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Is Trading all Lies and Fakery?
Trading is a challenge. Tens of thousands are drawn to trading, but few last more than a few months.
Trading is presented in such a way that it appears to be easy, so it's difficult to face the truth that trading is difficult—at least until you can get the hang of it.
Many beginning traders need to win. They are hoping that the huge profits they make trading will solve many problems in their lives. And so trading becomes the imaginary solution to the problems in their lives.
Recently I wrote to a man and candidly told him he was not ready to trade, that he did not have enough money to trade, and that he would almost certainly lose what little money he had.
He wrote back thanking me for my objectivity, but still he insisted that he was going to trade. Sadly, his main reason was that he would be mentored by a trader I personally know has never made a dime in the markets.
The idea that you can easily make a bunch of money trading is one of the greatest sucker deals promoted today, but no one who tries trading wants to hear that they are more likely to continually face a series of losses. The truth is that if you can survive long enough to learn how to trade, then the money does come easily. The problem is you are not told what will happen between the time you start and the time you finally reach the easy trading life.
Trading is one area in which you constantly see the reality of the saying: "A fool and his money are soon parted."