I'm new and confused because almost every post I come across here regarding income says it's very hard for a new trader to make money the first year or so.
I did some simulation trading when I was interviewing with a firm and it seemed to me so easy to make money there.
I had about 5 stocks there on the screen in a small window, I did not even know what the stocks were and I thought one was Washington Mutual when I later found out it was actually Walmart (lol).
It was my first time working on a platform and it took me about an hour to figure out how to work it with little help (blackwood pro).
I opened the 1, 5, and 15 min charts for the stock I was following.
Next I just kep my eyes fixed on the price of the stock as it changed every second. WHen I saw that it was on a consistent uptick, I bought in 500 shares and kept watching the price rise about 30 cents before it started going back down and I made 125 bucks selling it at 25 cent return.
It took about 1-2 minutes for me to buy in, the price to rise and for me to sell at a profit.
Another stock I shorted for 100 shares, and it went up instead. But I was a newb and forgot to look at its chart as there was an uptrend established, but what I did was foolishly just look at the price and where it was going second by second. It went on to make 1 dollar and if I had bought 500 shares of it I would've made a profit of $500 in an hour. I covered when I saw it was already 10 cents up so I lost 10 bucks.
I did a few more trades, and at the end of the trading session (which was about 3 hours for me), I was positive 160 something bucks, and this is the first time I've ever traded or even handled a platform before with no guidance or explanation of how it works.
So maybe I was mislead or am wrong in some way?
I would really appreciate it if someone please explained to me why theres widespread opinion that its so hard to make money trading?
The total money that I used on simulation was 15K max for a trade.
I did some simulation trading when I was interviewing with a firm and it seemed to me so easy to make money there.
I had about 5 stocks there on the screen in a small window, I did not even know what the stocks were and I thought one was Washington Mutual when I later found out it was actually Walmart (lol).
It was my first time working on a platform and it took me about an hour to figure out how to work it with little help (blackwood pro).
I opened the 1, 5, and 15 min charts for the stock I was following.
Next I just kep my eyes fixed on the price of the stock as it changed every second. WHen I saw that it was on a consistent uptick, I bought in 500 shares and kept watching the price rise about 30 cents before it started going back down and I made 125 bucks selling it at 25 cent return.
It took about 1-2 minutes for me to buy in, the price to rise and for me to sell at a profit.
Another stock I shorted for 100 shares, and it went up instead. But I was a newb and forgot to look at its chart as there was an uptrend established, but what I did was foolishly just look at the price and where it was going second by second. It went on to make 1 dollar and if I had bought 500 shares of it I would've made a profit of $500 in an hour. I covered when I saw it was already 10 cents up so I lost 10 bucks.
I did a few more trades, and at the end of the trading session (which was about 3 hours for me), I was positive 160 something bucks, and this is the first time I've ever traded or even handled a platform before with no guidance or explanation of how it works.
So maybe I was mislead or am wrong in some way?
I would really appreciate it if someone please explained to me why theres widespread opinion that its so hard to make money trading?
The total money that I used on simulation was 15K max for a trade.
