I am a new guy, how much do I expect to lose before I make it
- Thread starter doublef
- Start date
The market reminds me of professional sports (football, hockey, etc).
Tens of millions of people follow it.
Millions of people know enough to be dangerous.
Hundreds of thousands dabble ("weekend warriors")
Tens of thousands consider it a serious hobby (played in college, etc).
Thousands are good enough to do it for a living but not at the highest level ('minor leaguers') (The average minor league salary is about $1000/week).
Hundreds do it for a living playing in the major league (MLB league minimum salary is somewhere around $400k)
A couple of dozen make more money than you could ever dream of.
Not to try to discourage you, but to give a sense of perspective. There's only so many slots on the roster...
Tens of millions of people follow it.
Millions of people know enough to be dangerous.
Hundreds of thousands dabble ("weekend warriors")
Tens of thousands consider it a serious hobby (played in college, etc).
Thousands are good enough to do it for a living but not at the highest level ('minor leaguers') (The average minor league salary is about $1000/week).
Hundreds do it for a living playing in the major league (MLB league minimum salary is somewhere around $400k)
A couple of dozen make more money than you could ever dream of.
Not to try to discourage you, but to give a sense of perspective. There's only so many slots on the roster...
Y'all crack me up
OP
How the hell should we know â seriously?
Youâll lose till you figure it out â just donât lose too much in the process of figuring it out (you do control that after all)
Ever heard the saying; Protect capital first, Make money secondâ¦.
This mantra has stood the test of time for a reason
RN
There's no need to suffer any large financial losses. Start out sim-trading. If you can't make money in simulation mode, you sure as hell can't make money in live mode. When you're consistently profitable in sim-mode, and not a minute before, start trading a SMALL live account with real dollars.
When I started trading 17 years ago I lost a bunch of money out of ignorance. I thought that because I was successful in another field, I could be successful as a trader. After I got the crap kicked out of me in the markets, I "paper-traded" (as they called it back then) for almost two years until I found a method that worked consistently. The biggest price you pay should not be dollars, but the TIME it takes to learn to trade.
When I started trading 17 years ago I lost a bunch of money out of ignorance. I thought that because I was successful in another field, I could be successful as a trader. After I got the crap kicked out of me in the markets, I "paper-traded" (as they called it back then) for almost two years until I found a method that worked consistently. The biggest price you pay should not be dollars, but the TIME it takes to learn to trade.
Of ALL the noob like questions i have ever read on ET that was the very best and most realistic one... bar none..
One Hint... Price Action rules supreme over everything... including Fundie's... etc...
HAVE STOP <img src="http://www.enflow.com/p.gif"> WILL TRADE
... if you concede to lose any I would not suggest trading...you need the winners edge, the competitive edge, the comeback edge...without it...forget it..