Millionaire TradersQ: So forums are where you go most often for some interaction
with other traders, right?
A: Right. That’s the part that I enjoy, just the interaction with
other people who are doing the same thing. Trading can get a little
lonely [laughter].
Q : Have you ever attended seminars or participated in any
courses?
A: I really haven’t. I’ve wanted to go to a few, but just haven’t
found the time.
Q: Given your experience, do you think it’s important for new
traders to get formal training.
A: Obviously they have to start small. For me to learn I had to
lose money. So people say trade a demo account to get started.
Yes, if you want to learn the mechanics go ahead and open a demo
account. But if you want to really feel what it’s like to be in the
market, open a$1,000–2,000 account, get in there, trade some
mini lots, and start to learn what it’s like to get stopped out, how to
take profits. The most important thing is to get in there and start
educating yourself because the market will teach a lot. Then, later,
I think you should read some trading books.
Q: So practical trading is what you suggest people do to learn
the ropes?
A: Right and they have to start small. It is very different to trade
a demo versus a live account. I’ve tried to trade a demo account
and it loses my interest. I just have to have money on the line to
really pay attention and focus. I’ve done a little bit of paper trading