Learn Stock Trading First
In this video the speakers talks about stocks. There is always going to be new products to catch attention on stocks and the forex is something that is in vogue and everybody seems to be attracted to it. After you will analyse the risk level you are going to opt for, you will probably choose a short-term trading system. If you are new, you will go to trade in the forex because the high amount of leverage, but the chances are that you are going to lose money. In the first twelve months you will wish not to lose money so you will have to trade something that fits to that level of risk. So, if you never traded something before, the best thing is to start with stocks. That is where you should start and if you cannot make any money there, there is no point to look at any other instruments to trade.
The average starting account is five thousand dollars, this should be the minimum if you really want to earn something. 80% of the people that are starting, within the first three months, they have nothing left in their accounts. It is clear that all those people have an enormous attraction to money, and they are kind of dragged by some unknown force to trade all those money. You have to have some skills. You have to wait a long period before you start to trade all those money. They are not going anywhere. There will be more opportunities to trade all kinds of different products.
Someone in the public speaks and says that he works for Australian Stock Report. He is in this domain since 1980. He says that this is one of the most difficult jobs to do. It takes a lot of time, dedication, effort, discipline and all other trade skills. It takes many, many years just to take from level one of trading to the level of trading all kind of different stocks. There is a high level of risk that you take when you invest money and start trading. When you get it wrong, you get it wrong big time, some people get lost everything. They want to do fast money and they end up losing all, even their marriage, their home, their jobs... It is just not for everybody. There are always exceptions from the rule, exception that should be used as an example.
Quotes from this video:
- When you get it wrong, you get it wrong big time, some people get lost everything
- It takes many, many years just to take from level one of trading to the level of trading all kind of different stocks.