Be an Owner Instead of a Trader
This weekend, Chez Melvin hosted several spirited discussions about the markets and investors' behavior. The focus was the age old debate about trading vs. investing. I declared that unless you had the time and attention to trade full time, along with a definable tradable edge, you would likely fail as a trader. The great, and even good, traders I know do it full-time. The live, breather and sleep markets and are studying and testing ideas constantly. The do not have a fixed set of rules or chart patterns they follow slavishly, but are always looking for what is creating an edge right now. It is not just their hobby or interest; it is their vocation and their passion. There are not that many of them.
Part-time market traders rarely succeed because too much can happen between the time you put on trades and that first coffee break later in the morning. A quick check of prices between clients is simply not enough to have and maintain an edge. You will not be able to develop the skills and knowledge needed to trade successfully between work, family and other commitments....500 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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