It’s important to give this some serious thought and understand why you want to trade. I’ve heard lots of reasons over the years, and here are some of the more common ones, starting with the most obvious one.
1. Financial Freedom
The term financial freedom can mean lots of things to lots of people but most people dream of “trading for a living” and have visions of sitting at a computer monitor all day watching the markets carefully and making multitudes of trades. Take it from me, that’s just about the hardest way to make a living trading and you’ll be up against some of the smartest people on the planet with access to some of the most sophisticated computer models available.
There are much easier ways to make money from trading and I’ll show you my method in this book. You don’t necessarily need to make enough to support a lifestyle. Some traders simply look to make a regular income and pay for things like mortgages or cars. Either way, you can certainly make serious money if you know what you are doing and have a sufficient bank roll.
2. Escape from Fools
I used the word fools here but you might have a different word for them. You know the types, professional critics with no talent or passion for anything or anyone. They suck the life out of any situation and you quickly develop the need to punch them in the face and never stop. Trading offers a way of never having to deal with them and even if you come across one you can simply tell them to go forth and multiply and REALLY enjoy doing it!
3. Escaping the Man
The real beauty of successful trading is that you don’t have to rely on anyone else. There is no getting up at the crack of dawn, commuting through heavy traffic (and the inevitable fools) and then having to listen to some buffoon of a manager pontificate about something you have no interest in and no desire to learn. If you are really good you can also free yourself from any reliance on a monthly paycheck.
4. Flexibility
This is one of my favourites. When i was employed full time, I had to request permission to take holidays and that really pissed me off.
I like the freedom to do what I want to do when i want to do it and trading gives me that freedom. You can also “work” from anywhere in the world as long as you have a reliable internet connection (which is virtually 100% of the developed world)
5. Kid Time
For those future traders who have children, trading gives you the freedom to see them grow up, including attending school events and getting them to and from school. You can’t get missed time with your kids back so this is a great reason to develop your trading skills.
6. A Level Playing Field
Successful trading is blind to educational level, colour, race or religious affiliation. If you can learn some specific techniques then you can become a successful trader. You’ll need patience, discipline and persistence. The real trick of successful trading is psychological and this is the main reason people lose money in the markets and give up trading.
7. The Ability To Help Others
If you are a successful trader then you’ll have the ability to make serious money for the rest of your life. This puts you in the enviable position of being able to help other people and this can give you real and sustained satisfaction. Anyone who needs help (and you think it’s deserved) can be given help and it’s one of the most satisfying reasons to be a successful trader.
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