5 Weak Excuses For Not Starting Your Trading Journey
Overcoming common excuses and taking the first step towards trading success

Starting a new endeavour, especially one as potentially profitable yet risky as trading, can be daunting. It's easy to come up with excuses to avoid taking the first step, but it's important to remember that these excuses are just that: excuses. In this article, we'll discuss 5 commonly given but inadequate reasons for not beginning to trade and explain why you shouldn't let them hold you back from starting your trading journey. Whether you're a complete beginner or you're looking to take your trading to the next level, you can achieve your goals if you're willing to put in the work and overcome any obstacles that may arise.
Generally the 5 weakest excuses to not start trading are:
- Not enough money
- Lack knowledge/experience
- Too busy
- Afraid of losing money
- Seems complicated
I don't have enough money to start trading
One of the most common excuses for not starting to trade is that people believe they don't have enough money to get started. However, this excuse is often not a valid reason for not starting to trade. The fact of the matter is that you don't need a large sum of money to start trading. In fact, you can start trading with a relatively small amount of capital.
One way to start trading with minimal capital is by using a demo trading account. A demo trading account is a type of simulated trading account that allows you to practice trading without using real money. This is a great way to gain experience and learn the ropes of trading without risking any of your own capital.
Another way to start trading with minimal capital is by trading with a small amount of money and gradually building up your account over time. By starting small, you can reduce the risk of losing a large sum of money and learn how to manage your risk effectively. Moreover, starting small also allows you to learn from your mistakes and improve your trading strategies without risking large amounts of money.
You can also consider using a micro-account, that means using a smaller amount of money to trade, which allows you to learn to control emotions, gain experience and sharpen your decision making skills, it could be a good way to start before you invest in a standard account.
Additionally, there are a number of online brokerages like RoboForex that offer low minimum deposit requirements, so it's easier than ever to get started with trading even if you don't have a large sum of money to invest.
Finally, it's worth mentioning that trading is not just for the wealthy. Many successful traders have started with minimal capital and have been able to grow their account over time through discipline and hard work.
Not having enough money to start trading is not a valid excuse. There are many ways to get started with minimal capital, such as using a demo trading account, trading with a small amount of money, using micro-accounts or searching for online brokerages with low minimum deposit requirements. By starting small, you can reduce the risk of losing a large sum of money, learn how to manage your risk effectively, and gradually build up your account over time.
I don't have enough knowledge or experience
Another common excuse for not starting to trade is that people believe they don't have enough knowledge or experience to get started. However, just like with not having enough money, this excuse can be overcome with the right resources and mindset.
First and foremost, there are many resources available for individuals who want to learn more about trading. Whether it's reading books, taking online courses, or watching educational videos, there are many ways to gain the knowledge and experience you need to start trading. For example, books can provide a comprehensive introduction to the different aspects of trading, from technical analysis to risk management. Online courses, on the other hand, can offer a more interactive and hands-on learning experience. And lastly, videos can offer quick and easy explanations to specific topics related to trading.
Another great way to gain knowledge and experience is by practicing with a demo account. A demo account is similar to a paper trading account in that it allows you to practice trading without using real money. However, unlike a paper trading account, a demo account uses real market data, giving you a more realistic experience. This will allow you to learn how to analyse the market and make trades without risking any of your own capital.
Additionally, many online brokerages offer educational resources such as webinars, tutorials and articles that can help you gain more knowledge and insights in specific topics.
It's also worth noting that experience is not the only factor that determines success in trading. While experience can help, it is ultimately your mindset, discipline, and ability to manage risk that will ultimately determine your success. So even if you are new to trading and don’t have experience yet, you can still be successful as long as you are willing to learn, practice and develop a solid trading strategy.
I'm too busy
The excuse of "being too busy to devote the time and effort required to learn and start trading" can be overcome by being strategic with your time and setting realistic goals. Here are some tips to help manage your time effectively:
- Dedicate a small amount of time each day or week to studying and practicing.
- Setting realistic and manageable goals can help you slowly build your knowledge and experience without having to make a significant time commitment.
- Be efficient with your studies. Focus on the most important and relevant information.
- Combine studying with other activities. For example, you can listen to educational podcasts while exercising or read through trading articles during your commute.
- Allocate specific times of the day to studying and practice. For example, you can try to allocate 15 minutes before starting your workday to read through trading news or an educational article or 30 minutes after work to practice on your demo account.
- Consider taking shorter-term and more concentrated educational programs like webinars, web-based classes, or bootcamps to speed up the learning process and gain knowledge in a shorter amount of time.
- Keep in mind that trading is not a get-rich-quick scheme, it takes time and effort to become a successful trader. It is a process that takes time and requires patience.
- It's important to remember that trading can be a part-time activity and you don't have to make it your full-time job to be successful. With proper time management, you can achieve your goals without neglecting other important aspects of your life.
Being efficient with your studies and focusing on the most important and relevant information can save you time while still providing the knowledge and experience needed to start trading. Combining studying with other activities can make studying feel less like a chore and can be incorporated into your daily routine without too much trouble.
Allocating specific times of the day to studying and practice can make it easier to stick to a schedule and not let it slip through the cracks of a busy day. And taking shorter-term and more concentrated educational programs can speed up the learning process, which can be very beneficial when time is a constraint.
I'm afraid of losing money
The thought of putting hard-earned money at risk can be daunting, but it's important to remember that all investments carry some degree of risk. However, this excuse can be overcome by understanding how to manage risk and having a solid trading plan in place.
First and foremost, it's important to understand that risk management is a crucial part of trading. Without proper risk management, you're much more likely to lose a significant amount of money. One key aspect of risk management is understanding the concept of risk-reward ratio. It's a simple but powerful tool that can help you to understand how much risk you're willing to take for a potential reward. By understanding the risk-reward ratio, you can make more informed decisions about the trades you make and reduce the potential for significant losses.
Another important aspect of risk management is having a solid trading plan in place. A trading plan should include a set of rules that you follow in order to make trading decisions. This includes things like your entry and exit points, your stop-loss and take-profit levels, and your position size. By having a solid trading plan in place, you can reduce the likelihood of making impulsive decisions that could lead to significant losses.
Additionally, it's important to understand that not all trades will be winners. It's a fact of trading that you will have losing trades. What makes a good trader is the ability to manage those losses and learn from them. This means setting stops, taking profits, and adjusting your strategy accordingly.
Another way to reduce the risk of losing money is to diversify your investments across different asset classes, markets and even different trading strategies. This way, you're not putting all your eggs in one basket and you reduce the risk of losing all your capital in one trade or market.
It's also worth noting that fear of losing money is a normal emotion and it's something that every trader deals with, however, by understanding and implementing proper risk management techniques, you can reduce the potential for significant losses and increase your chances of success.
It's too complicated
The final excuse that is used for not starting to trade is that people believe it's too complicated. However, this excuse can be overcome by breaking trading down into its basic components and focusing on one or two strategies at a time. Here are some tips to help you start trading:
Start with the basics
- Learn the basics of stock market and its functioning.
- Understand the different types of securities and the mechanics of how they are traded.
- Learn the basic terminology used in trading such as bullish, bearish, long and short etc.
- Understand the different types of charts, indicators, and technical analysis.
Focus on one or two strategies
- Learn and master one or two trading strategies.
- Try to find strategies that match your personal style and risk tolerance.
- Stick to your strategy and don't let emotions lead you to make impulsive decisions.
Practice on a demo account
- Use a demo account to practice and gain experience with your chosen strategy.
- Test your strategy and make adjustments as necessary.
- Use the demo account to make mistakes and learn from them before you start trading with real money.
Keep it simple
- Avoid overcomplicating your trading with too many indicators or chart patterns.
- The key is to keep it simple and focus on what's important.
- The less cluttered your charts are, the easier it is to interpret the information.
Learn from experienced traders
- Learn from experienced traders by reading books, articles, or joining trading communities.
- Take advantage of the knowledge and experience of others to improve your own trading.
Keep track of your progress
- Keep track of your progress by maintaining a trading journal.
- This will help you identify mistakes and successes so that you can learn from them.
- It will also help you to see if your strategy is working or if it needs to be tweaked.
It's important to remember that trading can seem complicated at first but with the right mindset, it can be broken down into its basic components. By starting with the basics, focusing on one or two strategies, practicing on a demo account, keeping it simple, learning from experienced traders, and keeping track of your progress, you can quickly gain a good understanding of how trading works and begin to make informed decisions.
Not understanding the complexity of trading is a common excuse for not starting. However, this excuse can be overcome by breaking trading down into its basic components and focusing on one or two strategies at a time. By following these tips such as starting with the basics, focusing on one or two strategies, practicing on a demo account, keeping it simple, learning from experienced traders and keeping track of your progress, you can quickly gain a good understanding of how trading works and begin to make informed decisions. Remember that even if it seems complicated, it can be broken down and learned.
In conclusion, there are many excuses that people give for not starting to trade, such as not having enough money, not having enough knowledge or experience, not having enough time, fear of losing money, and thinking that trading is too complicated. However, as we have seen, these excuses can be overcome by using the right resources, developing a solid trading plan, learning from your mistakes, managing risk, and breaking trading down into its basic components.
It's important to remember that trading is a process and it takes time and effort to become a successful trader. It's also important to keep in mind that not all trades will be winners, but proper risk management and a solid trading plan can help you minimize losses and maximize returns.
Furthermore, don’t let any of the above excuses stop you from pursuing the potential rewards of trading. With the right mindset, discipline and resources, you can learn how to trade and achieve your financial goals. Remember that by taking the first step, you are already on your way to becoming a successful trader.
Roboforex Guide – Read our In-Depth Roboforex Review
Roboforex Rating: 7.85 / 10
Our Roboforex review contains information about investing with Roboforex. It is intended for educational purposes only and should never be considered financial advice. comparebrokers.org is not a brokerage or advisory service. We do not recommend or advise that investors buy or sell securities or stocks.
All of the information about the brokers you see reviewed on comparebrokers.org come from our partners, some of whom we have an affiliate relationship with. These partners do not control the content on the page beyond providing us with datapoints to ensure that (as far as possible) the information in our database is accurate. The datapoints provided are used to calculate a rating based on what we beileve has the most benefit to our users. Our proprietary rating algorithm takes all of the datapoints to generate the rating. This keeps things fair and removes human bias to ensure that our users can compare brokers easily and find the best ones for their needs.
58.42% of retail investor accounts lose money when trading CFDs with this provider.
Tag Cloud
Learn To TradeSidebar Title
Read More About Trading Online
- Roboforex Affiliate Program, How does it work?
- How To Withdraw Funds From RoboForex
- What Can You Trade With RoboForex?
- Which Forex Brokers Give Free Bonuses?
- Who Are Roboforex?
- Is Roboforex An ECN Broker?
- What Fees Does Roboforex Charge?
- What Leverage Does Roboforex Offer?
- Can Roboforex Be Trusted?
- Is Roboforex Regulated And Safe To Trade With?