Keys to Trading For a Living
You're working a job and maybe it's a good job.
However you're thinking about what really makes you happy.
What you really like to do and find interesting.
Stocks might be a major interest.
You like picking stocks.
You may find fundamentals or technicals of stocks interesting and a challenge.
Yep you've really thought seriously about trading for a living.
What needs to happen to take trading beyond a hobby or minor source of income? Family support is huge for your psychological success.
You will need a supportive spouse that understands what you are doing and that their is risk in starting a business.
Personal finances must be in good shape.
Running the credit card up to finance your business is not a good idea.
You don't need stress like that as this trading business will be tough enough.
You need to have a decent trading account to trade for a living.
This is a trading business and starting a trading business requires a plan.
Create a trading plan and set goals for your trading.
Keep a journal to record your results and no excuses allowed.
Trading for a living can be done different ways.
You may be a day trader, swing trader or longer term position trader.
Whatever type of trader you are you must trade for the long term.
This isn't a gamble and it's not about short term gains or losses.
The bottom line is picking stocks is going to make or break your business.
You must have a logical trading system that gives you a definite edge.
Money management is critical for your trading account and within each trade you take.
Keep a daily schedule just as you would in any business and stick to it.
Starting a trading business involves more than picking stocks or looking at the latest stock trading software.
You must take it seriously.
TV stock gurus are certainly not to be listened to just as a doctor wouldn't be taking advice from a TV medical guru.
Once again, run your trading business like a business and you will be halfway to meeting your trading goals and make a successful living.
However you're thinking about what really makes you happy.
What you really like to do and find interesting.
Stocks might be a major interest.
You like picking stocks.
You may find fundamentals or technicals of stocks interesting and a challenge.
Yep you've really thought seriously about trading for a living.
What needs to happen to take trading beyond a hobby or minor source of income? Family support is huge for your psychological success.
You will need a supportive spouse that understands what you are doing and that their is risk in starting a business.
Personal finances must be in good shape.
Running the credit card up to finance your business is not a good idea.
You don't need stress like that as this trading business will be tough enough.
You need to have a decent trading account to trade for a living.
This is a trading business and starting a trading business requires a plan.
Create a trading plan and set goals for your trading.
Keep a journal to record your results and no excuses allowed.
Trading for a living can be done different ways.
You may be a day trader, swing trader or longer term position trader.
Whatever type of trader you are you must trade for the long term.
This isn't a gamble and it's not about short term gains or losses.
The bottom line is picking stocks is going to make or break your business.
You must have a logical trading system that gives you a definite edge.
Money management is critical for your trading account and within each trade you take.
Keep a daily schedule just as you would in any business and stick to it.
Starting a trading business involves more than picking stocks or looking at the latest stock trading software.
You must take it seriously.
TV stock gurus are certainly not to be listened to just as a doctor wouldn't be taking advice from a TV medical guru.
Once again, run your trading business like a business and you will be halfway to meeting your trading goals and make a successful living.
