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How to start trading and not get killed...
Is trading (market speculation) risky?
Yes, it is.
You can say it’s obvious...
Anyway, wait a sec.
Have you got a full-time job?
If yes, is it risky, too?
Your answer is probably no.
A thread...
https://abs.twimg.com/emoji/v2/... draggable="false" alt="👇" title="Rückhand Zeigefinger nach unten" aria-label="Emoji: Rückhand Zeigefinger nach unten">https://abs.twimg.com/emoji/v2/... draggable="false" alt="👇" title="Rückhand Zeigefinger nach unten" aria-label="Emoji: Rückhand Zeigefinger nach unten">
Is trading (market speculation) risky?
Yes, it is.
You can say it’s obvious...
Anyway, wait a sec.
Have you got a full-time job?
If yes, is it risky, too?
Your answer is probably no.
A thread...
Negative answer to previous question might be a wrong answer.
Why?
If you work full-time you sell your expertise and especially your own time.
To whom?
To your employer...
Why?
If you work full-time you sell your expertise and especially your own time.
To whom?
To your employer...
You are essentially a small business with only one single customer.
And that customer can cancel your business at any time.
Be sure he/she can...
Or do you think that you cannot get fired?
And that customer can cancel your business at any time.
Be sure he/she can...
Or do you think that you cannot get fired?
So, decision to mitigate that risk is a good decision.
And this thread is related to this decision.
You can either be a creation of your past, or the creator of your future...
The choice is yours...
And this thread is related to this decision.
You can either be a creation of your past, or the creator of your future...
The choice is yours...
1/ You cannot use trading (market speculation) as a quick fix.
There are no shortcuts related to trading or how to start trading.
Simply forget about fast money...
There are no shortcuts related to trading or how to start trading.
Simply forget about fast money...
There is a ton of ads on the Internet and social media that look as this:
“Our bulletproof trading system... You only need twenty minutes per day. No prior experience needed...”
“Our bulletproof trading system... You only need twenty minutes per day. No prior experience needed...”
I cannot say if that trading system is profitable or not.
This is not important...
However, I can say that you will surely fail...
This is not important...
However, I can say that you will surely fail...
Your only competition is in the mirror.
Your own enemy in trading is only you.
Not market...
The market does not care about you.
You simply will not be able to follow that trading system.
You can find more about this topic later in this thread.
Your own enemy in trading is only you.
Not market...
The market does not care about you.
You simply will not be able to follow that trading system.
You can find more about this topic later in this thread.
Please, take a look at the next list:
https://abs.twimg.com/emoji/v2/... draggable="false" alt="➡️" title="Pfeil nach rechts" aria-label="Emoji: Pfeil nach rechts">You& #39;ve lost your job due to the coronavirus crisis.
https://abs.twimg.com/emoji/v2/... draggable="false" alt="➡️" title="Pfeil nach rechts" aria-label="Emoji: Pfeil nach rechts">The impact of COVID-19 on your (small) business is devastating.
https://abs.twimg.com/emoji/v2/... draggable="false" alt="➡️" title="Pfeil nach rechts" aria-label="Emoji: Pfeil nach rechts">You& #39;re looking for a change.
https://abs.twimg.com/emoji/v2/... draggable="false" alt="➡️" title="Pfeil nach rechts" aria-label="Emoji: Pfeil nach rechts">You need more money.
https://abs.twimg.com/emoji/v2/... draggable="false" alt="➡️" title="Pfeil nach rechts" aria-label="Emoji: Pfeil nach rechts">You need more free time.
If you can find yourself in previous list please be very careful.
You cannot use trading as a quick fixhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="❗️" title="Rotes Ausrufezeichen" aria-label="Emoji: Rotes Ausrufezeichen">
There are no shortcuts related to the trading...
You cannot use trading as a quick fix
There are no shortcuts related to the trading...
It will take at least a few years to get profitable (or break-even as a minimum) in trading business.
At least a few years...
Simply forget about fast money...
At least a few years...
Simply forget about fast money...
2/ Trading is a business.
The toughest business in the world.
Your competitors are the best from the best.
It isn& #39;t a fun.
A fun in trading is very expensive...
The toughest business in the world.
Your competitors are the best from the best.
It isn& #39;t a fun.
A fun in trading is very expensive...
You cannot treat it as a hobby.
Otherwise, you get killed.
You need to treat your trading like you would operate a profitable business...
Otherwise, you get killed.
You need to treat your trading like you would operate a profitable business...
The word "profitable" is important.
Making money is the goal in the trading.
And it& #39;s boring...
Yes, profitable trading is most of the time boring.
Making money is the goal in the trading.
And it& #39;s boring...
Yes, profitable trading is most of the time boring.
Don& #39;t try to start this trading business following your passion.
It& #39;s wrong reason.
You need a desire to work hard at something that looks good on a spreadsheet.
It& #39;s boring stuff.
You want to be the grinder, not someone who loves his job...
It& #39;s wrong reason.
You need a desire to work hard at something that looks good on a spreadsheet.
It& #39;s boring stuff.
You want to be the grinder, not someone who loves his job...
Passionate traders are more likely to take big risks in the pursuit of “unlikely goals.”
And "proper goals" is a topic of the next chapter...
And "proper goals" is a topic of the next chapter...
3/ You need realistic goals.
We can take a look at another type of messages (advices, ads, ...):
“Your trading goal is to make 5% ROI per week. Or 10% per month …”
We can take a look at another type of messages (advices, ads, ...):
“Your trading goal is to make 5% ROI per week. Or 10% per month …”
As a beginner trader (speculator) forget about this type of targets.
Immediately now...
The first target is stay alive.
Yes, stay alive.
If you set yourself unrealistic targets, you& #39;ll be doomed to fail from the beginning of your trading journey.
Immediately now...
The first target is stay alive.
Yes, stay alive.
If you set yourself unrealistic targets, you& #39;ll be doomed to fail from the beginning of your trading journey.
You will need to take ownership of your trading and your life immediately from the beginning.
You have to have complete control over your financial destiny.
You have to have complete control over your financial destiny.
You’re fully responsible for your trading results.
Only you…
No excuses.
The moment you start to blame the market you start your path to the hellhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="❗️" title="Rotes Ausrufezeichen" aria-label="Emoji: Rotes Ausrufezeichen">
Only you…
No excuses.
The moment you start to blame the market you start your path to the hell
4/ Can you become a successful trader?
Yes, you can.
Definitely yes.
You only need a belief in your own abilities.
And do action…
Actions that are aligned with your internal believe system.
Yes, you can.
Definitely yes.
You only need a belief in your own abilities.
And do action…
Actions that are aligned with your internal believe system.
You have to believe in what you are doing.
And be fully committed…
However, it’s not going to happen over a few days.
Be very careful.
I really don& #39;t want you get killed…
And be fully committed…
However, it’s not going to happen over a few days.
Be very careful.
I really don& #39;t want you get killed…
Always use a common sense.
No one can teach you to trade in a few days.
Easily...
Without sweat and tears.
Remember, there aren& #39;t shortcuts out there in the trading environment...
No fast money.
No one can teach you to trade in a few days.
Easily...
Without sweat and tears.
Remember, there aren& #39;t shortcuts out there in the trading environment...
No fast money.
5/ Be honest to yourself.
How many times have you s*it your pantshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="❓" title="Rotes Fragezeichen-Symbol" aria-label="Emoji: Rotes Fragezeichen-Symbol">
Put your hand on your heart and tell me…
Are you improving yourself?
At least in one endeavor of your life?
Or…
Are you improving only your excuses?
How many times have you s*it your pants
Put your hand on your heart and tell me…
Are you improving yourself?
At least in one endeavor of your life?
Or…
Are you improving only your excuses?
