Have you ever blown up your trading account?

[avusblue]

I guess my stupid question is for everyone, after you blown up your trading account:

how does one get the capital to start over again ? do you just go back doing 8-5 jobs until you get enough capital and start over again?

or do most of you kept your day jobs and trade on the side?

 

[TraderZones]

Quote from avusblue:

I guess my stupid question is for everyone, after you blown up your trading account:

how does one get the capital to start over again ? do you just go back doing 8-5 jobs until you get enough capital and start over again?

or do most of you kept your day jobs and trade on the side?

That is what the smart ones do. Everyone who wants to start a "business" should start small, whether a service, trading or anything else.

Most businesses fail in their first 5 years, and lack of capital, inexperience with their chosen business, and other things are major factors. Trading is similar.

When someone has a steady income and benefits, then they have staying power and can slowly build their knowledge and success.

When someone tries to trade fulltime, they will usually discover why 99%+ of fulltime trader wannabes fail. One reason is called "scared money" - where you need to make trading profits to pay your bills.

 

[schizo]

Since there are so many "loser" threads that keep popping up like weeds these days, I thought I should resurrect this poll once again. Please cast your vote if you haven't already.

 

[Stosh]

Quote from TraderZones:

That is what the smart ones do. Everyone who wants to start a "business" should start small, whether a service, trading or anything else.

Most businesses fail in their first 5 years, and lack of capital, inexperience with their chosen business, and other things are major factors. Trading is similar.

When someone has a steady income and benefits, then they have staying power and can slowly build their knowledge and success.

When someone tries to trade fulltime, they will usually discover why 99%+ of fulltime trader wannabes fail. One reason is called "scared money" - where you need to make trading profits to pay your bills.

Lots of wisdom in this post....kudos! Stosh

 

[equitydaytrader]

i concur.

i never put all my money into the market. i just slowly eat away at my savings account to cover losses in the market. but if it wasnt for my wife bringing home a steady check, i wouldnt be trading full time and maybe not even part time.

i'v only been trading 6 months and i'm still learning and making rules for myself. i'm trying to stay in for at least a year and i don't intend on making any profit, but it would be nice. lol

every1 in this forum has told me over and over that it takes about a year to really figure out what you're doing in the market.

 

[F112358]

Si.