Three Steps to Become A PROFESSIONAL TRADER 👨💻👩💻
Updated: Feb 3, 2022
The road to consistently profitable trading is hard and dangerous. This path can be split into three main milestones. Each of those requires discipline, time & patience.
📚The first step is your trading education.
Starting with a basic understanding of what are the financial markets & how they work and finishing with the sophisticated techniques of risk management, so many things must be learned.
In the beginning you will be most likely paralyzed by the complexity of the whole system. Even the choice of a trading education provider is not that simple taking into consideration the sheer amount number sources that could be found on the internet.
It is highly advisable for you to accompany your trading education with demo account trading so that you could apply what you’ve learned in practice.
💸It is imperative to invest in your education, while simultaneously saving up for your first(but not last) real trading account.
Spending your money on education & then saving in order to build your first trading account, a sufficient amount of money is required.
Be prepared for failures. Be prepared to blow your first and second trading account & fund it again. Be prepared that the majority of premium educational sources won't meet your expectations.
I don't know any trader who succeeded in trading without investing a huge amount of money in that.
👨💻With the money being invested & with the knowledge gained, you must practice on a real account.
You must choose the trading strategy that is appealing to you and start trading with that.
Quite soon you will realize that theoretical knowledge has nothing in common with real market conditions.
You will change trading strategies one after another until you finally find the one that truly makes sense to you.
Then you will spend a couple of years playing with that, learning the rules & constantly polishing your trading plan.
🏁At some moment you will stop losing. At some moment your trading account will start growing steadily and you will become a consistently profitable trader.
As the market conditions change constantly. You must be vigilant & learn to survive in a changing environment. Education, active investing & practice are required from you to keep being afloat.
I hope that this article will help you to build realistic expectations concerning trading.
If you are ready to learn a lot, invest money & practice many years not making a dime, then one day you will definitely make it.
Do you agree with my thoughts?