The futures and Forex markets emptying the accounts of thousands of merchants every year. For most entering trade, and this applies to more than 90%, commodities trading represents a very certain financial death.
The markets are ruthless and people go home empty-handed will send without a care.
The opportunities for making money are numerous, and the leverage attracts so many people to jump in head first, that the unreal. It's the ultimate, white collar get-rich-quick arena.
Unfortunately, like all other areas of the get-rich-quick opportunities are sold, the ratio of losers to winners is absolutely horrible.
First thing to do to prevent one of the carcasses left on the battlefield is to realize that trading is not for everyone. It is definitely not for the squeamish or faint of heart. You have resources and a spine of steel.
Second, realize that it does take knowledge. If it's so easy to make millions in the markets, do not you think it would be filled with people today? Like any other business endeavor, you should have an idea what you do have. No one is at the gates with a bag of money hand over to you, just because you came. You actually have to "earn" your fortune here.
Third, recognize that it takes skill. For every opportunity to make money in the market, money there are ten ways to lose it. There are several skills needed to spot the opportunities, but more importantly the skills valuable transactions to plan and then to carry them well to show a profit at the end of the month out.
You first need to know to develop some skills and then have to spend. The power to actually develop those skills and practice Too many people want to ignore this part and just go straight to collect the profits without any trouble.
Fourth is to expand your consciousness. Beyond the greed factor that you have to press that home run in every transaction, that let you retire this month. If you want this to be a profit center for years, treat it as such: long term. Get your focus on doing it right the first time through the preparation, learning and long-term focus.
The other aspect of consciousness is self-consciousness. Make sure you trade with a system that matches your emotional style. You would not be in an occupation that does not agree with your natural inclinations and desires would you? Want a job that requires 80% travel if you hated to travel to take? NO! The only way to trade for the long term success and enjoy the process is to be your own inclinations and desires, and the use of a strategy and the system that is in line with who you are as a person consciously.
Most importantly, you'd better trading with real risk. If you trade with "scared" money, which is money that you really can not afford to lose, then your days are numbered as a trader. You'd probably be better off to stop now and take home what's in your account.
If you earn with your trading capital money, you go to lose almost guaranteed. The emotional pressure on the market are huge, and adding the need to earn money will only obscure and distort your thinking to the point that you make poor trading decisions. In trade, the leverage you on the path to extinction of the first big mistake you make, if you're an emotional mess.
The best way to prevent the market to protect against all the pitfalls out there. Yourself first certain death If you are naive about trading, your biggest risk is your ignorance. The pitfalls are killers on the market, and you can not afford to fall prey to the pitfalls that await you.
Survival requires wisdom, prudence and proper guidance.
Copyright 2006 New Ireland Ventures, LLC
Brian McAboy is a Trader, engineer and author of The Subtle Trap of Trading:? Why So Many Smart People Don t Make Money Trading, and how you on the right path in less than two hours?. For more information,
The markets are ruthless and people go home empty-handed will send without a care.
The opportunities for making money are numerous, and the leverage attracts so many people to jump in head first, that the unreal. It's the ultimate, white collar get-rich-quick arena.
Unfortunately, like all other areas of the get-rich-quick opportunities are sold, the ratio of losers to winners is absolutely horrible.
First thing to do to prevent one of the carcasses left on the battlefield is to realize that trading is not for everyone. It is definitely not for the squeamish or faint of heart. You have resources and a spine of steel.
Second, realize that it does take knowledge. If it's so easy to make millions in the markets, do not you think it would be filled with people today? Like any other business endeavor, you should have an idea what you do have. No one is at the gates with a bag of money hand over to you, just because you came. You actually have to "earn" your fortune here.
Third, recognize that it takes skill. For every opportunity to make money in the market, money there are ten ways to lose it. There are several skills needed to spot the opportunities, but more importantly the skills valuable transactions to plan and then to carry them well to show a profit at the end of the month out.
You first need to know to develop some skills and then have to spend. The power to actually develop those skills and practice Too many people want to ignore this part and just go straight to collect the profits without any trouble.
Fourth is to expand your consciousness. Beyond the greed factor that you have to press that home run in every transaction, that let you retire this month. If you want this to be a profit center for years, treat it as such: long term. Get your focus on doing it right the first time through the preparation, learning and long-term focus.
The other aspect of consciousness is self-consciousness. Make sure you trade with a system that matches your emotional style. You would not be in an occupation that does not agree with your natural inclinations and desires would you? Want a job that requires 80% travel if you hated to travel to take? NO! The only way to trade for the long term success and enjoy the process is to be your own inclinations and desires, and the use of a strategy and the system that is in line with who you are as a person consciously.
Most importantly, you'd better trading with real risk. If you trade with "scared" money, which is money that you really can not afford to lose, then your days are numbered as a trader. You'd probably be better off to stop now and take home what's in your account.
If you earn with your trading capital money, you go to lose almost guaranteed. The emotional pressure on the market are huge, and adding the need to earn money will only obscure and distort your thinking to the point that you make poor trading decisions. In trade, the leverage you on the path to extinction of the first big mistake you make, if you're an emotional mess.
The best way to prevent the market to protect against all the pitfalls out there. Yourself first certain death If you are naive about trading, your biggest risk is your ignorance. The pitfalls are killers on the market, and you can not afford to fall prey to the pitfalls that await you.
Survival requires wisdom, prudence and proper guidance.
Copyright 2006 New Ireland Ventures, LLC
Brian McAboy is a Trader, engineer and author of The Subtle Trap of Trading:? Why So Many Smart People Don t Make Money Trading, and how you on the right path in less than two hours?. For more information,
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