This is an all too common scenario. Every day hopeful people are drawn to the big profits of day trading only to be disappointed and in many cases financially much worse off.
Imagine you decided to start a brand new career in an area you have little or no expertise in. You pay some money and you start this new venture with much hope, but quickly find you are not equipped emotionally or educationally to run the business. But you press on regardless because you were told that its really easy and that anyone could do it.
This is exactly what happens to many people who start day trading. What makes you think you can just pick up the skills to enter a multi trillion dollar market, full of very clever and experienced traders.
The Right Training.
You need the right training. Now many people want to bypass this because it may cost you a few thousand dollars. You may have to go to some seminars, do some study, and worst of all you may have to delay your entry into making money. If you don’t want to, or can’t afford $5000-10,000 for education and another $5000-$10,000 to fund your account then perhaps this isn’t the right time to start your trading career. Your education is the cost of doing business.
You know how much a college education costs, and there aren’t any guarantees that you will get the job you desire. But with a trading education you should be properly equipped to trade after 2 two or three months. Your course should provide you with DVD’s and written manuals, to suit all learning styles. You should have access webinars where you can follow live trading.
You should get a free training platform, to practice your entries, exits and seeing the technical setups. You should have access to a live trading room, so that when you start trading for real you can be guided in your trading selections. You should be given the option of an SMS cell phone alerts.so that you don’t have to be tied to your trades.
Your entire course should be covered by a full money back guarantee or a reasonable period. So that if you find that day trading really isn’t for you then you have no risk. If you are not offered a guarantee, then question their confidence in their training. You should have access to your broker at least in the learning phase to answer your questions.
You should be offered advanced training, so that you can continue to grow and develop as a trader. This is critical as you will increase your level of trading and your risk and you will need the skills to do that. You should receive as part of your training very specific stress management. Trading success is 80% emotionally, if you can’t get your head around it, you won’t succeed.
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