Why do newbies lose?

savoir said:
That is highly doubtful. Most people go down the path you are describing. SimpleMeLike has it right: the best path is to get taught by someone who knows what he is doing. Short of that, the rational thing to do for an unskilled person is to not trade.

But life would be unbearably dull if everyone acted rationally all of the time. Reaching for the stars comes at the risk of crashing and burning.

In trading, it’s just money he’s risking. It’s gambling entertainment and unlike going to the casino or the racetrack he gets a tax write-off to offset other gains and income. What a deal. Keeping the dream alive is worth something.
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Hello savoir,

You nailed it sir. Algo back testing helps, but it is not the undisputed answer.

As you said , the only answer is someone showing you or along time of trial of error.

It is not rocket science, although people try to make trading rocket science.
 
SimpleMeLike said:
Good Morning deaddog,

How are you doing buddy?
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Doing great. thanks for asking.
Life is unfolding as it should!!

From that introduction I started researching about the ES futures market and to be honest, I was shocked. I could not believe a normal person can trade upwards of 100 ES contracts Legally. Lol, I was pretty amazed.

And that is how I got into trading.
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So you do know someone who had some success trading, how come you are not dating her anymore? (Nevermind it's none of my business) Do you keep in touch and is she still trading?
When you say you researched the ES futures market, what did that entail?
 
Spooz Top 2 said:
Trading is contrary to conventional wisdom… completely counter intuitive!
Premium set ups only … less is more.
It’s a game of observation & extremely boring when exercised properly.
Experience is your only teacher, unfortunately, very expensive…. Your weaknesses as a decision maker are quickly exposed in this racket … the quicker you can convert yourself into something you’re not is better served!
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The obvious is not obvious because we don't know what we don't know.
 
SimpleMeLike said:
Hello savoir,

You nailed it sir. Algo back testing helps, but it is not the undisputed answer.

As you said , the only answer is someone showing you or along time of trial of error.

It is not rocket science, although people try to make trading rocket science.
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Trading can be as complicated as a person wants to make it. I think the KISS principle works well in trading.

Your account of your female friend and you is the best story I’ve read or heard about how someone got introduced to trading. I’m including even Reminiscences.

Keep learning, keep striving.
 
ironchef said:
Here is one of many posts I found insightful and most traders shouldn't ignored:
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Good Evening ironchef,

Here is another insightful post from me.

This is why I prefer to click the buy and sell button by myself alone:

Because Trading Books are Liars, trading friends are Liars, Trading Teachers are Liars, Trading videos are Liars, Trading Psychology is Lying. Everything on ET forum is a Lie, its just casual trading theory entertainment.

Everything in trading is a Lie that does not come with a track record to show me PAIN recovery. You see, that track record going to show me what happen doing drawdown. I know what drawdown recovery feel like and what it smell like. I want to see PAIN recovery. PAIN-to-WIN recovery. Otherwise its a lie. This mean I am truth in my own trading, I can lose and still win at the same time, because I own my own truth in trading. Such thinking it to me is beyond powerful, even more powerful when I am at 100 ES contracts.

The only thing that is not a lie, is my own self trading experience and a track record. And My PnL and my ability to recover drawdown. Those two things is ALL I care about in my trading.

Experience, although time consuming, and costly to those who risk too much, is the only teacher in trading, unless someone who is profitable consistently sit next to someone and teach them personally. Everything else the trader is listening to or reading is a Lie.

This is why I do not read trading books or following anyone trading advice. Trading advice and trading theories is a lie.

For example, if I am millionaire trading, I WOULD NEVER give anyone trading advice or teach or even talk to another trader. Hence, the reason you never see me give trading advice on ET, I rather keep the truth to myself and get rich on my own. I will show my track record only. I probably just lie to them, just because I do not have time to give the truth, and truth takes too long in trading to explain. Why would I give another trader advice on how I make millions trading? That does not make good business sense, right? That is why everything on trading website is a LIE. Because we all business men/women first. So its easier to sell a Lies and talking about trading theories.
 
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ironchef said:
The obvious is not obvious because we don't know what we don't know.
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Would you try to fly a plane without any training?

SML thinks he can fly a F-35 by spending time in Sim. He’s been at it for almost a decade now, guess these next three months at gonna be lit.

His pearls of wisdom

The thing is with his attitude and mindset it’s like “successful trader repellent.”
 
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