ANSWER YOURSELF HONESTLY TO THE QUESTION: WHY DO I WANT TO BE A TRADER?
Almost everyone who touches the world of stock trading, even on a very limited basis, dreams of someday becoming a professional trader. Make a living stock trading is a worthy goal of many talented and hardworking people.
There is no doubt that no sphere of activity can not be compared with stock trading where by investing a minimum of, it is possible (theoretically, of course) in a very short period of time to become fabulously rich. Stories of people such as for instance, Nicolas Darvas who turned $ 30 000 and more than 2 000 000 $ in about 18 months, creating the illusion of how quickly you can get huge money doing stock trading, if the "converge all stars".
In addition, you do not need to have a super large start-up capital or to a degree, before that having spent a few years wiping his pants at the academic audience to try their hand at trading. You can "open small trading business" quickly and cheaply. Thus, when considering the different ways to turn a small amount of money in a very large, stock exchange trading often seems like a quick and easy way to get rich.
Of course, the above described fantastic scenario. Everything works not so.
The trader is responsible to anybody for his work – his employer, the chief, the boss. He can trade almost anywhere. No employees or colleagues, and there is no need to take in daily office politics and squabbles. You can trade in the morning, sitting at the computer in my Bathrobe and house Slippers, and then go for a walk in the Park, and no one can accuse you in lack of proper management of the workflow. The appeal of this type of freedom fueled by the idea of self-sufficiency.
It's true about self-sufficiency and true and complete freedom.
However, freedom, in the same way as money is very weak as a motivation for the choice of profession trader at all, and in order to become a successful trader in particular.
Let us face the truth: money and freedom (independence) can be obtained in a number of other professions. Why, instead, to become a professional golfer, poker player, artist, writer or musician, you need to become a stock trader? Because success in any of these professions (and this is not a complete list), of course, will lead to the abundance of money and freedom. And the threshold for entry and start-up capital required in the same range as in trading. So why sell? Why do you want to be a trader?
Real professionals in this field are motivated by something other than just money and freedom. They are driven by something I would call Intellectual gamesmanship...
In other words, top traders choose to undertake this profession because they like the idea of creating a rich and self-sufficient life through practice of their own intelligence. Looking closer to world leaders in this profession, you can see what really makes them tick. You will see that almost all successful traders at the same time, and big thinkers.
Read an interview with Ed Seykota, and in them you will find that it says more about the convergence of psychological tendencies and metaphysics than it does about their trading methodology. Read Vic Sperandeo's book"Trader Vic — Methods of the masters of wall street" and you'll find that this well-known trader turns his book into a Manifesto on the political and philosophical virtues of the theory of objectivism Ayn Rand.Reading the autobiography of Mark Ritchie "God exchange", you will find that it is more about the spiritual journey of this legendary trader than on his way to success in trading.
Pay attention to how famous traders such as Richard Dennis, George Soros, Jim Rodgers, Larry Williams, and William O'neil was deeply involved in politics as thinkers, community leaders, initiators, fundraisers, writers, or active participants in social life in General. View an excellent blog James Altucher and notice several of his articles have nothing to trade at all.
The point is, with few exceptions, the most successful traders are drawn to trading because they see it as one big intellectual game. They are intrigued by the idea to earn on life, relying only on the power of his mind and intellect. But this has no relation to the now fashionable concepts about a variety of "laws of attraction money with the power of their own thinking", they say, everything that you need in order to become rich and happy is just to think positively but to build in your head affirmations. Guide for the lazy to gaining wealth under the motto "think good thoughts and money will flow to your pocket" in this case doesn't work.
In order to become a successful trader, you will need an extremely high level of mental stamina. There are very few professions that would require a man almost daily manifestations of similar psychological, mental and mental features. If you want to be a trader just for the sake of money and freedom, then, most likely, pretty soon you will have to reconsider its attitude to this profession. The fact is that money and freedom are a great short-term motivators, but in order to become a professional and succeed, you'll need much more than a simple desire to be rich and independent.
If the trading attracts you intellectual game that moves the markets, then you are on the right track and sooner or later, but inevitably will be in the good company of high-level professionals. And if you are drawn to trading because you like the idea to make a living using your intellect, you obviously are doing everything right, and in this case, the positive outcome of your activities is inevitable. Ponder at leisure on why exactly you want to be a trader.
And finally, beware of different teachers who have in the office computer monitors more than books. It is unlikely they will be able to teach you something really useful.