How Long It Takes To Become A Successful Trader

There is an age old question amongst traders. That question is based around greed and a wanting to make serious money on the stock market fast. Although being wealthy is a good thing, and a god given right, too many times are people wanting to learn how to trade the stock market profitably, without learning the ropes first. The question really is �how long is it going to take before you become a successful trader’?

This is a serious question. But when you start out day trading, or swing trading you probably need to give yourself a time frame and goals otherwise, if you don’t get rich in 2 weeks, you are most likely to quit the game for good.

One must face the full reality that to become a successful trader, you first need to put the time and effort into learning, and get yourself a mentor. Or someone who is already at a level you wish to obtain yourself. You also have to learn how to be consistent no matter if the market is quiet or volatile.

Men make good traders. But here is a very important statistic if you are female. Research and study conducted have proven that women actually make better traders than men. Of the study done, 3 out of every 10 males make good traders. But 4 out of 10 females were more successful in pulling a full time income from short term trading. They did also prove that women make better traders than men, due to the obvious fact that they will listen to advice, and they do not let their ego get in the way of learning.

Studies have also proven that a trader must put in 6 to 12 months before they develop a daily plan, and consistent profit each month. Once you reach that point, you will feel much more confident, and are more likely to see continued success each month.

Sometimes there will be days, when you will not be able to make a trade. But there is no wasted time, because there is so much skill, and experience one can gather from spending hours, just sitting and watching the markets trade. And when you are not actually practising your trading, this down time can be used to master your mental game, and the psychology of trading. Because in the end, you are not really trading against other investors, in a way the only person you are competing with is yourself. If you are right, that is a move in the right direction, and winners are going to come. But what sets a good trader apart from the rest is that sometimes you will mess up and get it wrong, but how long you stay wrong, and when you cut your losses. Some of the best master traders in the world and good at cutting their losses short, and letting the profits run

Tips For Trading Part Time

Learn Swing Trading.

Swing trading is a great way to profit fast, without having to be tied to your computer all day long. As a swing trader your goal would be to hold stocks from a few hours to a few weeks, depending on what sort of trading plan you have, and also the market conditions at the time, will also play a factor. While there are many different trading strategies, you will need to seek to capture the stocks sweet spot or the majority of the trend to profit. No one on the stock market, or even a mathematical genius can buy at the exact bottom and sell at the exact top. What astute investors do is try to capture the middle part of the move and profit from this. It also means you do not have to watch the ticker around the close. It’s a nice easy free flowing way to make huge profits as a part time trader.

Develop A Core Strategy.

Even a successful Olympian will need to have a specialized move or training practice, and the same goes for being a trader. Successful traders will always rely on a bread and butter strategy to maximize their profit potential each month. This could include a special mix of strategies of breakouts, pull backs, trend channels, and post earnings events. If you can master these, you can make off like a bandit.

Once you get to know how to use these, and look for them, things become automatic and your monthly profits start to increase. Which means you can invest more money and potentially earn more at the same time.

Have A Good Watch List.

Having a good watch list as a trader is something you should build on daily or monthly time frame. It is said in trading, when you build a solid foundation for what you watch � profits will come much more easily. Let’s say you have a list of 20 stocks you are watching each day, and you keep your eye closely on what is happening, you can focus down and notice rally’s or sharp declines at the start of the month. Once you have a clear set watchlist and take notes and study individual stocks, that would be much easier than just lumping $10,000 on a penny stock blindfolded and cross your fingers, hoping for the best. Normally the best traders know and understand individual stocks even down to how they trade at the start or end of the day.

Have Stop Losses Just In Case.

Every good trader knows that no matter how good you are, or how good you think you are as a trader. At some point you are going to get a trade wrong. It’s the nature of the beast for which you are going to have to accept and just roll with.

Accept that things can go pear shaped, and if that does happen you need to have a strategic plan in place so that you can keep your money or keep losses to a minimum. It’s said that what sets apart traders is the human psychology, meaning it’s always easy to admit you are wrong, but if you are wrong and losing significant amounts of money how long do you stay wrong before you get out of the trade. Normally the longer you stay the more you lose. So it’s always opportune to have stop losses in place, and always know where you want in, and out of a trade, before you execute the trade in the first place.

There are some very bad horror stories with many traders. Everyone has one, but it usually comes down to self-defeat and when a trade goes against you, not getting out thinking the trade will just come back after you are wrong, only to see the trade get even worse and losses end up to be horrific. Remember Self-preservation is the key with trading. If you are wrong, admit it, let the stop losses hit and move on to the next trade. Traders with this attitude do take losses, but over the long run always win and end up on top.

Use Stop Losses To Keep Losses Small

The other portfolio manager, the “greater light,” was Elaine Garzarelli. She said that it was no longer a viable strategy to simply buy and hold any stock. Every stock has to be monitored, and is an eligible sell candidate if it “misbehaves” (begins to “break down”). The last market crash should be sufficient evidence of the shortcomings of the former strategy and of the correctness of Garzarelli’s position. In the crash, we saw perfectly good companies decline in value 60% and more. We have also seen volatility soar to unprecedented levels. Under the circumstances, what justification is there for going forward with the attitude that most positions should be held for several years? Typically stocks do not go up non-stop for several years. Over that period of time most stocks will have several serious corrections in which a large portion of previous gains will evaporate.

It makes much better sense to lock in gains when you have them if a stock becomes unusually weak and switch to something else rather than to become a stock market yo-yo (the new “sell on weakness” school of thought). Also, since no one can be sure how far a stock will drop once it begins a decline, the well-considered positioning of protective stop-losses is in order. If the stop-loss is ratcheted up as the stock rises, an increasing amount of the gains will be “locked in” should the stock decline.

The author once spent more than eight hours a day for three years testing tens of thousands of computer-driven investment strategies. The goal was to develop systems that worked well regardless of the state of the market or the general direction of the stock. The systems also had to outperform a “buy and hold” strategy by a wide enough margin to justify their use. The goal was to find strategies that could outperform a “buy and hold” approach by at least 20% a year. Thousands of tests were performed on each of thousands of stocks over a wide variety of market environments covering a period of many years to get a good profile of each strategy.

The more successful of these automated systems had something in common. Each had many losing trades, sometimes far more losing trades than winning trades. This was a surprise. Many gains were expected, not many losses. Their trading patterns over many years revealed several other interesting characteristics. First of all, the systems with the best results were “Nervous Nellies.” That is, they sold at the slightest provocation (usually a downward motion of the stock that satisfied certain pre-established criteria). The fact that there is so much “noise” or non-significant motion in stock behavior is what generated a large number of the small losses. Yet, some of these same systems could generate large annual gains in a severely declining market.

Trading Strategy That Consistently Beats All Major Indexes

Do You Hate Research? . . I do!

I have always wanted to find an investment strategy that made sense. An investment strategy in which I do not need to know the intricacies of the market, predict market trends or follow specific stocks. How can I get the inside information of what is hot before the rest of the market knows? I can’t. Nor do I need to.

Plus, I don’t have that kind of time to commit to in-depth research. Like you, I have a regular job that I need to devote my time to. I am not a day trader; nor do I want to spend all of my free time on the computer doing research. Always following the stock market and getting stock quotes is not how I want to spend my free time.

I Avoid Individual Stocks . . . they are too unreliable!

Everybody wants to buy low and sell high. While millions of people do make money this way (and many millions loose money), I have found an easier and more effective way to use the market to my advantage. I do not trade in stocks. I do what I can to avoid individual stocks. And I consistently beat the market . . . month after month after month.

If not stocks, what’s the alternative?

Like many people, I got heavily involved in the stock market in the mid to late Nineties. Tech stocks were going through the roof and I, like everybody else, wanted a part of the action. It seemed an easy way to make money. Everybody was getting rich. You did not need a special investment strategy to beat the market.

During this time, I engrossed myself in the financial markets. I wanted to learn as much as I could without giving up my day job. I was trying to find the next best tech stock, IPOs and the occasional pre-IPO offering. But it was not until I discovered options trading that I discovered an investment strategy (The Yager Trading Strategy) that can work in any kind of market . . . Bull, Bear or stagnant.

That’s right…OPTION trading!

And I am not talking about stock options or writing covered calls. Options trading…I started selling options on S&P futures, using different methods and trading strategies. And I did well. VERY well.

Between July 1998 and January 2000 (a span of 18 months), from my option trading system, I turned an initial $25,000 investment into $167,615. That’s over 670% increase. And this was not paper money where you buy a stock and it has a certain listed value. This was real, taxed income. Profits collected on a monthly basis.

Market fluctuations and volatility have diminished greatly since then…reducing the premiums. Those types of returns are no longer available, but the options trading strategy is still very sound. I still consistently beat the market. Even the years the DJIA, Nasdaq, and S&P were all down, I posted more than a 22% gain.

Learn the options trading strategy or see how to make money with this strategy. I describe the strategy and show actual recent trades on YagerInvesting. The information is FREE. No subscription required. This is a method for risk capital only.

essential for traders to hire brokers

Forex is the largest market for traders willing to achieve success in market. Trade volume worth over 3 trillions of dollars are exchanged between traders in the world. Aspirants and seasoned traders compete in the market to achieve success in marketing. Traders need to learn about procedures of trading to achieve success and increase profits. But, Forex market is a complex system of trading that get influenced by different economies of the world. It is essential to get expertise in trading with analysis of market value and conditions. Several strategies are essential for traders to surpassed competition from others and emerge victories with more profits. But, it is possible to achieve to achieve success in trading with right procedures taking from experts. This is why help of brokers and other experts need to be taken by traders to achieve success. Let us look at special procedures to trade and achieve higher profits in forex.
Forex has attracted traders from different regions of the world now. It has emerged the largest online trading platform with numerous options to trade. But, it is never easy for traders to achieve success in market due to competition from other traders. Many times traders can’t cope with competition and make strategies that stand out in market. This is why aspirant traders need to learn about trading principles and achieve success in platform quickly. Investment need to be made according analysis of market conditions and risks involved in it. This is why success in online forex trading is possible with the help of experts. It is really essential for traders to analyze market condition before investment in platform. Expert trader’s guidance and advise would be useful in achieving higher profits and avoid loss. Success in forex trading doesn’t depend upon luck but strategies of the traders.
Monitoring of market condition is really essential for traders to achieve success in Forex market. Indicators of trading depends upon fluctuations of different economies around the globe. It is essential for traders to monitor fluctuations of economies to achieve success in trading. Practically, it is impossible to monitor ever-changing market of different economies. This is why automated software are deployed by companies to monitor changes and provide information to traders. Forex trading advisors are really helpful in achieving success in trading immediately. Advisors need to smart and accurate not affected due to high end fluctuations in the market. Reliable advisors are really useful for traders to achieve success in forex trading quickly. Advisors should have smart technology with constant support to adapt with market changes.