Getting to the Truths of Stock Trading
There are a lot of misconceptions surrounding the field of stock trading that trigger new trader's fears and keep others from trying the profession at all. As a successful trader for over 15 years, I prefer to take a more positive approach and deal with the prevailing truths that exist in the field of 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. You don't have to spend all day trading to be extremely successful. This does not have to be a full time job. But please don't misunderstand. I'm not suggesting another get rich with no work scheme. It takes time and effort to learn the sustems needed to achieve success at stock trading. But, by using GAP trading effectively, I profitably trade for 2-4 hours a day, plus another hour of pre-market preparation. In fact, I make a great income. With the right system, you can too.
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 depicted as mystical and only accessible to the gurus of the industry. Take it from a regular guy, that idea is not correct. With the right processes established and a good understanding of the basic truths of stock trading, anyone can be prosperous. - 23222
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. You don't have to spend all day trading to be extremely successful. This does not have to be a full time job. But please don't misunderstand. I'm not suggesting another get rich with no work scheme. It takes time and effort to learn the sustems needed to achieve success at stock trading. But, by using GAP trading effectively, I profitably trade for 2-4 hours a day, plus another hour of pre-market preparation. In fact, I make a great income. With the right system, you can too.
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 depicted as mystical and only accessible to the gurus of the industry. Take it from a regular guy, that idea is not correct. With the right processes established and a good understanding of the basic truths of stock trading, anyone can be prosperous. - 23222
About the Author:
W. Alan Gay has been a stock trader and coach 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 successfully. Click to obtain a free copy of his report and learn more about how you could be trading stocks successfully in as little as two weeks.
posted by X - Men @ 2:02 AM
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