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Originally posted by mrEURO I used to pretend I was in "Trading College". It will take at least 4 years to graduate and like any institution of higher learning....you will pay for your degree. You will churn through a lot of your tution depending on your trading style. Accept it, embrace it and enjoy the journey.
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I agree entirely with the concept and the analogy, but not with the "at least 4 years" part. I think that if you go into it expecting it to take 4 years to graduate, then it's bound to take you 4 years. If you go into it knowing that some people get through it in 6 months while others take 2 or 3 or 4 years, that's more realistic and doesn't weigh you down with so much of a self-imposed limitation. A lot depends on your own perceptions and the people whose advice you choose to listen to.
I admit that I speak with some bias on this subject, being myself one of a small and lucky minority who started off with no losses at all, because I limited myself to learning thoroughly one fairly simple technique which I believed was going to be reliable for me. So by the time I started doing all the "real work" I was actually trading and making a profit already. Such things are possible, but not for someone who starts off with a "4-year mental millstone" round their neck.
I should also admit that when I read your initial post, though, and saw that you were 70 points down after 3 months' trading, my initial reaction was "hey - that's a pretty good start"!
Again, let me stress that I _do_ agree entirely with the concept and analogy which Mr. Euro's using in his explanation. I'm only quibbling about imposing a long and fixed time-scale on yourself.