Truths of Stock Trading
There are thousands of fallacies about the stock trading discipline that arouse fear in a new trader's mind and prevent others from even trying their hand at it in the first place. As a proficient trader for over 15 years, I like to be more positive than that and concentrate on the predominant truths that you will find about stock trading. Here are just a few.
1. Stock trading success will come when you keep your trades low risk on a consistent basis over time. Sure, this attitude will result in you missing out on the occasional windfall that the movies have led us all to believe can happen all the time. However, I have discovered that searching for that godsend trade does nothing but result in a horrendous loss that can completely demolish the portfolio you have been working so hard to build. Better to stay lower risk with steady profits over time if you are looking to make stock trading more than a hobby.
2. Trading does not have to take all day to be a lucrative profession. It does not have to be a nine to five job. However, please don't get the wrong impression. I'm not implying that stock trading is another make money while you sleep angle. It takes work and commitment to master the procedures needed to accomplish success at stock trading. But, by using GAP trading capably, I trade for two to four hours per day, plus one more hour of prep time. And, I earn a great living. With the right process, this success story can be yours as well.
3. The experiences of other successful traders who have "gone before" you can speed up your success tremendously. Don't start from scratch because it will take you 10 or more years and a lot of money to make all the mistakes others have already made. It is just smart business to use the knowledge of others. How many times do we hear "don't reinvent the wheel", then turn around and do just that? Instead, read books by successful traders, take classes, find mentors, and use the wisdom of others to make your road more pleasurable and secure.
Stock trading is often portrayed as mysterious and hard for "regular guys" to understand. Take it from a "regular guy", that perception is not right. With the right systems in place and a working knowledge of the basic truths of stock trading, anyone can be successful. - 23196
1. Stock trading success will come when you keep your trades low risk on a consistent basis over time. Sure, this attitude will result in you missing out on the occasional windfall that the movies have led us all to believe can happen all the time. However, I have discovered that searching for that godsend trade does nothing but result in a horrendous loss that can completely demolish the portfolio you have been working so hard to build. Better to stay lower risk with steady profits over time if you are looking to make stock trading more than a hobby.
2. Trading does not have to take all day to be a lucrative profession. It does not have to be a nine to five job. However, please don't get the wrong impression. I'm not implying that stock trading is another make money while you sleep angle. It takes work and commitment to master the procedures needed to accomplish success at stock trading. But, by using GAP trading capably, I trade for two to four hours per day, plus one more hour of prep time. And, I earn a great living. With the right process, this success story can be yours as well.
3. The experiences of other successful traders who have "gone before" you can speed up your success tremendously. Don't start from scratch because it will take you 10 or more years and a lot of money to make all the mistakes others have already made. It is just smart business to use the knowledge of others. How many times do we hear "don't reinvent the wheel", then turn around and do just that? Instead, read books by successful traders, take classes, find mentors, and use the wisdom of others to make your road more pleasurable and secure.
Stock trading is often portrayed as mysterious and hard for "regular guys" to understand. Take it from a "regular guy", that perception is not right. With the right systems in place and a working knowledge of the basic truths of stock trading, anyone can be successful. - 23196
About the Author:
W. Alan Gay has been a day trader and trainer for fifteen years. His free report describes Alan's journey to becoming successful at trading stocks and gives useful tips he and his students have used to repeatedly trade profitably. Click to obtain a free copy of his report and learn more about how you could be trading stocks profitably in as little as two weeks.
posted by X - Men @ 12:48 AM
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