How much experience is necessary?

[artp01 10]

I am a beginner. I do not know much about the trading concept. Is it possible for a beginner to start trading. I think it is very important to educate first then go for the actual trading.

[Soultrader 12]

We all start off as beginners artp01 But from my experience, its important you find a mentor or professional trader who can teach you the right steps to take. I must of wasted thousands of dollars on the stupidest things. If only if I had known back then!

 

Trading can take time. Treat it as a business. The amount of time lawyers spend on higher education, should be the amount of time you need to spend training and educating yourself on trading. Always have capital you can afford to lose. I say this because you will most likely pay your dues to the markets as part of tuition. I do hope you beat the odds but losing first is better than winning first. Why?

 

New traders who win straight off the bat are getting lucky. This luck usually gets mistaken for intelligence. And these traders never fully learn the markets. It is only a matter of time before their luck runs out. Traders who lose it all in the beginning but are able to learn from their mistakes have a better chance. This is because the markets humble them and in return dedicate their time to education and training.

 

You should also determine what time-frame you are planning to trade. Do you want to daytrade? Swing trade? Position trade? etc... Different trading styles require different strategies. It is important to know the difference.

 

Good luck

[artp01 10]

Soultrader thank you very much for you answer. I agree that proper time to learn has to be invested before starting. It's always better if a beginner gets a good guidance at the beginning, otherwise thing can go really wrong.

[Soultrader 12]

yea... and mistakes in this business is very costly. Monetary losses are usually associated with emotional pain. This turns to fear and can cause new traders to hesitate to pull the trigger.