Trading can be really complicated, but once you identify your target strategy and gain experience, you'll notice how much confidence you begin to develop. Trading foreign currency is easy, trading it well enough to be successful and profitable is challenging. Here are some steps to share with you so trading comes as naturally as possible.
Investing skills are developed over time like learning to play the piano. You wouldn’t expect to play a concerto the day you first sit down at the piano, so why do people expect a great performance when they place their first investment? It’s interesting to me that people put more time into learning an instrument than they do in learning to manage their assets more effectively. The probability of positive returns is so small in music, yet we commit so much time. Contrastingly, the probability of a positive return is so great in the financial markets, yet we commit so little time. It’s an anomaly. Let me, Shawn Lucas, suggest three things you can do to improve your investing skills:
Yes! There are so many variables to investing; often it is difficult for the average investor to know where to begin. To make it easier for investors to understand their personal investing type, Apiary Fund launched its Investor Profile.
One thing I’ve struggled with is indecision. While it is good to want to the best decision, sometimes indecision has the ability to freeze us – which is not so good while trading. Feeling stuck between two choices while trading can lead to lost opportunity and money. My father recognized my reluctance to make choices when I was still pretty young and has tried to help me recognize the value in making correct choices quickly.
Over the next couple of days, we’ll be sharing some quotes by one of the wisest creatures of all-time: Master Yoda.
It is an exciting feeling when you start trading. A lot of traders are filled with an internal desire to find some secret, big or small, that will give them the perfect edge in the markets, allowing them to fulfill their fiscal dreams. It is easy to get too focused on this quest of becoming the perfect trader; which is why caution is needed. The drive for perfection can create a disconnect between a trader and the markets, resulting in fear, frustration, and possibly even financial difficulties in their trading journey.
Let’s face it—when it comes to investing, everybody has something to say. But whatever you do, don’t fall prey to bad investing advice! There are lots of reasons to never take market tips from others, but I’ve found the following five to be imperative to my success as a trader:
Working towards a hefty goal becomes a lot easier once you see real examples of people who have attained a similar one. I'm excited to present a great example to you today! Jim Davis recently stepped into the first funded level of Beeline to Funding and I had the pleasure of hearing his story--his struggles, triumphs, strategy, and more.