Best Advice You Could Give A Beginner?

The number one thing is this: to trade, and trade real money—NOT paper trading. Get in the game. Take your lumps, learn from them. You will lose on some trades... but never lose the lesson.

I remember an interview I saw with an Air Force pilot instructor. He said that pilots can fly simulators, take classes, study, watch videos... whatever... but there is no substitute for “Time with air under your ass.”

Go for it! Push!

Honestly I think that this is true for many things in life. Want that job? Go for it. Want a date with that pretty girl? Let her know. Want to run a marathon? Train hard. You will not win in this life as Mr. Softy... especially in trading, where you are ultimately taking the counterparty’s money.
 
southall said:
you can get lucky in the first 6 months or even first 5 years and think trading is not that hard. This might be the worst thing that can happen to a beginning trader.
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Exact same thing hooked me in the beginning, long puts on BP during the big blowout. Thought it would be sooooo eazy........
 
Wide Tailz said:
Exact same thing hooked me in the beginning, long puts on BP during the big blowout. Thought it would be sooooo eazy........
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Yeah I hit two buyouts in a row when I first started. I was in on Solar City when Tesla bought them, and in on SGI when HP bought them.

I thought, “Easy! Just pick companies that will get bought out, and make tons of profit!”

Lol... I was in for a wake-up-call.
 
kmiklas said:
Yeah I hit two buyouts in a row when I first started. I was in on Solar City when Tesla bought them, and in on SGI when HP bought them.

I thought, “Easy! Just pick companies that will get bought out, and make tons of profit!”

Lol... I was in for a wake-up-call.
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I have been waiting years for Bunge (BG) to be bought out. Nothing happens...Year after year!! But there is great "sell to open" options for the company, since traders feel it will happen someday...I just do my covered calls (out of the money big time) and wait.
 
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