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Getting to the Truths of Stock Trading

July 1st, 2009

There are a lot of wrong ideas buzzing around about the field of stock trading that arouse new trader’s doubts and keep others from pursuing the field at all. As a successful trader for over 15 years, I prefer to take a more positive approach and deal with the prevailing truths that exist in the field of stock trading. Here are just a few.

1. You will be successful at stock trading if you can keep your trades consistently low risk over time. Sure, you might miss out on some of those too good to be true, windfall trades that all the movies are centered around.However, I have discovered that searching for that godsend trade does nothing but result in a horrendous loss that can completely demolish the portfolio you have been working so hard to build.Better to stay lower risk with steady profits over time if you are looking to make stock trading more than a hobby.

2. You don’t have to spend all day trading to be extremely successful.It does not have to be a nine to five job.Now, don’t misunderstand.I’m not implying that stock trading is another make money while you sleep angle. It takes time and effort to learn the systems needed to achieve success at stock trading. But, by using GAP trading capably, I trade for two to four hours per day, plus one more hour of prep time.And, I earn a great living.You can too, if you can find the right process to do so.

3.advantage of the experiences and knowledge of other successful traders can quicken your accomplishments a great deal. Don’t start from scratch because it will take you 10 or more years and a lot of money to make all the mistakes others have already made.It is just resourceful business sense to build on the knowledge of others.Don’t reinvent the wheel? Instead, read books by successful traders, take classes, find mentors, and use the wisdom of others to make your road more pleasurable and secure.

Stock trading is often portrayed as mysterious and hard for “regular guys” to understand.Take it from a regular guy, that idea is not correct. With the right systems in place and a working knowledge of the basic truths of stock trading, anyone can be successful.

To read about other lessons I learned in my fifteen years as a day trader and coach, as well as tips and techniques for becoming successful at stock trading, read my free report “From Video Junkie to Day Trader,” and learn more about how you could be trading stocks profitably in as little as two weeks.

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