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
first two months? Why do investors lose vast amounts of wealth in one or more of
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
mind to
point where
trader believes that an educational enhancement ability that develops superb market research skills is not important. On
contrary, if trading is not treated as other business opportunities,
new sales and trading job will cripple
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,
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
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
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
market performs.
Without a trading plan,
majority of traders approach
financial market in an inconsistent manner - i.e. they follow their whims. The typical pattern may include
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
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
illustration above, this trader may use one set of indicators one day, and
next day they will throw these indicators out
window and take on a completely set of new rules.