A lot of traders have no specific reason for trading and investing, they are merely looking to make some quick cash, and that in itself is a huge problem.
If you have no idea where your destination is, how do you get there? How do you use a map to find your way if you have no end in mind? How do you know when you get lost? Without a specific goal, there is absolutely no sense of direction. You need to write down your reasons and know how to plan towards them.
If you don’t do this and you want to leave it to chance, then you might as well be gambling.
You need to understand that trading and investing is a business that is just as real as those who have to rent office space. You are conducting your business in the financial market, which is the biggest stage yet for any business. You need to give it your full attention and understand that you are trading your money and if you don’t get yourself prepared and get to work, you are going to lose at a rate so fast, and it might make your head spin.
Part of being prepared is clearly defining your reasons and not just leaving things vague. The only way you can make fast money is by luck, which I can tell you for a fact is not very dependable or reliable because you’ll end up blowing up your account. Define your end goal and your reasons to get started the right way.
An example of a goal could be to diversify your income and create new streams of resources; this is a real achievable goal as against saying I want to quit my job after one month; this is unrealistic and entirely unhelpful.
Author Bio: Bernd Skorupinski teaches the undiluted truth about trading and investing at Online Trading Campus and takes you through what it takes to be a consistently successful trader. His favorite moment as a trading mentor is the way peoples’ eyes light up with excitement and confidence when they understand how Supply and Demand trading strategy works and how it can help win in the trading arena. He believes in building core values and discipline that ensure his students do not succumb to the pressures and temptations of the market. He very much believes in following plans and strategy through. If you want to know more about the author Bernd Skorupinski please read HERE
Sat, Jun 18, 2022 9:30 AM – 12:30 PM