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The worst trading advice you can get
Aug 18, 2022 at 11:46
1,022 Zobrazení
16 Replies
Členom od Mar 18, 2022
49 príspevkov
Aug 18, 2022 at 11:46
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?
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Členom od Apr 09, 2019
516 príspevkov
Aug 18, 2022 at 14:20
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.
Členom od Aug 05, 2021
394 príspevkov
Aug 24, 2022 at 16:13
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.
Členom od Jun 29, 2022
25 príspevkov
Aug 31, 2022 at 15:32
Ridiculous statement.
You dont start trading until you use demo for at least 6 months and having a good grounding in your Fx education and a bit of Fundamental analysis
You dont start trading until you use demo for at least 6 months and having a good grounding in your Fx education and a bit of Fundamental analysis
Keep it country
Členom od Apr 09, 2019
516 príspevkov
Sep 01, 2022 at 10:02
I wonder if there was a bit left out where they said first sign up to this broker using my link...
If you can't spot the liquidity then you are the liquidity.
Členom od Apr 14, 2022
40 príspevkov
Sep 03, 2022 at 08:58
I was advised to switch to live account from demo after a month, which I think is a very less time to understand the forex market.
Členom od Aug 17, 2022
79 príspevkov
Sep 12, 2022 at 10:46
The worst trading advice I ever got was that forex is about knowing the basics, and in-depth knowledge isn't important, which now seems unrealistic and ridiculous.
Členom od May 19, 2020
321 príspevkov
Sep 21, 2022 at 12:23
You don't have to do anything but just buy an EA that will trade.
@Marcellus8610
Členom od May 19, 2020
321 príspevkov
Sep 21, 2022 at 12:25
or another bad advice: trade without a strategy, you lucky guy
@Marcellus8610
Členom od Sep 29, 2022
68 príspevkov
Sep 29, 2022 at 09:30
My advice is to go to a couple of forex trainings. You will learn a lot there!:)
Členom od Apr 18, 2022
55 príspevkov
Oct 04, 2022 at 05:27
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.
Členom od Sep 06, 2022
26 príspevkov
Oct 04, 2022 at 11:07
Trading is all about luck - only those who become successful are lucky, or the market favours the most. That is the worst advice I have ever come across.
Členom od Jul 23, 2020
816 príspevkov
Oct 04, 2022 at 17:07
If you are in consistent losses, it means you are not yet enough knowledgeable for trading broker. In this case, you need both global economic knowledge and market technical knowledge.
Členom od Feb 15, 2022
131 príspevkov
Oct 05, 2022 at 14:33
Use different accounts types help a trader in making portfolio. The best way to survive in Forex is making portfolio because avoiding mistakes completely is impossible.
Členom od Sep 13, 2022
16 príspevkov
Oct 11, 2022 at 10:44
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.
Členom od Aug 19, 2021
203 príspevkov
Oct 12, 2022 at 10:52
Oh I know one. The worst trading advice that I heard was:
- Oh dear buy my signals and you forget about what losses are forever.
😄😄😄
I did not buy those signals at all after that words lol.
- Oh dear buy my signals and you forget about what losses are forever.
😄😄😄
I did not buy those signals at all after that words lol.
Členom od Sep 13, 2022
8 príspevkov
Oct 18, 2022 at 10:43
Definitely the worst advice is what the OP stated. The person who gave it must not have been a well wisher of the trader at all!
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