Your first several months, even up to the one year mark, you will be learning so much new information, not only about the markets and technical trading, but also about your own emotional demons. This is a time for learning and introspection. Too often new traders have too short of a time line, they get frustrated and then do something stupid, like go on tilt and blow up their account. These are the horror stories you hear. This article is meant to make you aware of these things to help you avoid these potential pitfalls.
Once you learn the technicals and master your emotions (which can take a while) you will quickly realize that day trading is just a game of odds. If you follow your trading plan closely you will make money. It’s when you break the rules and do foolish things that bad stuff happens. Don’t let that be you.
TRADING CAN BE AN AMAZING CAREER
We’ve talked about the difference between fundamentals and technicals, as well as the reason why most traders fail. Let’s change things up and talk a little about why it’s such an incredible business.