TheNegotiator

The problem is Tradewinds, when people start out they really are not in the position to make a sensible judgement on whether or not their strategy is effective and viable. You'll get a younger guy maybe being a bit rash or perhaps an older person who's been successful in other pursuits come in thinking they will figure it out. Well that just isn't the way it is generally.
 
Good point about the commitments and responsibilities btw.

I'd strongly suggest to anyone who is serious about trading to think very carefully about whether using a mobile phone app for trading is a good idea. The interface, speed, reliabilty and security issues make it something I personally wouldn't do. If you have a position and you absolutely must leave, either make sure you have a way of getting through to your broker's execution desk quickly or close the position out before you leave.

:haha: I hear you say. But really. I think that this is perhaps the single biggest factor in the high failure rate of new traders. Perhaps it would be better put that you should not expect to make money.
 
Let me put it in a different way. A beginner will come into trading and have had very little experience of anything similar. The market will however look familiar somehow and tease them into thinking small successes are down to skill. After all, humans like certainty and are quite happy to congratulate themselves when they think they are good at something.
 
Would you expect to pick up a guitar and then a month or two later be playing at a rock concert? Would you expect to pick up a paintbrush and shortly after have an exhibition on display at the Louvre? Probably not. The difference is though that poor trading costs you your money. Coming into trading, you will be pitted against seasoned professionals, massive hedge funds, banks and computer systems to name but a few.
 
Losses early on affect more than just your bank balance. They affect your emotions and your ability to learn and develop confidence in your understanding of markets and methods you use to trade. If you don't understand how to 'take a loss' this can be catastrophic.
 
Do yourself a favour, when you start trading, trade to trade well, not to make money!