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The worst trading advice you can get
Mitglied seit Mar 18, 2022
49 Posts
Aug 18, 2022 at 11:46
Mitglied seit Mar 18, 2022
49 Posts
Lack of preparation
I came across this advice today
"You need to start trading. It doesn't matter if you know what you're doing or not, you'll figure it out later."
No wonder that people lost their money when they get such advices!
Which, in my opinion, **is really bad.** First of all, there's no logic - if all you need is just start, why so many do not succed?
But most important, it's like telling the high school senior, *"it doesn't matter if you know what you're doing or not, just start doing surgeries, you'll figure it out later"*. What I want to say - without adequate preparation, you will be no more than a capital donor in the market. Trading is a serious job. You need knowledge, skill, and strong psyche. It doesn't come from the air.
If you want to know how serious and who you have on the other side of the market, check job offers from biggest brokers and funds. Having PhD and good programing skills is no surprising, it's become a standard - these are your opponents. That's the "other side". Do you really think, you have a chance with them with no preparation?
What was the worst advice you've received so far?
I came across this advice today
"You need to start trading. It doesn't matter if you know what you're doing or not, you'll figure it out later."
No wonder that people lost their money when they get such advices!
Which, in my opinion, **is really bad.** First of all, there's no logic - if all you need is just start, why so many do not succed?
But most important, it's like telling the high school senior, *"it doesn't matter if you know what you're doing or not, just start doing surgeries, you'll figure it out later"*. What I want to say - without adequate preparation, you will be no more than a capital donor in the market. Trading is a serious job. You need knowledge, skill, and strong psyche. It doesn't come from the air.
If you want to know how serious and who you have on the other side of the market, check job offers from biggest brokers and funds. Having PhD and good programing skills is no surprising, it's become a standard - these are your opponents. That's the "other side". Do you really think, you have a chance with them with no preparation?
What was the worst advice you've received so far?
Huge Changes, New Ideas & Decline Of Traditional Investing
Mitglied seit Apr 09, 2019
516 Posts
Aug 18, 2022 at 14:20
Mitglied seit Apr 09, 2019
516 Posts
You need to start surgery. It doesn't matter if you know anything about medicine or anatomy, you'll figure it out once inside. A sentence that sounds absurd when said out loud. I don't know why some feel that replacing surgery with trading makes it more plausible. It makes me wonder if these morons try saying their tripe out loud sometimes.
If you can't spot the liquidity then you are the liquidity.
Mitglied seit Aug 05, 2021
394 Posts
Aug 24, 2022 at 16:13
Mitglied seit Aug 05, 2021
394 Posts
I was wondering how bad the advice would be once I saw the title, now I see. Let's just go out blindly throwing money into the wind, when we could have trained and prepared. I understand being excited and eager to start, but starting that way is just asking to blow your account and fail as a trader from the very start.
Mitglied seit Apr 09, 2019
516 Posts
Mitglied seit Apr 14, 2022
40 Posts
Mitglied seit Aug 17, 2022
79 Posts
Mitglied seit May 19, 2020
321 Posts
Mitglied seit May 19, 2020
321 Posts
Oct 04, 2022 at 05:27
Mitglied seit Apr 18, 2022
55 Posts
The worst advice is trade until you make profits. A serious mistake is to resist the urge to hold onto lost deals in the hopes that the market will turn. By not cutting losses, a trader risks losing any profits they may have gained elsewhere.
Mitglied seit Sep 06, 2022
26 Posts
Mitglied seit Jul 23, 2020
816 Posts
Mitglied seit Sep 13, 2022
16 Posts
Oct 11, 2022 at 10:44
Mitglied seit Sep 13, 2022
16 Posts
Truly this is the worst advice. You should not enter the forex market without enough preparation. The first step that a beginner has to take is learning and demo trading. You should not be trading on a real account until you feel confident enough to risk real money in the process.
Mitglied seit Aug 19, 2021
203 Posts
Mitglied seit Sep 13, 2022
8 Posts

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