. the strategies and effort Anek has expended here are sound. I believe he dispenses this advice out of a desire to stop some of the suffering from trading in ignorance. I am going to offer up wisdom from a different perspective.
My concern is that you waste time on this at all. You are 99% likely to lose 100% of the next 2 years trying to figure all this out. Seriously get out now. Don't think about this. You will lose a lot of time and probably a lot of money. Have fun bumming around here. maybe get a handle on a system to keep your retirement account in stocks during a bull market and cash/bonds into the bears. If you are desperate for a direction or money go away completely. trading is like going into a casino or getting enthralled with lotto.
this is all I have to show for 2 years of my life. Just a plea that you don't waste your time. Things can get worse from where you are now. You can dedicate yourself to learn trading. If you make it you are either lucky or have a rare combo of ego and balls that most or all here do not have.
I do not doubt the validity of the several successful traders on here. what you need to realize, new recruit, is that they most likely started from some sort of power position. they may have been involved in a prop firm, investment firm, been wealthy and board/wealthy and greedy, work a job to pay for their losses, or have a sugar mamma/daddy.
Please don't confuse yourself with one of those above. If you be desperate, need to give up your job, have kiddies, have wife, have a house, can't lose up to $10,001.99 without blinking, like the alky-hall to much, play in a rock band, want to be an actor, want to be an artist, think you are really smart just misunderstood, wonder how the world could have passed you by when you are so intelligent and wonderful, are paranoid, feel like life craps on you, well It does. Get over it. go to the bank, wallymart, Home Depor' and get your self a job in the paint department. Do a good job. Commit yourself like you would at learning to trade. Work your way up the ladder while being paid. You will be so much farther ahead of the other 99% of the losers that think they can stick it out in the markets and make their way. you may even develop some self worth and character out there in the real world.
this is you from the future talking. For most of us, this is but a dream. getting into this trading thing is like taking hits of heroin. You will almost certainly wake up up long into your future with a broken body, mind, and genital warts! Well maybe not the warts but you may feel like it. think about losing everything you hold dear standing several years down the line with nothing to show for your effort, trying to figure out what to do and how to start over. Is it worth it?
Loser
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