Your first or next million?
This is worth your next million
Lots of new traders are looking for a magic solution to make money. They come into trading as a sort of flirtation – to see ‘if it works for them’. It doesn’t. There are no hard statistics on this but Charlie Burton estimates that about 80% of people who begin trading a live account will leave within 6 months. That’s about our estimate as well. There is no single method or trick to making money in trading (or investing), that works. It’s this simple: if such a secret was available, it would surely leak and then ‘everybody’ would get rich. So what’s all this hunting for the trick or solution about? It’s about hopes and dreams. The bad news is that markets are there to feed on people who enter this business with that sort of mindset.
Charlie Burton has generously shared his knowledge and experience in a series of 32 video clips on YouTube. It’s your free ticket to your first (or other) million. But disappointingly for some, there’s nothing in the interviews that gives you any magic solution. For others it is excellent guidance. It’s easy to see and feel the depth of Charlie’s expertise. Importantly Charlie estimates that about 80% of trading educators are actually not trading. This is in line with the philosophy of Newtrader.club – that courses are mostly a trap for new traders i.e. you have an 8 in 10 chance of being conned.
The important work of a new trader is gaining knowledge, skill, experience, learning from mistakes and not repeating them. Then by a process of careful exploration finding method(s) that suit(s) their individual psychological characteristics. There is no textbook to tell anybody how to do that.
Conversation with a failed trader
Today I met a chap who is a failed trader. This was a rare opportunity.Read More
Enquiry from a new trader
A new trader (who will remain anonymous) has contacted us to ask for some help.Read More