Lack of preparation
I came across this advice today
No wonder that people lost their money when they get such advices!
Which, in my opinion, is really bad. First of all, there's no logic - if all you need is just start, why so many do not succed?
But most important, it's like telling the high school senior, "it doesn't matter if you know what you're doing or not, just start doing surgeries, you'll figure it out later". What I want to say - without adequate preparation, you will be no more than a capital donor in the market. Trading is a serious job. You need knowledge, skill, and strong psyche. It doesn't come from the air.
If you want to know how serious and who you have on the other side of the market, check job offers from biggest brokers and funds. Having PhD and good programing skills is no surprising, it's become a standard - these are your opponents. That's the "other side". Do you really think, you have a chance with them with no preparation?
What was the worst advice you've received so far?
-
For more visit: New City Trader Magazine and subscribe our magazine (it's free!).
I came across this advice today
QuoteDisliked"You need to start trading. It doesn't matter if you know what you're doing or not, you'll figure it out later."
No wonder that people lost their money when they get such advices!
Which, in my opinion, is really bad. First of all, there's no logic - if all you need is just start, why so many do not succed?
But most important, it's like telling the high school senior, "it doesn't matter if you know what you're doing or not, just start doing surgeries, you'll figure it out later". What I want to say - without adequate preparation, you will be no more than a capital donor in the market. Trading is a serious job. You need knowledge, skill, and strong psyche. It doesn't come from the air.
If you want to know how serious and who you have on the other side of the market, check job offers from biggest brokers and funds. Having PhD and good programing skills is no surprising, it's become a standard - these are your opponents. That's the "other side". Do you really think, you have a chance with them with no preparation?
What was the worst advice you've received so far?
-
For more visit: New City Trader Magazine and subscribe our magazine (it's free!).
"It is better to become rich slowly than poor very quickly" - A.Unger
