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. You will be successful at stock trading if you can keep your trades consistently low risk over time. Sure, you might miss out on some of those too good to be true, windfall trades that all the movies are centered around. However, you will find that, over time, searching for those dream come true trades more often than not results in a fantastic loss that ends up deteriorating the portfolio you worked so hard to accumulate. Better to keep your trades lower risk and steadily profitable over time if you are serious about making money at stock trading.
2. You don't have to spend the whole day trading to thrive at stock trading. Now, don't misunderstand. Stock trading is not another get rich quick hustle. You must put in the time and the commitment to master the processes needed to be successful. But, by using GAP trading effectively, my trading day lasts between two and four hours, plus another hour of prep time. And, I make a great income. You can too, if you can find the right process to do so.
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. - 23211
1. You will be successful at stock trading if you can keep your trades consistently low risk over time. Sure, you might miss out on some of those too good to be true, windfall trades that all the movies are centered around. However, you will find that, over time, searching for those dream come true trades more often than not results in a fantastic loss that ends up deteriorating the portfolio you worked so hard to accumulate. Better to keep your trades lower risk and steadily profitable over time if you are serious about making money at stock trading.
2. You don't have to spend the whole day trading to thrive at stock trading. Now, don't misunderstand. Stock trading is not another get rich quick hustle. You must put in the time and the commitment to master the processes needed to be successful. But, by using GAP trading effectively, my trading day lasts between two and four hours, plus another hour of prep time. And, I make a great income. You can too, if you can find the right process to do so.
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. - 23211
About the Author:
W. Alan Gay has been a stock 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 consistently 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 fourteen days.
posted by X - Men @ 2:01 AM
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