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Not everybody can be a prospering day trader
Truth be told. Anybody can be a day trader, but not everybody can be a prospering day trader. Just like everything in life, to be prospering you have to put in the time to learn the process, encounter problems, find means to resolve them and hone the skills you have built so that the task becomes second nature to you. Any type of activity in which to learn it, you have to risk real money, not monopoly money, it is in your best concern to do all you need to, to practice and learn without risking any funds.
As you making live trades, learning and making mistakes so is your stack of money going down. If you are good, by the time the money is done for you would have learned one or two things. But, it's a vicious cycle; you are out of money to horn the skills you have developed, so you have to start all over. You start to save money, by the time you have enough money to get back and start trading and learning from where you left off, you have forgotten the skills you have already acquired and the cycle repeats itself again.
However, there is a solution to this. It still will involve you doing some work; there are no easy roads to success. You will still have to learn the process of trading, all the terms, how to place trades, how to study market trends and use them to your advantage.
Basically it is the real deal, but you are not playing with your own money. This system will allow you to make mistakes, develop a strategy, learn from your mistakes, learn how to control your emotions, study stock trends to at least understand the effects on the price of shares in the market and be able to make a calculated guesses on which way the price of the stock you are monitoring might go.
There are certain rules you must follow to be a successful trader and they include:-
- Learning the process first before participating
- knowing when to quit
- Not borrowing money to trade with. It sucks when you lose money and it's really a pain when you have to pay it back
- Never risk it all to make up for earlier losses
- Do not act on wims and gut feelings
- Have a strategy and stick to it no matter what the market is doing
Getting good in any activity golf, swimming, basketball, surgery, stock trading, being a ladies man too, needs practice practice practice. You will be amazed at how much time professional athletes at the top of their game exercise daily to be able to remain where they are. That should give you an idea of how much work you need to put in to safe guard your money first and then make a profit and a living out of day trading. Practice makes perfect.
As you making live trades, learning and making mistakes so is your stack of money going down. If you are good, by the time the money is done for you would have learned one or two things. But, it's a vicious cycle; you are out of money to horn the skills you have developed, so you have to start all over. You start to save money, by the time you have enough money to get back and start trading and learning from where you left off, you have forgotten the skills you have already acquired and the cycle repeats itself again.
However, there is a solution to this. It still will involve you doing some work; there are no easy roads to success. You will still have to learn the process of trading, all the terms, how to place trades, how to study market trends and use them to your advantage.
Basically it is the real deal, but you are not playing with your own money. This system will allow you to make mistakes, develop a strategy, learn from your mistakes, learn how to control your emotions, study stock trends to at least understand the effects on the price of shares in the market and be able to make a calculated guesses on which way the price of the stock you are monitoring might go.
There are certain rules you must follow to be a successful trader and they include:-
- Learning the process first before participating
- knowing when to quit
- Not borrowing money to trade with. It sucks when you lose money and it's really a pain when you have to pay it back
- Never risk it all to make up for earlier losses
- Do not act on wims and gut feelings
- Have a strategy and stick to it no matter what the market is doing
Getting good in any activity golf, swimming, basketball, surgery, stock trading, being a ladies man too, needs practice practice practice. You will be amazed at how much time professional athletes at the top of their game exercise daily to be able to remain where they are. That should give you an idea of how much work you need to put in to safe guard your money first and then make a profit and a living out of day trading. Practice makes perfect.
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