Okay, I'm relatively new to trading. I got into it because it looks awesome and you see tons of people banking left and right and I knew I could do the same, right?! I got off to a decent start, had a few wins and got very optimistic. Then I started losing. I am to the point now where I'm down $800 on a formerly $3000 dollar account. My question is, should I take a break from trading entirely? Take time off and only study? What would you guys recommend? I was hoping to be able to grow my account a bunch, maybe use some profits to support myself in college a little and I hate to step away entirely, but I can't keep losing like this.
Any advice is greatly appreciated! Just a young and dumb trader aspiring to be like the rest of you!
Thanks
But even if you don't when they are let out for the day you are free to go. I spend more time watching Tim's videos than I do in class. Consistently. Every video-every second for that matter better prepares you to trade. It can be the difference between a profit and loss
So slow down, cut losses, STUDY STUDY STUDY, research stocks to practice applying the concepts learned from the videos, and, should a perfect pattern come along, trade safely. Good Luck!
I got overly excited when I started too. I decided to hold back study a bit more before getting back in the game. On my restart round is when I finally joined here. Being a lot more cautious now and only sticking to what are in my head perfect trades. Tim does warn us, how to make millions has about 2 hours of basically stamping in your head the fact that you will lose money when you start.
Thanks for all the support guys! I really do appreciate it.
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