An open letter to all new traders

All of you new traders out there probably learned about it through some Facebook ad, and spend all your time on forums trying out all kinds of different systems and indicators hoping you find the perfect one that makes you rich. This is a letter to all of you, if you want to be truly successful at trading, you have to understand this isn’t some easy get rich quick scheme, it’s a 0 sum game, and the only way you are going to make money, is if you put in the work to become profitable. Stop searching on all these random forums for magic indicators and spending thousands for obscure guru systems who give no proof that they are profitable, if you want to make money, don’t listen to promises of grandeur, buy a book, study, and learn about trading, learn money management, develop a system, back test it, forward test it, tweak it, and test it again. Trading takes time, it is difficult, but if you truly want to be successful and become a professional trader, you need to put in the work to achieve it. So please, don’t go through the same old cycle 95% of the traders before you went through. Don’t look for the holy grail, and don’t hop around from system to system every time you don’t immediately get the results you asked for. This is a business, and like any business, spend your time investing and building it. I have never seen any job that could give the money and freedom that trading can, but I have also never seen a job with so many people who dive in blindly with no training, studying, or practice.  Take time, as one of my friends always says, slow and grow, or fast and blow, methodically build your portfolio, and in time, you will make more then you ever could have dreamed, and you will live a life many others can only imagine, but remember this takes work, and it takes time, if you are willing to invest and work hard, and if you never quit, this is the career for you.

Elijah Newell

Elijah Newell

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