How many times have you asked this question? Tens of millions of people are trading on the stock market worldwide, and only 8% of them are profiting on long-term basis. Are you among them? Or are you among those 92% of the others, who are feeding us, successful traders?
If you belong to the 92%, I would like to show you where might be the potential mistakes you do. Those are occasions where lots of traders are making a mistake, and I have not been different in the past. But then I found my own way.
You do not want to make money
It sounds very absurd, isn´t it? But it does not mean you do not want to make money, it means you want to earn heavily lot of money. You are not satisfied with profits of 20% -60% per year and with a reasonable risk, you want 100% and more per month. If you are targeting such profits, then your mind is going in the wrong direction. You are trying to find ways to earn really a lot, but having profits of hundreds of percent per month is virtually impossible in the long term perspective. It is much easier to earn 60% per year and gradually build up your capital, than trying to be a millionaire with $ 500 within one year. If you make this mistake, change your mind. Learn to earn tens of per cent a year and build up your capital. You will see that this is much easier way.
Not only you want lot of money but you want it fast
This is something I meet almost every day, queries like “can I be profitable in two months?” Do not push so much. Give it time. Trading is business like every other and you have to learn it. This path can take a year, for someone maybe three years, but it is a beautiful journey full of understanding and personal growth in more directions than just trading. My experience is that those who went through this path and become successful traders will also become successful entrepreneurs and build other values than their trading account. And it really is worth it :). The path to profitability and experience is the most beautiful thing from the whole trading.
You are looking for a ready-made recipe for success
The beautiful thing about trading is that the experiences can be passed to other traders. But you always have to put a piece of yourself in it. Find something I like, adjust it to your soul and your psyche. Simple copying can bring results, but you probably will not feel comfortable. You don’t want to trade only, you want to create, invent and seek new approaches. Trading is a beautiful business full of many approaches, methods, options. I’ve been doing it for ten years, and in terms of what it offers, I’m basically at the beginning, I still have tremendous opportunities to learn. If you want to discover its options, you will have to keep going, diversifying the portfolio between different trading methods, and you will become stable, self-confident and you will feel better and better.
So have you found yourself in it? And if so, what are you going to do about it? If you do not know, write me, we can talk about it, I can advise and help you with direction. Many people helped me before and now it is my turn to pay it back.