Hello Traders (or wannabe traders). That’s right, I said it. By the end of this post you will know which one you are. Clearly this post is not going to be about a specific trading skill, but rather how you should efficiently go about building your trading skill and more importantly WHY you should be doing it.
There is a lesson I’ve learned in life (sadly more times than I like to admit) and it’s that adage that you get what you pay for.
Back in the day I didn’t want to spend money on anything. I was positive I could figure everything out myself by working harder than everyone else. Yeah, well the saying “work smarter not harder” rings true as well.
As I learned how to trade in the beginning I studied chart upon chart on my own looking for the few patterns I knew and any new ones I could discover on my own. Meanwhile, back then I could just buy a book that had them all laid out for me….duh.
That’s taking it to a more extreme level, but I basically wasted so much time and effort on something that should have had 1/10th the learning curve had I invested in simple trading education.
What’s more is this example doesn’t even get into all the money I could have SAVED in bad trades had I just taken a complete trading course early in my career. I mean, there were so many simple things I lost money on that were so clear and obvious when pointed out to me in the course.
Items like the appropriate risk-reward for trades, where my stop loss levels should really be, when and how to scale out of profitable trades and the list goes on!
I think that’s one of the main reasons I am involved with trading education blogs and why I created a trading course. The thought of others making the completely unnecessary money losing mistakes I made in the beginning drives me kind of crazy to be honest.
Listen, I’m not saying you have to take the course I created (though it would rock if you did) but please take a course. Invest in your education. As long as whatever course you take covers the key elements of successful trading then please move forward with it, do yourself that service.
To see what my course entails use this link Active Trading Blueprint. It really is a complete guide for new traders to ensure they have a complete trading plan and strategy in order to avoid the mistakes I made as a beginner.
If you are just starting to trade or have been trading for less than a year, ask yourself – Am I a trader or a wannabe trader?
Remember, “Victory Loves Preparation”