Learning How to Trade vs Trying to Get Rich Quick

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Old Apr 30, 2010, 1:28pm   #1
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Learning How to Trade vs Trying to Get Rich Quick

We've just published a new T2W article called "Learning How to Trade vs Trying to Get Rich Quick" by Brendan Egan.

Quick Summary: Seasoned equities trader Brendan Egan discusses the issues often faced by new traders and why asking the right questions can help on the road to becoming successful

PS. Don't forget to rate the article after you've read it and share your comments on this thread.
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Old Apr 30, 2010, 1:56pm   #2
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Re: Learning How to Trade vs Trying to Get Rich Quick

Just read the article and I think the points made will ring true for 90% of the people who decide they want to trade.

I thought I would get rich quick and it would be easy until I got my backside handed to me by the markets a couple of times. I feel that lessons have been learned and the penny has dropped.

It seems that new traders (me included until recently) can read the same things over and over again... the same sound advice, the few crucial aspects you need to get right -They read, they probably get it but it just doesn't fully sink in. At least, this is how it has been for me.

Maybe it's a process most traders need to go through? Time will tell whether or not I become successful but I feel that losing money in the way I did taught me some massive lessons.
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Old Apr 30, 2010, 3:17pm   #3
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Re: Learning How to Trade vs Trying to Get Rich Quick

Losing money definitely does teach you some very quick lessons. I think losing money is part of EVERY trader's learning curve, however the factor that determines how long you will stay in the market and whether or not you will make it, in my opinion, is how much money you lose and how quick you learn from your mistakes.

Thanks Liam I think I feel another blog post coming from this
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Old Apr 30, 2010, 9:49pm   #4
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Re: Learning How to Trade vs Trying to Get Rich Quick

Good article.
You can teach mechanics, but you can't teach emotions and discipline. Like almost any other career in life, hands on is required.

Peter
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Old May 12, 2010, 8:50pm   #5
 
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Excellent advice, I lost my first 2 pots before I learnt to trade over a decade ago, enjoyed every day since, well nearly everyday, hehe
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Old Apr 26, 2012, 1:14pm   #6
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Re: Learning How to Trade vs Trying to Get Rich Quick

Hi, am new to this market. Please tell me what is leverage?
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