Learning Curve

[Drew07]

Since most traders lose a significant amount of money when starting out and learning to become profitable, I'm curious what everyone's "tuition" was before achieving a consistent level.

 

[hoodooman]

Bond trading nothing
closed end fund swing trading nothing
mutual fund swing trading nothing
stock swing trading nothing
daytrading stocks -$100.00

 

[SethArb]

huh ... so mr hoodoo ... you basically walked right into speculation

from the "get go" and "kachingo " ?

thats not the normal way it happens ...

how long have you been trading "retail"
and or how long trading ?

 

[hoodooman]

Since 1992

 

[JimmyJam]

Quote from hoodooman:

Since 1992

Well, you're a very smart and perceptive guy.

Depending on a lot of different things, most folks can probably expect to spend 10k-15k (mininum) and at least 3 years (serious screen time) to get the hang of it.

Just speaking for myself.

Good trading,

JJ

 

[Drew07]

Assuming everyone was relatively young when they started...where did this money come from?? Savings?Loans?Assistance from family?

 

[JimmyJam]

Quote from Drew07:

Assuming everyone was relatively young when they started...where did this money come from?? Savings?Loans?Assistance from family?

Savings, working a second job, evening job.

Never Loans, Never OPM

Good trading,

JJ

 

[lar]

20K is the highest category you have?

C'mon man... you gotta think bigger than that!

Savings. Then savings. Then savings. Then savings. Then savings. Then loan. Then ok.

Peace and gtty,

Lar

 

[Drew07]

Quote from lar:

20K is the highest category you have?

C'mon man... you gotta think bigger than that!

Savings. Then savings. Then savings. Then savings. Then savings. Then loan. Then ok.

Peace and gtty,

Lar

I assumed that most normal people can't afford to lose that much cash and still keep at it. I was thinking more towards the average guy who started out with less than 10 or 15 thousand. Guess I was wrong to think that the majority would be in a lower bracket... oh well...I guess I won't quit my day job until I have 50 grand to lose

 

[lar]

Quote from Drew07:

I assumed that most normal people can't afford to lose that much cash and still keep at it. I was thinking more towards the average guy who started out with less than 10 or 15 thousand. Guess I was wrong to think that the majority would be in a lower bracket... oh well...I guess I won't quit my day job until I have 50 grand to lose

Good point Drew07,

I've been looking at it as an investment in my education. Tuition, if you will. The only hesitancy came from not knowing if I'd ever "get it". The "getting it" is not a single and discrete aha moment. It was a series of aha moments collectively put together into a system where they support and complement each other.

Peace and gtty,

Lar