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Chapter 29, Part II. Starting With Trading Plan Creation. Page 2

Discussion in 'Complete Trading Education- Forex Military School' started by Sive Morten, Dec 27, 2013.

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  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    For instance, if you just want to buy something – may be it is better to borrow the sum? This is much simpler because you will spend much more for education and initial losses when you will start trading. If you need thrill and adrenaline rush, probably it’s simpler try to parachute jump, go to Vegas or something. If you still want to bet on financial markets – that’s fine, almost any betting house now allows you to make stakes on Forex quotes. But still this will be much cheaper in terms of money and in terms of time. Think about it.

    That is a major question.

    The second part of this question is what is your particular goal for trading. This goal should be real and measurable. If you will say that I want to be as rich as Mr. W. Buffett or I want to live so that I can travel much and visit or live in any country that I want - those are not measurable targets. Your target should be specific. For instance:

    1. Reach a return rate of my trading business of 12% annually at first year;

    2. Study until I can execute my trading plan sharply;

    3. I want to earn 10% of my assets per month;

    4. I want to double my account by the end of the second year.

    Since trading is a business it has as expenses as well as revenues. If you come to the that you want to deal with this business, your major goal is to live off of it – you have to deal with it responsibility and with seriousness. As with any other business trading demands planning. You will see that the system itself is just the tip of the iceberg, its core, the source of revenues, but as for the rest – trading is the same as any other business – production or retail. The difference is just in specifically where the money comes from.
     
    #1 Sive Morten, Dec 27, 2013
    Lasted edited by : Oct 8, 2016
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