subject: Are You Worth Trading Education – Investing in your Future [print this page] Are You Worth Trading Education Investing in your Future
So you want to become a day trader?
Although this article is focused on day trading education, the concept applies to any field. Consider your child coming to you and telling you that instead of going to college or university, he/she wants to learn on their own. What would be your reaction?
Of course the idea of skipping college or other higher education and successfully landing that job is unheard of. Aspiring doctors who skip medical school do not become doctors. Lawyers that fail the bar exam are unable to be lawyers. The analogies are the same across every industry, except when it comes to becoming a successful trader.
Education is the process of deliberately transmitting knowledge from one source to another. Society has recognized that except for a minute percentage of human beings, the best method of learning for us is through a teacher in organized form. Because for argument's sake, a person that's completed a lengthy medical program and obtained a degree is not equivalent to a person that just read a few books on biology. This is true with learning to day trade too, and more importantly we have more to lose!
What makes trading different than any other field? I have asked this question of many traders and what I've found is that traders are a unique breed. Traders in general want to beat the markets traded. It's almost as if the game they are playing called trading needs to be figured out. What typically occurs is the continual attempts at taming the markets with different methods, indicators, time segments and strategies? Unfortunately the outcome never changes, and is met with continual inconsistency. No it's not easy. It's not meant to be easy, and whoever told you that it was easy, lied. What drives a person to become a trader will be discussed on another day, but usually once a trader, always a trader. One thing that should not be over looked is the stakes at hand, your money!
I have met many hundreds of traders and the story is similar to how they arrive at the decision to become educated. It is an absolute evolution to becoming a successful trader.
If only they started out learning the correct way to achieve the knowledge necessary would they have saved time, money and aggravation. If this is you, you are not alone;
The life of a trader begins with the ambition to easy and quick rewards. After the common books are read about "moving averages" and "the trend is your friend till the end", a sense of confidence sets in and the trader is ready for battle. After a number of losses and more books reality sets in. The cycle cannot continue, and something needs to change. The reality is that educating oneself from the beginning of any career is worth every penny in order to achieve success. Every day trader desires to discover that new method that will help them stand out from the rest and make money. And every day traders fail and start the cycle again. It IS possible to get a good education if you use the right source and tools.
By education, we're not referring to just learning, since we are saturated with such resources and we know that most of what's available to learn as a day trader may not always lead to success. Instead, the highest form of education is one that is learned from a qualified educator.
The advantage of paying a professional for education is that he will teach you the things that you actually need to know. Rather than trying to filter through the 75% of fluff around the information that is relevant to you, you can get the no-nonsense, practical information from someone who has the experience and knowledge. You will learn things such as how to fail, how to cope with losses financially and emotionally. The best methods for money-management, most fit ways to trade with your personality and capital, and how to learn from your mistakes.
So following what's worked best in the centuries of time, find a qualified mentor to teach you how to trade and extract as much useful information that you can. Tools that you learn from a direct source are going to be the most practical and effective methods for trading. Paying for an education on learning to day trade will be worth it if it can prevent you from making mistakes, and will end up saving you money in the long run. Otherwise, your trading career will most likely keep you stuck in the cycle of disappointments and lack of expected results.
