Mistakes Easily Avoided

You are ready. You have done your homework. You have read the all right trading books, watched all the right professional trading videos and attended a few of the right live seminars presented by big-name professional traders. You have researched your brokers, did your trials of various electronic trading platforms, and have your trading account ready to go.

Its day one of your new career; hopefully the one that will finally send you down the road to financial freedom.

Congratulations, you are now an Online Trader.

But the odds are against you. You know that. You have read the statistics and heard the critics; but you are confident you won’t be the one to fail. You have the best trading system and you have planned for every contingency you can think of. Your charts, analysis and research are up-to-the-minute and instantly ready for every market you are going to trade. It’s go time. You take a deep breath and click the mouse…your first trade is LIVE; you’re in the game.

Fast forward six months. Your account balance is lower than when you started.  Sure, you had some great trades and looking back, your analysis of most of the markets you traded was correct; but where is the profit you could have had? How did this happen? How do you get back on track?

I’ll tell you how it happened, because it happened to me; more than once. It happened because the real world of trading and the textbook world of trading are two completely different things.

You need to be ready for that reality or you run a very big risk of being the one who makes part of the statistics.