Yep, meat for the grinder. I once read that 90% of all people who take up trading, lose everything within 90 days on their first attempt.
And you know, most of them I have ever seen, go back to work, build up another stash (or borrow it in really sad cases), then try it again, which would be fine IF they had bothered to try to LEARN something from their initial failure...read some books, do practice accounts etc...but they don't, they go back in, throw a bunch of cash at another "hot tip" and lose it all again.