Recently I was asked the question regarding potential earnings from trading the first year….this is my response:
Disciplined is KEY….and over 90% of people in general severely lack discipline. For example, look at all the overweight people who struggle to get in shape….know what to do, but do NOT have the discipline to do anything about it. Trading is no different. It takes at least 5-6 years of serious studying of the markets, investing in structured classes, hiring a mentor, and trading with real money to learn and master successful trading strategies and develop your “own” system. MOST people will tell you they want to be successful in trading….but just like getting physically fit – over 90% of the people are NOT willing to sacrifice and do the work.
The first 5-6 years of trading should NOT be about making money, but like any other profession, it should be about learning, practicing under the guidance of someone who is already trading successfully, and going through the self-discovery process of what type of a trader or investor are you…..no two people trade the same.
Trading for a living is extremely rewarding – but it requires an incredible amount of investment in time, money, and education. Just like getting physically fit, it is not easy….but it is very rewarding for those that stay the course. If you are just getting started, think of it as entering your first year of college in a 5 – 6 year Master program. You are spending your time learning – not getting a job in your chosen profession to make money – once you “graduate”, then you can focus on earning a living from the markets.
It is not what most people want to hear – but for those that truly have the desire, passion, and discipline, the rewards are just around the corner.
Trade Well,
Dinger
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