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Newbie don't do my $15k mistake...

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milt_p   Friday, 12/30/05 03:00:15 PM
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Newbie don't do my $15k mistake...

When I decided to get active in daytrading, I bought just about every membership and newsletter that promised "instant profits" or "guaranteed winners". I rushed out and bought SEVERAL expensive charting programs - two with real-time data feeds. And a whole bunch of expensive books that weren't worth the money.

Successful trading starts with 'homework' - lotsa homework and IT DOES NOT HAVE TO BE EXPENSIVE ! ! I found out- after wasting a lot of trading capital, that on IH - this board - there is a wealth of excellent education AND IT IS FREE ! Take time to learn from those who are winners.

Because I had a CMA and portfolio account with Merrill Lynch for twenty years, I thought I could start out making bunches of money by opening another trading account with an online discount broker. After wasting a lot of money on 'junk' hunches, rumors, hype, and other bad sources, I looked back at my first twenty days of "going for the gold". What I found was that I had lost almost $4,000.00 by making the mistakes that about 95% of "newbies" make.

Please pay attention to others who are sharing knowledge learned the hard and expensive way.

Please newbie, listen to this old man.

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