The 2 most ridiculous questions of novice traders
The world is seen upside down among novice traders in Africa
Since we set up trading training at Salix Nigra, we keep receiving multiple questions from our dear African brothers and sisters, curious and passionate about trading.
What I found, based on the questions our customer service receives, makes me scared and smiled at the same time (it’s a mixed feeling).
In this article, we will discuss the real problems of novice traders, why their success as a trader is already in jeopardy and what should be the right attitude.
Let's start with the most common question.
How much will I earn in trading?
It’s somehow legitimate to know what an activity will bring before you get into it, but this question in the mind of the trader is perceived differently. The beginner who asks this question is in the logic of “sure gain”; he wants to know how much “exactly” he will do each day, each, month or year. If he was looking for an estimate to get a glimpse, that would be a bit legitimate.
What you need to understand is that trading is a volatile activity. A trader is just like those who sell goods to us in the market or grocery shops. A trader has no guarantee that he will make a sale, a profit or a loss. He can give you an estimate on the whole but cannot clearly predict its day, week, month or year.
In trading, the amount you will earn depends on your initial investment and your performance.
Which broker should I use?
To help you understand this question, imagine a young person who wants to be a doctor instead of finding out what it takes to take the medical exam, asking you in which hospital he should go for a job.
It makes absolutely no sense to look for a broker if you don't already know what trading is. Okay. If I tell you how to open a trading account, what will you do next? Deposit money? And then what? What are you going to do? Buy or sell? What asset? What is your strategy? How many units do you plan to buy or sell? How do you manage risk? Etc…
It is clear that he has no answer to these questions.
Don't be surprised that 95% of newbies lose all their money in trading.
Beginners are experts in putting the cart before the horse. Trading is a discipline, it is an activity like being a doctor, a lawyer, etc. It has its rules and principles. You cannot wake up one morning and become a trader.
If you want to learn trading on your own, I have written an article that should interest you.
When you are interested in an area, the first thing is to train yourself. Seek to learn the trade and leave the dream aside.
Many are discovering trading through bling bling ads where they sell them dreams and the easy money provided they open an account and start clicking on Buy or Sell.
As a result, the beginner already sees himself as a pro trader, thinking it’s easy; he burns all the steps and already wants to open an account and calculate his fortune.
Remember this, 95% of novice traders lose all their money. This is not a joke. They simply lose their money out of ignorance. It’s normal to kill all of your patients if you’re an untrained surgeon in an operating room.
So far, none of our novice traders have gone broke in the market. Our apprentices know what to do, when and why.
If you want to start solo in trading, I wrote an article on How to learn trading in Africa? I give some tracks to follow to help you better familiarize yourself. If you want dedicated coaching, a professional at your disposal to train you and help you become a professional trader, I invite you to take a look at our trading training offer.
If you are a beginner or interested in trading, my advice is to seek training before thinking about money. For those who don't know what they're doing, trading is the safest and fastest way to lose all your money. Faster than gambling in Casino.