Tim has a goal to make lots of millionaires from trading...of course he himself is a self made millionaire from trading so he just likes to teach people how to do it now cause he probably is bored in just doing it for the money now that he doesn't really need it.
So many people will questions this type of information and they will probably hold you back. There is frequent talk that approximately 90 % of traders loose money. So no doubt your friend that talks down about trading is right in that sense, you just have to understand that you need to do things the way the winning 10% to win consistently.
If you are anything like me, you will probably think "I can do this no problem" then get in and have a few nice wins....then something sets in where in the beginning, after having a few good wins...there is some sort of effect where you start to think that you will just keep winning and you get away from the strategy that got you the first wins....what follows then...of course is a loss.
This this makes your head spin around and say wtf, get angry maybe get depressed and even make you want to fight back against the market that just took your money.
Its a weird thing to explain and I don't think anyone really understands it until they have had good wins and a big loss... this seems to be part of the process of becoming a top level trainer.
The lesson I think we all end up learning is one that billionaires preach...make sure you never loose.
And this really means only get into a deal that you are guaranteed to profit from. And that has a high return on investment and as low a risk as possible.
A lot of stuff in trading is just like watching a car driving down the street.... is the car going to keep going down the street? Most likely yes....unless it pulls into the driveway of a house on the street.
So is it possible to see a car coming down the street and make a highly probable call on whether or not the car reaches the end of the street?
Well there are ways to make the odds in your favour.
If you sat outside an watched the cars go by and paid attention to the colour, make and model of the cars that pull into the driveways of the houses on the street then when you are in the current day and you see a car coming, if you recognize the make, model and colour of the car your odds of making a winning bet have just gone up.
This is very similar to trading...when you see the same pattern in the chart it is most likely to behave in the same way the next time you see the pattern again.
If you are still saying wtf is this guy talking about then let Trader Tim fill you in a little better...