Most traders that make money from the markets get hooked early on winning trades. Many that chose trading as their career, made life changing profits early and got the trading bug. The inspiration to trade comes from the game itself and the opportunity to be rewarded monetarily for making the right decisions. Once you have tasted success, it’s a tough habit to kick.
Many new traders never get to experience success and immediately lose a lot of money. Losses can leave a bad taste in their mouth that is impossible to get out. New traders that trade first and learn later usually end up paying tuition to the markets. Instead, they should have studied, read, and spent time backtesting to increase their chances of success. New traders are often shocked at how easy it is to quickly lose money, even when they do the right thing. Like anything in life worth doing, trading profitably is a long journey. Even after you think you know what you’re doing, the market will always have a mind of its own, and can take your money through price action that makes no sense.
The only way to make it as a trader is to put in the time needed to create your own trading plan and follow a profitable trading system that fits your personality. A new trader must survive the learning curve and not be mentally or financially ruined through trading too big, too early, or too randomly. Nothing removes the desire to trade faster than losing a lot of money. Never have a big loss, it could be your last trade.
