Any online investor / trader seeks an excellent off or online future trading career opportunity. Despite this goal, did you know 95 percent of all traders go broke within the first two months? Why do investors lose vast amounts of wealth in one or more of the following markets ? option trading, forex trading or currency trading, stock trading, future or commodity trading etc? in such a short amount of time?
Most online investors / traders interact in devastating forms of thinking, which convinces the mind to the point where the trader believes that an educational enhancement ability that develops superb market research skills is not important. On the contrary, if trading is not treated as other business opportunities, the new sales and trading job will cripple the trader. You must develop a purposeful or industrious undertaking to learn how it works. Would you conduct business as a brain surgeon with out a college or university degree? I do not think so; similarly, the same course of action holds true for trading success.
The secret of my success required an earnest and conscientious effort on my part. This action accomplished something to the point of pure boldness; in other words, no matter how boring or non-important you think learning how to trade may be, it must be done to insure a success story.
Every successful company needs a business plan. Yet, when most people take a gamble on the securities industry, they fail to put a trading plan into place. In other words, they end up going on an emotional roller coaster, governed by how the market performs.
Without a trading plan, the majority of traders approach the financial market in an inconsistent manner - i.e. they follow their whims. The typical pattern may include the following:
Day 1 - experiment with option trading
Day 2 - randomly select any online trading brokerage firm.
Day 3 ? try out future trading
Day 4 ? read about oriental trading then decides to go into that direction
Day 5 ? change mind completely and try currency trading or forex trading
Day 6 ? try day trading then in midstream chooses to hold trade for the long term
Day 7 ? venture off into stock trading
Day 8 ? dabble in commodity trading
Day 9 ? give up because you think it is a hopeless cause.
This example is meant to look confusing. Similarly in the illustration above, this trader may use one set of indicators one day, and the next day they will throw these indicators out the window and take on a completely set of new rules.
Unfortunately, with no consistent approach, your trading decisions, governed by emotions, are doomed to failure ??? here is why.
When faced with losing money in the market, what do traders do? Usually, they end up rationalizing to hold on to a losing stock. The driving force behind this is that they do not want to be wrong. They let their ego get in the way of making profits.
LOOK! Let us set the record straight. THIS IS A FIRM FACT - not every trade will be a winner. You will not make the maximum profit out of every trade. There is no Holy Grail trading system! You just need a trading plan, which matches your personality.
When I say trading plan, I am not talking about fundamental analysis or technical analysis specifically, I am talking about setting up a simply a set of guidelines to follow regardless of what stock selection method you use.
In fact, through a study of successful traders, I found there are many different trading methods for entering a security. I have seen people use technical analysis; fundamental analysis even astrology to determine when to enter a trade. Despite these varied entry methods, one component remains the same among successful traders? they all have a trading plan that suits them.
In fact, successful traders have a written plan and my friend this is the essential component to their success. I guarantee that investors who stick like glue to a trading plan are the ones who make NOT LOSE MILLIONS of dollars in their activities of online investing.
-=-=-==-=-=-=-==-=-=-=-=-=-=-=-=-=-=-=-
David Jenyns is recognized as the leading expert when it
comes to designing profitable trading systems.
His most recent course Ultimate Trading Systems is a step-
by-step trading roadmap to designing profitable trading
systems. Learn how *you* can become one of his students.
Click Here ==> http://www.ultimate-trading-systems.com
Receive David's free trading tips by sending a blank email to:
==> http://www.ultimate-trading-systems.com
-=-=-==-=-=-=-==-=-=-=-=-=-=-=-=-=-=-=-
Four blind men were asked to give a description of... Read More
All of the talking heads have been telling us that... Read More
Every day I hear from the "experts" on CNBC-TV and... Read More
Let me start by saying that...Most online brokers do not... Read More
If you have been dealing with mutual funds for any... Read More
Analyzing growth stocks is an important focus for any investor.... Read More
One of the main reasons many of us get into... Read More
Today we are inundated with tons of information about the... Read More
Several times each month I am solicited by various market... Read More
There are many important things you need to know to... Read More
The thinking process of the brain relating to the... Read More
Stocks breakout from properly formed bases everyday but many investors... Read More
I'll bet with almost anyone that has stocks or mutual... Read More
Time to look back2004 is over, now we are in... Read More
Let's say you are interested in this one company. You... Read More
The trash business in its efforts to cook their books... Read More
One of the most believed bits of conventional wisdom from... Read More
The big bad bear is stirring again. So far he... Read More
Ever have one of those sample boxes of candy? Each... Read More
Regardless of the fact that the world's stock markets have... Read More
What a great statement!I just heard someone use it in... Read More
Do you have a financial planner? Does one of your... Read More
First let's see what protectionism is. According to Mr. Webster... Read More
Every day I hear someone on CNBC proclaim that "this... Read More
I am hearing predictions by brokers, financial planners, talk show... Read More
executive chauffeured services Barrington Hills ..After the publication of the first part of this two... Read More
The Dow Theorycharles h. dowcharles h.... Read More
The basis of diminishing return discussions surround such simple notions;... Read More
Do you have a nest egg? You know, a place... Read More
I'll bet with almost anyone that has stocks or mutual... Read More
Ever jumped out of an airplane? It's OK if you... Read More
All stock trading and investing methods must deal with the... Read More
The trading method you employ to approach the stock market... Read More
With the internet such a huge part of our daily... Read More
Invest in the stock market for the RIGHT reason, using... Read More
Very few people, even professionals, have heard of the Dalbar... Read More
One of the basic laws of physics states that a... Read More
A few years back ? it seems like an eternity... Read More
The date October 13, 2000 will forever be embedded in... Read More
Professional stock options traders use the term lean to refer... Read More
After finding the price of a particular stock, usually the... Read More
There are many good penny stock investments available, which could... Read More
You must take the time once a month to review... Read More
As an investor you will want to check out any... Read More
Last time we looked at the real performance of the... Read More
It looks like the market is ready to start up... Read More
Should the market turn against you, it is important that... Read More
Money: the most charged word in the planet. It means... Read More
If you go to Haiti or other places in the... Read More
Now that you have some money burning a hole in... Read More
Stocks & Mutual Fund |