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I'm reading this thread with interest because I am a new trader hoping to succeed, and any clue as to why some novices lose their money is helpful (even though I do feel sorry for them).
Just a thought...
It seems a lot of beginners start off making money, not an awful lot of it, but a gain nevertheless. Then something happens and their gains go down the drain swiftly followed by their capital. Do you think it could be complacency and the belief they are invincible after having 'beaten' the market a few times and made some money? Or perhaps it could be once they are familiar with the basic methods of trading they go in search of additional tools to help them predict movement, tools they are unfamiliar with or perhaps don't fully understand and misinterpret the signals these tools give?
I may be way off track here, but then I *am* a beginner :-)
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