I’m sure some of you out there already have the skills necessary to trade for ff15 rare coin farming on the most popular trading platforms. But if you’re like me and someone who is new to trading or lacks confidence in their abilities, feeling confident can be challenging. If this sounds like a familiar struggle, then this article isn’t for you. You have nothing to worry about and everything’s going to be just fine.
1. Trading Is Not A Perfect Science
I remember the first time I attempted to trade, my account balance never made it past zero. It was a painful learning experience that cost me $1,000. It took me a few months to recoup those losses and I also spent an additional $3,000 before I started to become successful at trading. It took me over two years of blood, sweat, and tears before I could finally call myself a consistent winner. Sure, there are those out there who are able to hit the ground running in Day One of their trading career but the fact is that most people have a slower learning curve.
2. Maybe You’re Not In The Right Place For Trading
Being good at something doesn’t mean you’ll be good at it in the future. It’s possible that trading isn’t the right thing for you. Keep in mind that some people are genetically more predisposed to certain fields of study than others and/or prefer a more sedentary lifestyle. If that’s the case, you may be better suited for an occupation that doesn’t require intense amounts of physical activity such as medical doctor, engineer, veterinarian and so on.
3. Trading Isn’t Everything
You have your life outside of trading too and things might still be going well for you there. If you’re in a committed relationship and have a job that’s paying the bills, you don’t need to be trading for survival. Do trading because you want to, not because you feel like you have to.
4. You Could Be In The Wrong Place For Your Trading
There are free platforms out there that can get your feet wet while learning the necessary skills to trade on real money. It’s also been said that some people feel more comfortable in a live chat room environment than they do with an automated platform. Are you doing everything possible to optimize your learning experience?
5. There Are No Magic Tricks
There are no silver bullets. Just like in any field of study, you’re going to have to put in the necessary work. A good analogy would be a college student who graduates with honors, but through a lot of hard work and determination. The same is true for trading, it takes time and commitment to see positive results.
6. Don’t Judge Yourself So Harshly
Are you an all or nothing type of person? If so, you’ll probably have a difficult time making trading a success in your life as well as others who look up to you. It’s also possible that you’re too hard on yourself. After all, you can’t be faulted for a lack of “grit” when it comes to learning new skills.
7. Trading Is Just One Element Of Your Life
You wouldn’t only become a doctor because you want to practice medicine. Likewise, trading is just one part of the financial picture and shouldn’t be the determining factor in your success or failure as an investor or trader.
8. Leverage Is A Tool You’ll Have To Use
Leverage isn’t always the answer. It’s possible that the wrong type of leverage could wind up being a major liability for you down the road. I’m not a financial advisor, nor am I an expert in this field, so if you’re struggling with financial decision making, don’t be afraid to seek professional advice.
9. Don’t Pick Winners Who Are Outperforming The Market
Picking winners is just as much a gamble as picking losers. You’re going to have to put in work to learn your trading platform and/or find suitable trading opportunities. The “right” opportunities will vary from person to person. For example, you may have a stronger penchant for long term gains and there might be no time for daytrading when you’re trying to save for retirement.
10. Your Personal Style Will Vary From One Trader To The Next
Some traders like selling on the way up and few people will be good at both selling and buying. Some are better at finding support levels after the market has fallen. Some are more risk-averse while others love taking big risks with their capital. Some people are better at playing the long game while others prefer to scalp for a living. Don’t let your personal preferences stand in the way of steady gains if that’s not your style.
The 10 points outlined above are just some of the reasons why you might be struggling. Is there a silver bullet that will guarantee your success? If you’re looking for one, chances are that you’ll never find it. In my experience, consistent trading success takes time and effort to achieve. If you think trading is right for you and so far, it’s not going well, reevaluate your situation and make a few adjustments. If these strategies fail to yield positive results, then maybe trading isn’t the right thing for you. In any case, don’t give up because there’s always hope.