Free lunch mentality

I believe most newbs are looking for an already profitable system to make money.They are not willing to put on the time required to design a system that suits them the most.I was definitely in this group a while back.

Finding what works for you is the most important thing in trading.There is no GURU in fx but yourself.The more individual research you do the shorter the learning curve coz you will ultimately design a system that fits you.Trying another mans system is like trying to fit in the proverbial Cinderella shoe.

Its true you can and will learn important concepts in trading systems thread but ultimately you have to think for yourself-independent thinking is what most people hate to do.Our schooling system focuses on procedures and methods and no much independent thinking.This is why guys take trading courses and enrich system vendors.I am sure if there was a trading degree,most people will be willing to pay for it and think coz they know how to calculate stochastics and a hundred other indicators they know all they need to know about trading...this is the curse of technical analysts.

I read some poll research that showed most aspiring traders demo trade for only 6 months before going live!!!http://www.google.com/url?sa=t&rct=j...45368065,d.b2I

only 6% are willing to demo for 2yrs.I believe if you really have an open mind,within 2yrs you will have learnt most of the important aspects of the game.But for those looking for the holy grail system in the guru threads will be on a system chase for years and years,looking for that free lunch system.Good luck to you.

Completely agree. By looking for a system that is already profitable, newbies are bunching themselves in with the others that make up the 95% losers.

On the other hand 95% HAVE to lose in order for the 5% to make a ton of money

This "free lunch" / "I want it now" mentality is exactly why most will never be profitable at this.

I like people like that. They pay our salaries.

Ssshhhhh....don't give away our secret!

If you can demo for 3-6 months and be profitable then it is worth going live with in my opinion. But i would think most beginners hit a good run in a week and they suppose that their ready for a live account, thats a mistake i fell for as well.

with a micro account is good...but finding and edge is not easy,I doubt one can find an edge in such a short time.

there is too much attention given to psychology and money management. As important as they are they can't make you money without an edge.

take time to find your edge and the rest will fall in place.

I believe that you can only do by yourself really profitable trading system.
All the real huge fortunes were made by the original way and not by the copying something. Even if you use something for your inspiration, you should make an original product, because usual ideas never make big money.