Today, I will be revealing some of the 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 seem to get revealed.
If you decide to embark upon this journey yourself, delving into a magical world filled with surprises and rewards, where many challenges are sprung upon you, – then what I am about to tell you will not only help you to navigate the dangerous pitfalls, but it will also help you to pick up the treasures along the way (should you choose to use the secrets below).
Before you begin as a trader…
Before you even decide to become a trader, ask yourself: Why do I want to trade?
Is it because you need money desperately and you hope that trading will be a means to quickly aquire it?
Is it because your neighbor is making large amounts of money and it seems to be quite easy, – so why not do it yourself?
Is it because you want to make a bit of quick cash that you can use 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 aquire this money through trading- within the time span of the next few days (or 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 faced with stressful nightmares of loss, where as much will be taken away from you as you risk. Trust me, if you find yourself in this place, it will be too 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.