How to be a professional trader - Part 1

Isn't this the ultimate goal? Most likely, if you are reading this, the answer is a resounding YES! There are thousands of merchants who dream of waking up one day, having a cup of coffee in the morning and walking down the hall to their home office to begin their trading day. Moreover, ask if it is possible. I've been sitting at home myself, turning off my third business account and wondering, "Can I really do this?"

The answer by the way is "yes." But it all depends on how you deal with your negotiation. Do you have a plan for success? Do you have a plan? Have you laid the foundations both professionally and personally, technically and emotionally that will allow you to succeed?

With these thoughts in mind, I thought it would take some time over the next few weeks and go over some details on how to follow the process to become a professional trader. We are going to attack this issue in detail, addressing a different topic every week. This week we will talk about decision Profitable trader.

Decision time

As is the case with most of the things we decide to do, if you want to succeed (and I mean really successful), the first step is to commit. Decide to succeed. It sounds simple, but you would be surprised at the number of operators with whom I work who have not taken this simple step. So take a minute and mentally answer this simple question: "Do I want to be a professional trader"?

What was your answer? Was it "I would like to" or "that is the hope"? Or did you say, "Yes! Without a doubt. I don't care what it takes or how long or how much work I have to do. I am committed to success."

In my work with the operators, what I have noticed is that those who could not answer that question with confidence fell into one of two categories.

1. They had not really committed to succeed (because they did not believe in themselves or in the very idea that someone could succeed) or ...

2. They don't really want to be professional traders.

If after an examination of conscience and an honest reflection you discover that you really do not want to be a professional trader, great! You can stop reading and move on to something much more productive. For everyone else, read on.

If you are still reading, I want you to take out a piece of paper and write this simple statement:

I will be a professional trader.

That's. Simple is not. Keep it in your wallet, on your desk, wherever. Watch it every day. Say it loud. Why take this seemingly simple step? Three reasons

1. Because those who really write their goals are 10 times more likely to achieve them than those who do not.

2. Because you probably never did it before.

3. And three because that's what professionals do.

Keep this little nugget on the back of your brain. 90% of the operators that open a real account will close that account with less money than they started. You can find yourself part of 90% more than once on your way to ultimate success. Most operators will stop trying before reaching their goal. You will not do it.

The trade has what is known as a "low bar for entry." You do not need an education. You don't need skills, you don't need personality. All you need is enough money to open an account. (And the runners are making it easier and easier to do). Subsequently, there is a very high attrition rate. Most people start with great dreams, but they have no real idea of ​​what it takes to succeed. Over the next few weeks we will try to fix that.

Contrary to popular belief, trade is not easy. LEARN to take a long time to do it right. But don't get confused. Trade is a SKILL. You can TEACH and you can LEARN. So commit yourself right now. Decide to be a success. If you have not already done so, stop reading and WRITE! Tell your wife, husband, close friend, to anyone who is responsible for your new goal.

Now that you have made your commitment, let's talk strictly in terms of professionalism. You may not be a professional trader yet, but you CAN be a trade professional. This may seem semantic, but I assure you it is not.