Stocks & Commodities V. 26:12 (98-97): At The Close by Don Bright
Product Description
At The Close by Don Bright
Transitioning To Trading For A Living
Every month I interview dozens of potential new traders, and the question of transitioning from the safety of a paycheck to successful trading comes up often. In my opinion, there’s no need to leave job security behind. Let’s discuss a few scenarios.
THE BUSINESS OF TRADING
One of the first things to take into consideration is to realize that trading is, indeed, a business, and must be treated as such. With this in mind, let’s cover some business basics. One of the primary reasons for not succeeding in any business is lack of capital. I’m speaking of capital to properly run the business, not living expenses, which we’ll get to later. Many books and seminars and TV ads attempt to convince the public that money can be made with their products with only a $25,000 retail brokerage account. This is extremely difficult. Can you and should you invest your own money with a retail account? Sure you should! Do your homework and trust yourself, not a stockbroker, to make investing decisions for you. But investing is not trading for a living.
Transitioning To Trading For A Living
Every month I interview dozens of potential new traders, and the question of transitioning from the safety of a paycheck to successful trading comes up often. In my opinion, there’s no need to leave job security behind. Let’s discuss a few scenarios.
THE BUSINESS OF TRADING
One of the first things to take into consideration is to realize that trading is, indeed, a business, and must be treated as such. With this in mind, let’s cover some business basics. One of the primary reasons for not succeeding in any business is lack of capital. I’m speaking of capital to properly run the business, not living expenses, which we’ll get to later. Many books and seminars and TV ads attempt to convince the public that money can be made with their products with only a $25,000 retail brokerage account. This is extremely difficult. Can you and should you invest your own money with a retail account? Sure you should! Do your homework and trust yourself, not a stockbroker, to make investing decisions for you. But investing is not trading for a living.
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