Wax On, Wax Off
Amateur Traders may get hooked on trading because of a few quick and easy wins, just as much as people get hooked on gambling because their friend’s aunt’s niece won $5,000 on a $1 slot machine, yet she forgot to mention she lost $10,000 that year before “getting lucky”. Random wins and losses create an inconsistent pattern of reinforcement that is habit forming. They then begin to focus their attention on finding winning stocks rather than on the process of learning how to trade. They are also likely to eventually lose because they become anxious and unable to behave as flexibly as a successful trader.
When you are a beginner you need to get into the game by studying, not paper trading or worrying about which broker to choose. Good thing you already know that because you made the conscious decision to learn first. So first let's take a quick survey to gauge your level of experience and when you finish this survey and come back to re answer these questions you will see how much you have learned in such a small window of time.
Do you have balls?
In the Getting Started Group Chat answer the questions below to your best ability! If you do not know all of the answers just yet, that is completely fine that's what this program was designed to teach you!
- Have you ever traded a stock before?
1a. If yes, which stock, and what was the setup?
- Are you wondering what broker to use?
- How to scan for set ups?
- What is a market order ?
- What is the S&P 500 is?
- What is a "Bull Flag"?
- What is a "Stop Loss"?
- On a personal note, how would you like to be addressed? First name, special nickname?
**We would like you to ask us at least 2 questions as well!**
POST IN THE GETTING STARTED CHAT