Trading the Markets As a Profession
Trading the Markets for a PROFESSION.
Wouldn't it be great to walk out of your beachfront home, sit on the terrace in the warm sun watching the waves gently lap the golden sand, having just made $5,000 in a few minutes.
What a great way to live.
Just take a few moments to picture that scene, see yourself there, feel the warm caribean breeze, smell the warmth and scents.
OK, that's enough, back to reality.
There's no doubt that YOU could really get there, seriously.
And of course it's just so easy, or at least that's what everyone "selling" trading as a dream tells you.
And so with that expectation is it that most people have their first encounter with "trading".
For me, it was 11 years ago and I blame a guy called Ken Roberts; you may have heard of him although I don't think he's still selling anything.
He said that if I'd have bought sugar last year at $??? whatever, 6 months later I could have made $100,000 %2B.
And that's just one commodity! There's dozens out there.
Needless to say I didn't make $100,000 the following year.
But I do now..
..
...
Ok, it's 11 years later and during that time I "invested" $'000's in books courses, systems, software, and seminars.
Oh, and of course I lost $'000's more in actually trading! Everyone I've ever spoken to who doesn't make a living from trading has huge expectations.
Everyone I've spoken to who does make a living trading has very down to earth expectaions.
So, here's lesson number one: be realistic.
It's just not realistic to expect to acquire the knowledge and skills, and experience that you need to succed at trading in a matter of months.
Just can't be done.
Now that may come as a bit of a reality check from a guy that sells courses on trading.
Surely I'd make more money doing what everyone else does and hyping the whole into fantasy land.
Well, I guess I would, but I do like sleeping peacefully and to tell anyone something I know isn't true like that would give me sleepness nights.
So, how DO you get to be a professional trader.
Route one.
Get really great qualifications in Egyption History, then walk into a Top Ten bank and get a job trading other peoples money and have them pay you $1m a year plus bonuses.
It happens!! Route two.
Accept that you need to learn this new profession from the bottom up.
Accept that it's gonna cost a lot of money, and will take several years dedicated effort.
BUT, BELIEVE that YOU CAN DO IT.
This is the easier route of the two.
You will need to spend several thousands on books and courses and seminars.
Accept there's no "easy" or "quick" way.
You need to understand how markets work, how psycholigy plays the biggest role, how to mange your account, how different charts tell you different things and how it all fits together, you need to understand risk and reward.
So much...
You then need to actually trade - but have no expectaion of winning until you've experienced the hard knocks that the markets have in store for you.
Most of all you need to get to know yourself.
Understand your strengths and weaknesses, because the market will find them and exploit them to your cost.
You need to be able to protect yourself against this.
(Read "The Art of War - for Traders") Then finally you'll be able to trade and not lose money.
From here it's now a short step to making money and that final goal you've dreamed of.
However it never really gets "easy", you never really have a eureka day when you feel "I've made it".
Trading is so unlike any other endeavour because even when you've got it right and make money overall you still have losing trades.
The key is to be able to a In the meantime trade carefully.
Protecting your capital is the number one priority so trade defensively and never ever stop learning.
Have a great life, Matt Sharp
Wouldn't it be great to walk out of your beachfront home, sit on the terrace in the warm sun watching the waves gently lap the golden sand, having just made $5,000 in a few minutes.
What a great way to live.
Just take a few moments to picture that scene, see yourself there, feel the warm caribean breeze, smell the warmth and scents.
OK, that's enough, back to reality.
There's no doubt that YOU could really get there, seriously.
And of course it's just so easy, or at least that's what everyone "selling" trading as a dream tells you.
And so with that expectation is it that most people have their first encounter with "trading".
For me, it was 11 years ago and I blame a guy called Ken Roberts; you may have heard of him although I don't think he's still selling anything.
He said that if I'd have bought sugar last year at $??? whatever, 6 months later I could have made $100,000 %2B.
And that's just one commodity! There's dozens out there.
Needless to say I didn't make $100,000 the following year.
But I do now..
..
...
Ok, it's 11 years later and during that time I "invested" $'000's in books courses, systems, software, and seminars.
Oh, and of course I lost $'000's more in actually trading! Everyone I've ever spoken to who doesn't make a living from trading has huge expectations.
Everyone I've spoken to who does make a living trading has very down to earth expectaions.
So, here's lesson number one: be realistic.
It's just not realistic to expect to acquire the knowledge and skills, and experience that you need to succed at trading in a matter of months.
Just can't be done.
Now that may come as a bit of a reality check from a guy that sells courses on trading.
Surely I'd make more money doing what everyone else does and hyping the whole into fantasy land.
Well, I guess I would, but I do like sleeping peacefully and to tell anyone something I know isn't true like that would give me sleepness nights.
So, how DO you get to be a professional trader.
Route one.
Get really great qualifications in Egyption History, then walk into a Top Ten bank and get a job trading other peoples money and have them pay you $1m a year plus bonuses.
It happens!! Route two.
Accept that you need to learn this new profession from the bottom up.
Accept that it's gonna cost a lot of money, and will take several years dedicated effort.
BUT, BELIEVE that YOU CAN DO IT.
This is the easier route of the two.
You will need to spend several thousands on books and courses and seminars.
Accept there's no "easy" or "quick" way.
You need to understand how markets work, how psycholigy plays the biggest role, how to mange your account, how different charts tell you different things and how it all fits together, you need to understand risk and reward.
So much...
You then need to actually trade - but have no expectaion of winning until you've experienced the hard knocks that the markets have in store for you.
Most of all you need to get to know yourself.
Understand your strengths and weaknesses, because the market will find them and exploit them to your cost.
You need to be able to protect yourself against this.
(Read "The Art of War - for Traders") Then finally you'll be able to trade and not lose money.
From here it's now a short step to making money and that final goal you've dreamed of.
However it never really gets "easy", you never really have a eureka day when you feel "I've made it".
Trading is so unlike any other endeavour because even when you've got it right and make money overall you still have losing trades.
The key is to be able to a In the meantime trade carefully.
Protecting your capital is the number one priority so trade defensively and never ever stop learning.
Have a great life, Matt Sharp
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