Again and again we want to make it clear to beginners that trading is not easy. If that were the case, all traders would sit in the sun and sip cocktails. But trading is work - sometimes even more than another profession entails.
Because if you are honest, an employee job is associated with more freedom: you have your fixed working hours, fixed salary at the end of a month and almost no risk that is constantly hanging around your neck.
Of course, every other job is not safe, and you can always lose it. However, it is also the case that a permanent job is better rewarded by the state, that is, you receive better allowances and social security.
Therefore, trading on an independent basis is certainly an exciting field, but we hear again and again the wrong reasons for beginners why they would prefer to trade on their own. Most of the time it is said that you want to make a relaxed life.
Get up in the morning, make a few trades in front of the PC and ideally have some free time in the afternoon, since you have already earned a few hundred to thousand euros in the morning. It's best to say goodbye to these dreams. Dreaming has always been particularly widespread among traders.
For the same reason, so many traders are unsuccessful in what they do. The worst thing is if they destroy success in all other areas at the same time. Because by dreaming of big money, you also get a tunnel view for everything else that happens next to it. If the position is going well, they dream even more - if the position is bad, they are emotionally tied to the loss position and cannot concentrate on other things.
Stop dreaming and start working
The best tip you can give a beginner is: stop dreaming and start working. Nobody gives you anything, not even - or especially - in trading. Working therefore means dealing with the markets on a daily basis.
Tracking prices at all times is part of everyday life for a trader like breathing is a part of life. After a while, without looking at the prices, you need to know where the current price for the major markets is and how the prices will behave roughly when one or the other event occurs. You have to train expectations - and that is work.
Even technical traders cannot refuse to deal with fundamental facts, because they have to know when it becomes dangerous and when it does not. Successful technical traders are successful not only because of their strict system, but because they know when they are using the system; and for that they need more market knowledge.
Example of unexpected events
Traders who prepare for a relaxed life with trading will sooner or later notice that the unexpected is due to the Markets just happens too often. Then they either give up because they realize that their dreams are bursting, or they try to solve their deficits. The question is: how can you prepare for the unexpected? Let us look at the daily chart of the EUR / USD exchange rate and look at the dynamic development in the last week since the ECB press conference.
It can be clearly seen that the medium-term upward trend that lasts for a few weeks is completely over within two days has been revised to market participants. And it even looks like the longer-term slight upward trend will be broken. Was this reaction unexpected? For many, yes. If it were not, the reaction would not be as strong.
But if you deal with the markets every day, after a while you also get a feeling for the importance of information. And in this case, there was some information that indicated the ECB's decision. You just have to see or hear them and just rate them as important. But to be able to evaluate them correctly, it takes more than just getting up in the morning and making two trades during a coffee. This is just an example of what work in trading means.
THE TRUTH ABOUT BINARY OPTIONS
Conclusion - reverie has lost nothing in trading
Whether you want to trade full-time or just in the evening after work: do it realizing that trading has nothing to do with reverie. It is a good approach to come to terms with the fact that hard work can make you a little extra while also having fun.
But say goodbye to big money from your dream. This is simply not because you as a private trader i. d. R. don't have that much capital to manage it on a large scale. With the broker Anyoption you can not pursue dreams, but you may earn a lot. Start training now.