Hi @tomo22, the reality about trading is hard to believe. I want to say most trading mentors outside are not honest. They may claim trade since 2000, but their way of thinking honestly don’t reflect what they have claimed.
I know many experts in these fields, but all of them good in making proofs, but when they are being asked to trade alive, the result is different or even zero.
When you really want to be a trader, you need to understand the holy-grail is a combination of four aspects: strategy, money management, risk management and mentality. Lack of one of them, I don’t know how to succeed in this field. If we don’t know what they really mean, even harder to be a trader.
Many others make claims to have found the key of trading, telling to have 85% or even 100% win rate strategy. Be realistic, we are human, selfish by nature. If we have something so good, why do we want to share it for free. If we are being kind to share it for free, other will take advantage of us without mercy.
I’m not saying, I am an exception. I’m also the same.
If you observe to all members in trading community, most of them talking about strategy. So many strategies have been discussed. If strategy is so important, the best strategy surely has been exposed here. But in reality, none of them exists. Those who are trying to find influence and benefit from beginner market, still trying very hard to sell their crappies concept.
Most profitable traders will keep quiet from community. They say no more, because the secret is not in the strategy, but other elements, as I have mentioned above.
Trading is similar to other business. You have to be an entrepreneur, not opportunist. As an entrepreneur, you understand the risk and being realistic. You face the opportunity from market fact, you think of market as it is.
As opportunist, you will be few step behind. You think of market as you want it to be, you will fall to the cliff of despair.
Example, most trader don’t know the realistic balance to start. They will put a number for example 500, and assure themselves as the good number and also the safety net. This kind of though is wrong. It’s similar to you want to open a factory, but you put your capital limit to 500 USD. It doesn’t work. Before you put a number, you should learn at least.
Luckily, you can start with cent account. You can start with smallest amount. To pursue your path in trading, you have to tried it … You have to get rid your trading anxiety, strengthen your mentality. These can be done only by trading with discipline.
Trading with strategy you can scale up. From my past experiences, base on my past students, they are who still trading until now, were taught averaging.
So their basic is averaging, and from averaging they realize the market dynamic to design their own trading style.