So You Want To Be A Day Trader. Your Brain Wants You To Fail And Lose Money!

http://thirdrealminstitute.blogspot.com/ Trading is not something that requires luck

. Either you know what you are doing or you don't. 90% of traders lose money. Thanks in advance if you fall into that category. If you aren't CONSISTENTLY profitable on a daily basis you need to ask yourself why. You won't learn to trade reading a book or playing with your charts looking for that magic indicator. You can give a person a fish in a trading room or you can teach that person to fish with confidence for themselves. The choice is yours.

It takes at least 5 years of tossing darts before a few actually land in the profitable zone often enough to make a living. You don't learn to trade profitably on a consistent level by reading books and watching DVDs. You end up paying $60 for a DVD and $600 implementing that magic whatever. Paper trading does nothing more than create bad habits that will take years to deprogram. After you have wasted your nest-egg and throw your hands up in despair, should you decide to continue on your path, you will find someone profitable whose brain you will pick. It usually takes about 5 years to figure that out. Just a summary from my own experience combined with the thoughts of many others. If you are the exception to the case, well, God Bless.

I am a futures day trader. I trade the TF for 60 minutes every morning at the open only, averaging 5-6 points most days trading 10 contracts. That's $5000-$6000 each and every day. If you don't have a mentor you will never reach this level of proficiency, trust me I have tried doing it on the cheap. I have been trading 8 years with only the last 2 being consistently profitable. That's 6 years of throwing my money away, and wasting precious time in my life.

Being mentally and physiologically prepared is the key ingredient. Learning to trade successfully one must be able to override and control the brains instinctive desire for failure. Subconsciously you are destined to lose money. Once you have a handle on the cause and effect, the rest is simple. Learning to interpret the markets next move is the easy part. The market is manipulated and consists of people, and people are predictable. They trade the same way day after day after day. Once you understand the markets repetitive trading patterns you will have the ability to trade with precognitive accuracy. Like having your own crystal ball. See the pivots approaching with ample time to get on board. Never get whipsawed again because you know it's coming. You know whether it's a long run or only a couple of points. Fibonacci's are a extremely reliable also, if you can read them properly.

Time and money are a precious resource. So do yourself a financial favor and look into the prospects of getting a professional trading education. You will be money ahead in the long run. Time and money are a precious resource. Stop wasting both and get a decent education to put you on the fast track.

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Russell Wizard

http://thirdrealminstitute.blogspot.com/

Article Source: http://EzineArticles.com/?expert=Russell_Wizard

by: Russell Wizard

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