Slow and steady i really agree. There is no reason, if you are new to the markets, that you can't start off with a small account and build it into a larger one over time. Your losses will be smaller and easier to manage psychologically as well as financially, and believe me...you will have losses.
The most common mistake I see, with traders new to the markets, is that they start with a small account and then have the quick easy money mentality. This thinking attracts a lot of players to the markets, but of course anyone who has traded for a while knows that there is no easy fast track to riches unless you are extremely lucky.
It's hardly surprising then that it is this type of trader that ends up getting totally worked over by the markets, struggles and continually fails to make any money.