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The worst trading advice you can get
Miembro desde Mar 18, 2022
posts 49
Aug 18, 2022 at 11:46
Miembro desde Mar 18, 2022
posts 49
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
Miembro desde Apr 09, 2019
posts 516
Aug 18, 2022 at 14:20
Miembro desde Apr 09, 2019
posts 516
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.
Miembro desde Aug 05, 2021
posts 394
Aug 24, 2022 at 16:13
Miembro desde Aug 05, 2021
posts 394
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.
Miembro desde Apr 09, 2019
posts 516
Miembro desde Apr 14, 2022
posts 40
Miembro desde Aug 17, 2022
posts 79
Miembro desde May 19, 2020
posts 321
Miembro desde May 19, 2020
posts 321
Oct 04, 2022 at 05:27
Miembro desde Apr 18, 2022
posts 55
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.
Miembro desde Sep 06, 2022
posts 26
Miembro desde Jul 23, 2020
posts 816
Miembro desde Sep 13, 2022
posts 16
Oct 11, 2022 at 10:44
Miembro desde Sep 13, 2022
posts 16
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.
Miembro desde Aug 19, 2021
posts 203
Miembro desde Sep 13, 2022
posts 8

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