business planning
It isn't silly when you cant trade and you blow £20k and want to blame someone but yourself for being an idiot.
No-one with any sense drives a car without first learning
No-one can fly a plane without being first show and trainded to be proficient to fly it took centuries to "figure it out"
And we were all shown how cross the road carefully when i was a child with the green cross code.
You wouldn't start a business without first researching your market, writing a business plan, cash flow, projection having loss procedures, emergency provisions for the times when you dont make money so why do people think that all these rules dont apply to them when they first start out trading is absolutely absurd.
If you dont have experience, get some that means paper trading and understanding the business environment you are entering.
If you cant wait then do what everyone else does and lie on your application and then you can start crying about how much money you have lost, and why? Because you haven't got a clue as to what you were doing.
Most business's fail with in the first 3-6 month because they dont follow a prov-en business model that has worked for centuries... plan plan plan.
Even more business's fail within the firs 3 years because of a lack of sufficient planning
You can shave my nuts and call me silly if these aren't similar figures as when a trader starts out because the alleged 85% failure rate 10% break even and 5% winners isn't because of something to do with a business plan or lack thereof.
If you are having problems with opening a spreadbet account with a measly £1000 you are really going to have trouble opening a direct access account to trade the nasdaq.
When you are starting out a trading account is the last thing you want to open otherwise you may as well take your money and go to the casino.
Most people starting a business will focus on the thing s that are easy.. thinking of a name, business cards, bank account, job title, dream about all the money that you are going to make. But its all bolox if you haven't thought about what you business is.
Learn about what you are doing before you do it... you used to be a teacher and surely you learnt about your subject before you actually taught people? and that took you years, dont think that this wont be either.
All this is meant to be realistic. Shocking and hurtful this may appear to some but I'm not some darren winters trying blow you off for a £3,000 seminar and tell you that "this time next year your going to be a millionaire"
When Ive spoken and coached people ive had one to many people ask me my secret recently. The secret is there is no secret.
Two final words Business plan
Kind Regards
Newtron Bomb