Funny dude. Trading must've taught him a tough and deep lesson of his life. However, quitters don't win and winners don't quit. Your friend is justly scared like some of us were who got burnt in the past and had to temporarily quit the scene. Anyway, we tasted the other side and found out that nothing beats trading. I think you should encourage him to try it one more time but with lowered expectations and greed. Trading isn't a shortcut to getting rich. Anyone with that mindset going into trading is bound to get roasted, sooner than later. It doesn't matter if they get early winners, they will eventually lose all back to the market.

It's beyond all that. Yes, trading composure and psychology are important coupled with money management but those starting up as traders should have another source of living in addition to trading. Doing that takes off pressure of winning on the trader.