My Story Learning to Trade
I am slowly but surely becoming a (highly educated) stock trader. It's been a crazy-fun ride, so far.
As I transition from an accomplished fighter/wrestler to become a more savvy businessman, I have learned several important lessons. One of these lessons have become a driving force in my life today-- DIVERSIFY INCOME STREAMS. The more income streams I have, the better the chances of maintaining and growing the money that I have previously made.
My trading mentor told me to view every dollar like it is an employee to work for me. My employees need to be MAKING me money, not losing me money. The question is, where is the best place to put my employees to work?
Initially, I was skeptical that I could learn to trade stocks with any real success. However, I now know that trading is the best business model that anyone could ask for. For example: 1) I do not have any real overhead (expenses), 2) I do not need to hire staff, and 3) I can trade whenever and wherever I want. All I need is internet access and I can make money trading.
One of the most shocking things I am learning is that I can make money when the stocks go up AND ALSO make money when the stocks GO DOWN! This really surprised me. No other business can make you money when the economy does well and poorly. Learning that I can make money regardless of direction is really cool. It was very hard for me to name ANY other business model that could trump, or even equals, what trading can offer me.
However, my training is telling me not to let emotions (fear and greed) take root in my trading. I am being taught that all trading decisions are calculated and mechanical decisions. Unlike gambling (hoping to win), trading is all about stacking the odds in your favor to guarantee that you get more winning trades vs. losing trades. It's like being the (casino) house and enjoying their odds over gamblers and their (bad) odds. Having the knowledge to increase your odds transitions you from a gambler to become the house, simply because you now have the odds heavily in your favor! It's about the right education.
Who's training me?
Grok Trade (click here). They are good--real good. I didn't know ANYTHING about stock trading before I began this journey. Now, I can trade stocks and carry on an intelligent conversation about my stock trading.
Can Others Do This?
Yes, only if you're not afraid to learn and willing to work at this new skill. If you want to learn along with me, here are some helpful tips:
If trading is in your future as a way to diversify income streams,let me know. Maybe we can learn together.
PS. Do NOT try to trade stocks or anything else until you are properly educated. You wouldn't try to fly a plane without the right education, so do not risk your money by trading without the right education. It's the same concept.