Have you ever met a newbie who...

domgilberto1 posted:
Yeah its easy to pick them off a mile away seeing as there is an unprecedented amount of people who blow up and lose their money as opposed to those who consistently retain there gains.... (the commonly thrown around statistic of 95% people failure... sure we`ve all heard this figure once or twice before)

What gives this person away is there lack of knowledge and more importantly their complete ignorance to retain what` written all over the internet in terms of prudent steps to take in `breaking` themselves into trading.

Instead the person who carries an ignorant approach and carries the persona of 'right I know what im doing lets throw some money at it' will more than likely go through 1 of 2 steps:

(most common one)

1) Because that specific individual has no reservation or anticipation on their longevity of prospective trading they sub-consciously accept their lack of intelligence and due diligence that is otherwise a necessity, and instead feel freely obliged to place trades incompetently (through the nature of pure gambling speculation) and ACTUALLY at this stage accept losses and wins (because they dont know how to use R:R, Probabilities, what to look for, what to expect etc.) - but what i`ve experienced many do is actually start out with consecutive wins because their trading style is fairly straight forward and in-complex (pretty much what you need) and also carry a level of fearlessness (which is otherwise required when classified as a professional - along with other emotionally grounded techniques)

Then what happens is they all of a sudden take a fairly big loss due to over leveraged on a position, wide stop, no stops, whip saw, something that scared the living shit out of them and put them in their place. Before that one shocker of a trade popped out, all euphoria was present in there minds and felt like they could seriously make a living out of it and actually contemplate quitting their jobs because they`re almost in disbelief (but what they don't know is how far they`re from being in control is the scary thing - hence the shock of the loss) - Its this stage in which you can simultaneously identify (which can be as quick as a fucking day with these people) whether or not they want to identify for the RIGHT reasons, constructive and logical ways of recovering from there errors and acknowledging that they carried the most laughable mentality from the get go...

2) They get spanked instantly, shit their pants and didn't enjoy the experience and forever carry the attitude that it cannot be done unless you`re top financial analyst with a PHD from Cambridge and then they feel the need to troll forums telling everyone else that they`re not cut out for it but wants to confide in sub-consciously being proven wrong by someone either uploading a statement of track performance or teaching them for nothing because they feel like they deserved it because they got stung so badly by their moronic approach to thinking they have any idea what the fuck they`re doing.



I personally think success is PURELY in the composure of the characteristical traits the individual carries which becomes apparent i`d say as soon as the end of the first week full time trading with their own assets...

That`s how you can spot someone who is going to make it or break it like so many other arrogant wanna`be traders....


(anyone who has read 'trading in the zone' then you`ll only acknowledge how i`ve paraphrased his teachings)