 01/13/2021 How to Study Like a Self-Sufficient Trader ✔️ How establishing a routine now will help you in the future. ✔️ No bull market lasts forever. Prepare now for tough times ahead...  Self-sufficient traders aren't born. They're created through hard work, lots of studying, and some hard knocks along the way.
Can you become a self-sufficient trader on your own? I believe it's possible for anyone to do it. But the process is long and grueling.
There are ways to shorten the learning curve, but there's no magic process. No matter what, you'll have to put in the work.
I made the transition to full-time trading over two decades ago. I was working a full-time job that was very demanding. But I put in the effort when I wasn't working to learn the skills needed for trading.
Today I want to offer some tips that could help you on your journey.
But I can only show you the way. You must take action. The first thing you need to do is set aside some time. Sponsored Ad "Here's An Incredible Opportunity to Work With a Top Swing Trader…" (This is designed for my most select group of readers)  There are a few openings in my Inner Circle.
Set a Daily Routine
One of the things I love about swing trading is it can be done part-time.
But you still need to put in a consistent effort. You'll need a daily routine that will help you to be consistent.
Don't try to 'find' time every day. We're all too busy, and our other obligations always seem to get in the way.
Carve out some time for studying every day. Maybe you need to get up an hour earlier or go to bed an hour later.
You might find time on your lunch break. Whatever works for you, make it a habit.
Set aside time to study the patterns and the catalysts that move stocks. Spend time reading SEC filings.
If you don't set aside time, you're unlikely to find extra time during the day. Most of us are way too busy for that. But study time alone isn't enough.
You need market time too. I'm not saying you need to be glued to your screen all day, but make sure you're not entirely disconnected either.
Check the markets before you leave your house and again at lunchtime. You don't need to babysit your positions all day long, but swing trading does require daily monitoring.
Don't ignore your positions for weeks. You could come back to find a massive loss, or you could miss an opportunity to sell for a nice profit.
Setting aside time to learn is imperative. Some people try to skip the next step, but I don't recommend it. Start a Study Program
Trading is a profession. Like any other profession, you need to be properly trained to do it effectively.
I'm not here to tell you that this program or that program is the best. Trading is very personal. You need to find what works for you.
Earlier I mentioned I believe it's possible to learn the market on your own. But that's not the fastest or easiest way to do it.
Education helps professionals master their craft.
Find a program that speaks to you and that works with your lifestyle. You need to make sure the trading style fits with your goals and risk tolerance.
Guessing is for gamblers, and gamblers don't last long in the market.
Bull markets, like the one we're in right now, tend to make everyone look and feel like a genius. But heed my warning — the market has ups and downs. No bull market has ever lasted forever.
I recommend you find help from a seasoned expert to help you prepare for the inevitable. Sponsored Ad You Want to Learn Penny Stock Trading - But You It's Time You Met the 30-Day Bootcamp  Want to start trading from home? Guidance and Honesty: Find a Mentor
You need an honest opinion and honest feedback.
But be careful. There are a lot of dishonest people out there who are just trying to take your money.
When finding a mentor, find someone you can trust. You should be able to see all their trades, not just the big wins.
Every trader has losses. But not every trader is willing to share them. Before signing up with any mentor, you need to know their track record.
A bull market can make everyone look like a genius. Find someone who's been through bear markets too.
I've been trading for a long time, and I've had good years and bad ones. But my record is on full display for anyone who cares to look.
Getting the right help is important but the final step comes from you. Persistence in the Face of Adversity
Trading is hard. It takes time to learn, and even longer to master.
When you show up to the market, show up ready to work. But don't rush the process. Most traders fail to make any profits in the long run.
But most traders come to the market looking for quick riches.
You need to understand that every day in the stock market is a learning process. You're going to make mistakes. You'll have losing trades even when you don't make a mistake.
This is a tough business. The people who persevere through the hard times can potentially become self-sufficient traders. But only if they put in the time and effort to learn.
Self-motivation is your key to getting through the hard times.
A mentor can help you along your journey. They can give honest feedback and answer the questions you have.
But when the journey gets difficult, it's up to you to push through. Sponsored Ad  Learning to trade stocks takes time...
And it's especially difficult when you may not have a trade plan, a goal, or a process to follow.
But the SteadyTrade Team changes that.
Just the act of making a good trade plan can make the trading journey easier.
Never Stop Learning
I've been a consistently profitable trader for over 20 years.
My daily routine is still intact. I get up early, eat a healthy meal, and get some exercise in … And I still make time to study.
I question my bias and review new information that the market's dissecting. I talk with other self-sufficient traders I know and we bounce ideas off each other.
But I'm not perfect. I still make mistakes. I've learned to persevere when the times get tough.
I've had years where I didn't make any money at all. But I stuck with it and kept working. And it paid off for me nicely in 2020. I ended the year with more than $4 million in profits.*
In the long run, the time and effort you put in can make a huge difference.
Study up,
Paul Scolardi Editor, Swing Trade Millionaires P.S. 2020 was rough… but it's over now. And it's time to focus on yourself in the new year. So instead of going it alone in the stock market… You need a mentor. If you want to see the difference a good mentor can make in your trading journey, then you can click here to see more.
Get Immediate Access (Free of Charge) Click to read these free reports and automatically sign up for daily research and other important offers. You can unsubscribe at any time.
66 West Flagler Street STE 900 Miami, Florida 33130 United States
*Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here.
This is for information purposes only as Millionaire Media, LLC is not registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. We are not a licensed investment professional, and we do not give investment advice. Always consult a licensed investment professional when seeking investment advice.
Millionaire Media, LLC cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing.
Millionaire Media, LLC in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Millionaire Media, LLC accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns. |
No comments:
Post a Comment