Today I will be revealing some secrets to becoming a successful trader, secrets learnt from my teachers and fellow traders, as well as from my own realizations through my journey in trading. It is a wonderful journey that continues even today. The more I progress, the more secrets get revealed.
If you decide to embark upon this journey yourself and go through this magical world, full of surprises and rewards, where many challenges are sprung upon you, then what I am about to tell you will help you not only navigate the dangerous pitfalls but also help you pick up treasures along the way, should you chose to use the secrets below.
Before you begin as a trader
Before you decide to become a trader, ask yourself: Why do I want to trade?
Is it because you need some money desperately and you hope that trading will quickly get you this money?
Is it because your neighbor is making tons of money and it seems quite easy, so why not do it yourself?
Is it because you want to make some quick cash to go out and enjoy the good things in life?
If any of the above is true, let me be brutally honest: you are starting out with the wrong reasons! Desperation and greed, coupled with the naïve belief that you will get that money from trading within the next few days to weeks, is not only a dangerous path to certain destruction but also to certain doom. Instead of making the millions you dream of, you will quickly be handed down nightmares, where as much will be taken away from you as you risk, and trust me, if you find yourself in this place, it will be very late before you realize how much you have already lost in the hopes of gaining it all back. Stay away from this pitfall, my friend. Walk away if trading is not your cup of tea and you will be happy that you did.
If you are new to trading and don’t have a solid understanding of various trading concepts, check out our free tutorial Teach A Man To Fish – A Foundation To Technical Trading.