Sunday, 2 October 2016

Inevitable Events on Your Trading Journey

There are some common things that happen to most participants in the financial markets on their path to success or during their failures. Some start out with beginners luck only to see it run out and realize they have to build skills. Others have to go through failures for a long period of time before they get to see any success.

Here are some things that are common to experience as you journey into to trading and investing real money.

  • You will lose money. Try to make more than you lose.
  • You will experience emotional pain through losses. Try to keep it limited.
  • You will feels depressed and question yourself and your method during drawdowns of capital.
  • Many of your friends and family will think you are a gambler and it is impossible to make money in the markets through active trading and investing.
  • Many people will discourage you from your pursuit to beat the market.
  • Some people will not like you because you are involved in capitalism.
  • You will question the wisdom of your path and want to quit a lot.
  • You will doubt whether what you are doing is even possible long term.
  • You will develop weird intuitions and feelings after trading for a long time.
  • It will all be worth it one day when you have the freedom you wanted, and can set back and look at the size of your account.

Quote for the day

"Keep your fears to yourself, but share your courage with others." - Robert Louis Stevenson