Failed newbie

Hi,
As a “failed newbie” I would like to share my experiences with you. It started last January after I had finished reading a novel written by Jeffery Archer, and I thought it would be a good way of making a lot of money. I opened a practise account and lost about 25,000 dollars in the first month!
I studied a few systems and figured that day trading was the way to go, so I paid big bucks for a mentorship course, practised it for about three months, opened a trading account with $10,000 dollars, paid for a live Ninja account, and started trading.
Totally different from practise trading! My heart was doing double time, I refused to accept losses and chased them, I had no self discipline and no management structure. I lost $2,500 dollars in the first week. I couldn’t resist trying to recoup my losses so I closed my trading account so that temptation was removed.
I emailed my “guru”, explained that I had no issues with his methods, but asked for help and advice. I received no reply. So I am on my own. The simulated account has been closed with Ninja and my broker says that this can only be reopened if I maintain a minimum of $2,500 in my trading account, so I can’t practise.
I want to get back into trading sometime in the future. ( No doubt the cynical among you will say” forget it”), but I need help. I am considering sending in the $2,500 to my broker just to get the simulator up and running again, then practising the methods taught more thoroughly, and trying to incorporate a little more self discipline. I am also considering a method promoted by Eminidaytrader. However any useful advice from T2W will be welcome.

Get an account with Oanda & trade microscopic amounts with Forex.

If you want to still use a 'real market' to analyze - then get a demo with Mirus with Ninja & Zenfire. Analyze the futures, trade Oanda.

You can literally trade for cents per pip on Oanda.

helpful, friendly, useful advice ?

who are you and what have you done with the real Pedro_Toast ?

rathcoole_exile said:

helpful, friendly, useful advice ?

who are you and what have you done with the real Pedro_Toast ?

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I had sex last night, that's all.

lincdales said:

Hi,
It started last January after I had finished reading a novel written by Jeffery Archer, and I thought it would be a good way of making a lot of money. I opened a practise account and lost about 25,000 dollars in the first month!

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Writing a novel can be a good way of making money. About as many people succeed in that venture as they do in trading - on a percentage basis.

Unless $25K represents pocket money to you then I'm going to suggest you're not intelligent enough to trade.

That you started trading then decided it might be smarter to learn to trade suggests to me you’re not intelligent enough to trade.

That you then pay out for an expensive guru course (likely without doing any due diligence) suggests you are not intelligent enough o trade.

My useful advice? Don’t think about trading.

Well done for finding this site though.

DionysusToast said:

I had sex last night, that's all.

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Drop the soap?

Hotch said:

Drop the soap?

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Nope - wedding anniversary...

What time did you make it back home?

DionysusToast said:

I had sex last night, that's all.

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Does Pla know about it ?

lincdales said:

Hi,
As a “failed newbie” I would like to share my experiences with you. It started last January after I had finished reading a novel written by Jeffery Archer, and I thought it would be a good way of making a lot of money. I opened a practise account and lost about 25,000 dollars in the first month!
I studied a few systems and figured that day trading was the way to go, so I paid big bucks for a mentorship course, practised it for about three months, opened a trading account with $10,000 dollars, paid for a live Ninja account, and started trading.
Totally different from practise trading! My heart was doing double time, I refused to accept losses and chased them, I had no self discipline and no management structure. I lost $2,500 dollars in the first week. I couldn’t resist trying to recoup my losses so I closed my trading account so that temptation was removed.
I emailed my “guru”, explained that I had no issues with his methods, but asked for help and advice. I received no reply. So I am on my own. The simulated account has been closed with Ninja and my broker says that this can only be reopened if I maintain a minimum of $2,500 in my trading account, so I can’t practise.
I want to get back into trading sometime in the future. ( No doubt the cynical among you will say” forget it”), but I need help. I am considering sending in the $2,500 to my broker just to get the simulator up and running again, then practising the methods taught more thoroughly, and trying to incorporate a little more self discipline. I am also considering a method promoted by Eminidaytrader. However any useful advice from T2W will be welcome.

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Either jump off a cliff or blow your brains out. Either that or put some discipline in your life because the markets will eat you every time. They do not have memory like you appear to have difficulty in releasing.

rathcoole_exile said:

Does Pla know about it ?

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I think she noticed

Bint_Crusher said:

Either jump off a cliff or blow your brains out. Either that or put some discipline in your life because the markets will eat you every time. They do not have memory like you appear to have difficulty in releasing.

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This comment and a few of above made me think there's a lotta harsh cynics seasoner here in t2w...

lincdales said:

Hi,
As a “failed newbie” I would like to share my experiences with you. It started last January after I had finished reading a novel written by Jeffery Archer, and I thought it would be a good way of making a lot of money. I opened a practise account and lost about 25,000 dollars in the first month!
I studied a few systems and figured that day trading was the way to go, so I paid big bucks for a mentorship course, practised it for about three months, opened a trading account with $10,000 dollars, paid for a live Ninja account, and started trading.
Totally different from practise trading! My heart was doing double time, I refused to accept losses and chased them, I had no self discipline and no management structure. I lost $2,500 dollars in the first week. I couldn’t resist trying to recoup my losses so I closed my trading account so that temptation was removed.
I emailed my “guru”, explained that I had no issues with his methods, but asked for help and advice. I received no reply. So I am on my own. The simulated account has been closed with Ninja and my broker says that this can only be reopened if I maintain a minimum of $2,500 in my trading account, so I can’t practise.
I want to get back into trading sometime in the future. ( No doubt the cynical among you will say” forget it”), but I need help. I am considering sending in the $2,500 to my broker just to get the simulator up and running again, then practising the methods taught more thoroughly, and trying to incorporate a little more self discipline. I am also considering a method promoted by Eminidaytrader. However any useful advice from T2W will be welcome.

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Dare I ask who this 'mentor' was that took your money, taught you some 'system' and then ignored you when you were in trouble?

pboyles said:

Dare I ask who this 'mentor' was that took your money, taught you some 'system' and then ignored you when you were in trouble?

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My guess is its one of these

lincdales said:

Hi,
As a “failed newbie” I would like to share my experiences with you. It started last January after I had finished reading a novel written by Jeffery Archer, and I thought it would be a good way of making a lot of money. I opened a practise account and lost about 25,000 dollars in the first month!
I studied a few systems and figured that day trading was the way to go, so I paid big bucks for a mentorship course, practised it for about three months, opened a trading account with $10,000 dollars, paid for a live Ninja account, and started trading.
Totally different from practise trading! My heart was doing double time, I refused to accept losses and chased them, I had no self discipline and no management structure. I lost $2,500 dollars in the first week. I couldn’t resist trying to recoup my losses so I closed my trading account so that temptation was removed.
I emailed my “guru”, explained that I had no issues with his methods, but asked for help and advice. I received no reply. So I am on my own. The simulated account has been closed with Ninja and my broker says that this can only be reopened if I maintain a minimum of $2,500 in my trading account, so I can’t practise.
I want to get back into trading sometime in the future. ( No doubt the cynical among you will say” forget it”), but I need help. I am considering sending in the $2,500 to my broker just to get the simulator up and running again, then practising the methods taught more thoroughly, and trying to incorporate a little more self discipline. I am also considering a method promoted by Eminidaytrader. However any useful advice from T2W will be welcome.

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I think that you should get better before even starting to trade again. Ninja platform is expensive and not for someone just starting out There are a lot other options out that do not charge you platform fees. I would consider them.

DionysusToast said:

I had sex last night, that's all.

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a vendor getting laid... your argument is invalid

to the OP: WOW, awesome of you to tell us your story, it helps others more than you imagine.

i suggest you open a demo account with any provider you want and work on your discipline

next time you trade live YOU WILL HAVE A SET STOP LOSS AND YOU WILL EXIT WHEN IT IS HIT

if you disregard this advice then these will come for you

First off, if you need ninja Trader, you CANT TRADE, so you shouldnt be using real money.

Your looking for a crutch to lean on, because your mind is already geared to Lose.

You say you dont have money throw around, but you went and spent ALOT of it, for nothing.

Your better off letting someone else, with a track record, give your money a chance to profit.

In trading, you have to think outside the box, and doing a few simple searches, you would have spent $0 on the proper education.

I have a Youtube Degree, I didnt Pay A dime for ANY INFORMATION.

I, Personally feel, if your programed to trade properly, you dont need to waist money on Signal providers, and all that other crap. Cant be mad at the people scamming others for this information or courses, because really, not starting at the proper point, ( search engines ) proves a weakness of the mind, and bad problem solving skills, not to mention the money managment aspect, wheather its for account purposes or Educational purposes, you throw your money around with no type of direction.

Im not doggin you out by no-means, trading isnt for everyone. I dont give a crap what some people are spreading around the internets, that Anyone can become a great trader.

A Great, true, aspired trader, can trade, and Forecast the market. If you dont know where to go, your next step is a 50/50 shot, and in Tradeing, you just cant go with those odds, not when you dont have money to throw around.


Great Luck to you, I truely hope you find direction, just stop throwing your money around.

Research, Research, Research

The info is out there, FOR FREE, Go look for it, practice, get your mind right, then go from there.

Its a process, a career, and could be the keys to your financial stability.

And only YOU will know, if its right for YOU.

DionysusToast said:

Nope - wedding anniversary...

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Well done, you!

GlenGary said:

First off, if you need ninja Trader, you CANT TRADE, so you shouldnt be using real money.

Your looking for a crutch to lean on, because your mind is already geared to Lose.

You say you dont have money throw around, but you went and spent ALOT of it, for nothing.

In trading, you have to think outside the box, and doing a few simple searches, you would have spent $0 on the proper education.

I have a Youtube Degree, I didnt Pay A dime for ANY INFORMATION.

I, Personally feel, if your programed to trade properly, you dont need to waist money on Signal providers, and all that other crap. Cant be mad at the people scamming others for this information or courses, because really, not starting at the proper point, ( search engines ) proves a weakness of the mind, and bad problem solving skills, not to mention the money managment aspect, wheather its for account purposes or Educational purposes, you throw your money around with no type of direction.

Im not doggin (Diggin I think you meant Doggin is somthing else ) you out by no-means, trading isnt for everyone. I dont give a crap what some people are spreading around the internets, that Anyone can become a great trader.

A Great, true, aspired trader, can trade, and Forecast the market. If you dont know where to go, your next step is a 50/50 shot, and in Tradeing, you just cant go with those odds, not when you dont have money to throw around.


Great Luck to you, I truely hope you find direction, just stop throwing your money around.

Research, Research, Research

The info is out there, FOR FREE, Go look for it, practice, get your mind right, then go from there.

Its a process, a career, and could be the keys to your financial stability.

And only YOU will know, if its right for YOU.

Click to expand...

To the OP This is a great heads up for you.

Demo trade until you make profits in your Demo account
Open Live account with $500 and grow your cash

LIVE trading will bend your MIND
DEMO trading you take more risks and hit the BUY/SELL button with ease. On a LIVE account you have to learn ACT and when to sit on the side lines.

Good Luck and just remember we have all been there