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. You will be rewarded from stock trading by keeping your trades low risk on a regular basis. Yes, this approach will cause you to miss out on one or two bonanza jackpot trades that the media portrays to be every day opportunities. But you will find that, over time, waiting and hoping for those godsend trades usually results in an insane loss that deteriorates the portfolio you worked so hard to build. Its more advantageous in the long run to keep your trades low risk and progressively profitable over time if you are earnest about making money at stock trading.
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. Taking advantage of the experiences and knowledge of other successful traders can quicken your accomplishments a great deal. It doesn't make good business sense to start from scratch because it will take you will lose years of time and tons of money making the exact same mistakes others have already made. Don't reinvent the wheel. Read books and articles by successful traders, take courses or seminars, find counselors or coaches to guide your progress. I guarantee, your road to effective stock trading will be much more enjoyable 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.
1. You will be rewarded from stock trading by keeping your trades low risk on a regular basis. Yes, this approach will cause you to miss out on one or two bonanza jackpot trades that the media portrays to be every day opportunities. But you will find that, over time, waiting and hoping for those godsend trades usually results in an insane loss that deteriorates the portfolio you worked so hard to build. Its more advantageous in the long run to keep your trades low risk and progressively profitable over time if you are earnest about making money at stock trading.
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. Taking advantage of the experiences and knowledge of other successful traders can quicken your accomplishments a great deal. It doesn't make good business sense to start from scratch because it will take you will lose years of time and tons of money making the exact same mistakes others have already made. Don't reinvent the wheel. Read books and articles by successful traders, take courses or seminars, find counselors or coaches to guide your progress. I guarantee, your road to effective stock trading will be much more enjoyable 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.
About the Author:
W. Alan Gay has been a day trader and mentor for fifteen years. His free report describes Alan's journey to becoming successful at trading stocks and gives useful techniques 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.
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