People that bought penny stocks, and risk all their capital into one trade are call gamblers. Not investing or trading. Stop selling yourself BS; you will do fine in the market. There is no get rich quick scheme in investing or trading. Anyone that looks for one should take their money down to the casino. If you treat the market like a casino, it will be a casino.

Trading is one of those rare professions in which you can be socially incompetent, yet still be successful. It's a lot like being a hermit. Successful trading has nothing to do with getting along with people, or trying to persuade them to do what you want. As long as you can develop a winning trading strategy and carry it out successfully, you will probably be profitable.

Even though no one is looking, some people actually make up rules to follow, even where there are none, and fantasize that if they don't follow the rules, they will be punished. At Trading Educators, we have seen traders bring such conflicts into their trading. Some traders search for rules to follow, and think that those rules are clear-cut. They are looking for the Holy Grail of trading. They are convinced that if they follow the rules, they'll be successful; if they break the rules, they'll be punished.

Now, there are some "rules" or guidelines that are wise to follow. It is a good idea to manage risk, for example. In fact, the amount of risk should be first and foremost in planning your trades. You must determine risk before anything else. It is actually impossible to come up with a good trading plan until you know the risk. And it’s usually a good idea to plan your trades rather than make up a trading plan on the spur of the moment.

But even though you make rules, they are often arbitrary. Active, professional traders don't always carefully manage risk or carefully plan out what they are going to do. At best, trading is replete with basic guidelines that are hardly as firm as the rules most people are used to following as children, students, or workers. In reality, there is no one watching you. There is no one waiting to punish you or trying to make you feel guilty if you mess up on a trade.