It pains me to watch new traders jump in head first without first learning what to do.
Some are smart enough to go at it with just a tiny amount of money at first...
...but most don't.
Only a tiny portion of new traders actually put in the effort to learn the ropes before they start.
Maybe the thought of having to do all that research themselves is overwhelming, and theyre not interested in investing in their education either.
Whatever it is, they're setting themselves up for failure.
Most people who attempt trading are destined for failure whether or not they read up beforehand.
Even if one can manage to employ a profitable trading strategy and learn the basics of risk management (not an easy feat), the real test is overcoming the emotions and adverse trading psychology that comes with trading. All that book learning goes to shit when you can't emotionally take a loss. Then you start pulling stops, letting losses run, and then all of a sudden your account is blown up. And that's exactly the point where most traders quit.
The fact is, you can't learn to control emotions and stick to trading plans by reading books. You can only learn by doing. Trading is a
sink or swim endeavor and most people sink.