Why do noobs make money?
- Thread starter Bakinec
- Start date
"Why do noobs make money?"
because they need it
because they need it
with most new"traders" it basically a buy and hold "trade" not to tough to make a buck after a 8 day "trade"
There's a lesson here.
As a noob, I was making money fast. Then I started "refining" and "supplementing", and started getting my butt kicked.
Now I've reduced to just a handful of simple rules and it's working again. I think keeping it simple is the key to winning...I really believe that.
SM
As a noob, I was making money fast. Then I started "refining" and "supplementing", and started getting my butt kicked.
Now I've reduced to just a handful of simple rules and it's working again. I think keeping it simple is the key to winning...I really believe that.
SM
I think most of the time, people are just lucky. There are some who really have the skills, but most people are just lucky even for newbies like us.
Didn't the Bible say something like: "the intelligence of the intelligent, I will frustrate...."?
The reason why noobs tend to make money is b/c Lady Luck is dumb. Like attracts like.
The reason why noobs tend to make money is b/c Lady Luck is dumb. Like attracts like.
Quote from Gubinec:
It seems, at least to me, like it's a commonly accepted wisdom that the first few trades a rookie trader makes are profitable, and form then on they go downhill.
That got me curious.
I remember a year ago when I first traded at a prop, my first day I was in the positive more than on any of the rest of the days I spent at the prop.
What is it in the mentality of a trader that enables him to make money in the market when he's ignorant, and start losing money once he supposedly becomes more *aware* and educated?
Sort of a paradox.
My own opinion on this is that when we place our first trade ever, we wait to see a move in either direction, and trade on the momentum / with the trend, as it seems like the most obvious method to take money out of the market. This is indisputably the only proven consistent method to profit from trading. Yet something happens in the trader's head that changes the perception afterwards, or at least that's what it seems like.
I remember joking with my fellow proppers that if a firm wants its new traders to be profitable, they should teach them to just trade the opposite of where they think the market will go.
Imagine what would happen? 90% of traders would be profitable
Discuss.
This place always cracks me up!
You sound like you failed at that prop shop right?
How can you say something like this? "This is indisputably the only proven consistent method to profit from trading."
Losers talking about the indisputable right way. I love it!!
It's a myth.Quote from Gubinec:
It seems, at least to me, like it's a commonly accepted wisdom that the first few trades a rookie trader makes are profitable, and form then on they go downhill.
That got me curious.
I remember a year ago when I first traded at a prop, my first day I was in the positive more than on any of the rest of the days I spent at the prop.
What is it in the mentality of a trader that enables him to make money in the market when he's ignorant, and start losing money once he supposedly becomes more *aware* and educated?
Sort of a paradox.
My own opinion on this is that when we place our first trade ever, we wait to see a move in either direction, and trade on the momentum / with the trend, as it seems like the most obvious method to take money out of the market. This is indisputably the only proven consistent method to profit from trading. Yet something happens in the trader's head that changes the perception afterwards, or at least that's what it seems like.
I remember joking with my fellow proppers that if a firm wants its new traders to be profitable, they should teach them to just trade the opposite of where they think the market will go.
Imagine what would happen? 90% of traders would be profitable
Discuss.
Nobody expects a rookie to make money, so when they make it, you hear about it.
You don't hear about the lots of rookies who lose big.