1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Chapter 5, Part VII. Some revelations… Page 2

Discussion in 'Complete Trading Education- Forex Military School' started by Sive Morten, Dec 15, 2013.

Thread Status:
Not open for further replies.
  1. Sive Morten

    Sive Morten Special Consultant to the FPA

    Joined:
    Aug 28, 2009
    Messages:
    9,813
    Likes Received:
    10,334
    4. You should not turn to trading due to despair that you have no money even for feeding yourself. In fact, trading is a toughest kind of business, and you do not know how much time and money you will need to succeed there. As with any type of business, trading demands time and assets for developing. Treat it as initial or start-up capital. You should not have any pressure on you from the point that if you will not make a profit today – you will have nothing to eat or pay for your bills. That’s forbidden. You should have freedom, both psychological and financial, to develop your trading skills and finally become a good trader.

    If you can hardly make ends meet on your salary, or are even unemployed, stuck in overdue credit cards and even have no money to pay for water, phone and cable TV, I do not want even talk about food – then it is better stay aside for awhile. Trading is not for you yet.

    5. You should stand on sure financial ground, have some “free” money that you may lose and it will not be crucial for you. So, as to be absolutely calm and ready for potential loss of some thousands dollars, and this loss should not lead you to suicide. In fact, you should have at least 5000$ (better 10K$) as a start-up capital.

    6. A very important problem is that many traders have phantom hope to make billions from a few hundred bucks as quickly as possible. But to conceive the art of trading you need patience and discipline, besides the other stuff that we’ve already talked about. The absence of these leads to deep disappointment and the loss of all of your money. How you can become successful, if you even can’t force yourself always come in time or regularly visit your grandma?
     
    #1 Sive Morten, Dec 15, 2013
    Lasted edited by : Feb 7, 2016
Thread Status:
Not open for further replies.

Share This Page