Do You Have What It Takes?
The quick answer is, "YES you
You will need
I think it has become more difficult to be a successful trader. This is not because there is a lack of information and options available because there is ample available and this is now a part of the problem. Before new traders even begin their real development as a
It takes time to develop
For most traders, it will take almost two years to get to the real starting line. This is where your official development begins. It is after you have had your fingers burnt from various online environments and your own sabotage.
In my very early days as a trader, I recall a conversation at the time with another newbie and he mentioned that he wanted to craft his trading skills over the next five years. At the time I thought it was a ridiculous statement to make but knowing what I know now, that was a very smart and thought out commitment. The trader had a development plan in place.
What are the trading traps?
They are all around you. Each step and trade creates a new environment to fail. Everything from money management, trade selection, and trade management can consume your thinking.
The trading world brings with it the opportunity to make money or lose money. The only way we keep score is by observing the funds in our trading account. We see this as a reflection of our own image when in fact it is a process.
We then need to identify and deal with our own psychological battles. These scars carry the most burden and are the most difficult to repair for our trading world.
Most times, the courage to deal with our trading psychology is the final frontier within the trading cycle. It should be the first issue that we deal with however that is not possible as we need to take on the battle first before we can correct them, it can only be this way.
A few ideas that might help you
First, you need to understand that the art of trading is always
Ground yourself in quality information and traders that have had many years of trading. These are the traders that have been through the school of hard knocks.
Invest into your trading. Those that think they will learn how to be a successful trader without investing some real dollars into their development need to think a little deeper about the situation.
Think and grow rich
Napoleon Hill wrote "Think and grow rich" and
If you are serious about your development as a trader, take up this book and apply it to your trading and life. I promise you it will make a huge difference to your outcomes and your thinking.
It is all on you
Nothing in life is free; there is always a price to pay.
In a world of blame, it is easy to give up but guess what? Trading is
Enjoy your development and have a look at my course on price action trading.