It is like anything else.
For some people things are harder than for others, the first one who has to answer a question is you, ¿would you take it seriously?, i will not say its bad or luck, no its not, but you may understand that to trade the markets you will face as many different situations as you can imagine and i very good method can show its weakness any time, now let me ask you, do you have a plan?, a contingent strategy?.
Of course its good, for most people here 5 weeks is the same a longevity.
It is like anything else.
For some people things are harder than for others, the first one who has to answer a question is you, ¿would you take it seriously?, i will not say its bad or luck, no its not, but you may understand that to trade the markets you will face as many different situations as you can imagine and i very good method can show its weakness any time, now let me ask you, do you have a plan?, a contingent strategy?.
Of course its good, for most people here 5 weeks is the same a longevity.
Yeah, I spent many hours on a super comprehensive written trading plan, including what I will do if things go tits up. So far so good though. Im enjoying it.
Patricia12
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I have both account demo and real. I am trading with virtual and real money as well.
Benj1981
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What's the point of that?? Great - you win on your virtual account, and lose on your real account. Way to go.
barjon
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What's the point of that?? Great - you win on your virtual account, and lose on your real account. Way to go.
No different to a golfer spending hours on the practice range is it? Might not replicate the pressure of them playing in a "real" tournament, but the whole object is to groove in their swing so it doesn't crumble under pressure.
Don't know of anything where successful people don't practice their skills in one way or another. Why should trading be any different?
Benj1981
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Maybe yeah, but there's no emotions in virtual money. Also you can't buy anything with virtual money, and deffo not a Lamborghini, which is what I'm going to get when i make it in trading.
barjon
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Benj1981
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Dinky or Matchbox do a nice one I think
Good one Barjon! I've got £5,000 saved...i'm going to spend a couple months learning and reading up on trading, and i've worked out, that if i can compound my money 20% per month for 2 years, i'll have just under £400,000! Plenty for a Lambo with some left over. Enjoy your Reliant Robin.
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barjon
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love it.Seriously though, if you're just starting out forget all such dreams of stellar returns. If you've still got your £5000 intact after 2 years you'll have done well.
Benj1981
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Seriously though, if you're just starting out forget all such dreams of stellar returns. If you've still got your £5000 intact after 2 years you'll have done well.
It can't be that difficult, otherwise no one would be doing it!? Surely?
barjon
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Well turn it on it's head and ask yourself why the world is not chock full of people driving Lamborghinis and filthy rich people lounging about on the beach. The reported figures from brokers and Spreadbet companies is that 95% of their retail clients (which you will be) lose and I doubt there's that many Lambos in the garages of the 5% either.
There are plenty of sharks circling in the waters peddling dreams so don't be taken in.
So, when you've done your "reading and learning" have a go on demo first - keeping in mind that you won't match the results when you start putting real money down. Then when you put real money down keep it small until you are consistently profitable - keeping in mind that you won't match those results either when you significantly increase the ante.
Benj1981
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Thanks for the advice, but i'm sticking to my original plan of £400k in 2 years. Someone's got to do it, so it might as well be me. Anyway, great banter Barjon, will be in touch.
Oh, and no offence about the Reliant Robin pic - you should be proud of that car!
NVP
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2 months is more than enough time for you to become a competent trader ....maybe inside 6 weeks even if you study more than 2 hours a day and perhaps do a little practice trading as well on those nasty chart thingys ?
N
