LET’S talk about your interest in the financial markets.
We’ll start with the hardest truth of all: it’s difficult to turn
profits and earn a living through the trading game. After
all, no one but the mint is printing money, nor does it grow
on trees.
So here’s the bottom line for anyone wanting to trade
stocks, currencies, or futures. You’ll either earn your success
through hard work or lose your stake and move on.
Trading has a mathematical advantage over investing,
and good traders will make more money over less time than
good investors. But the devil is in the details. It’s the
trader’s job to capture volatile price swings that flatten out
over the holding period of a buy-and-hold investor. As a
result, they need to master the challenging skill of time
management.
Take this pursuit seriously, and find a strategy that
capitalizes on market movement. Indeed, your success or
failure depends on the path you choose. The most dangerous
road chases profits without an understanding of downside
risk. The safest course builds skills one step at a time
and acts defensively when things go wrong.
We’ll start with the hardest truth of all: it’s difficult to turn
profits and earn a living through the trading game. After
all, no one but the mint is printing money, nor does it grow
on trees.
So here’s the bottom line for anyone wanting to trade
stocks, currencies, or futures. You’ll either earn your success
through hard work or lose your stake and move on.
Trading has a mathematical advantage over investing,
and good traders will make more money over less time than
good investors. But the devil is in the details. It’s the
trader’s job to capture volatile price swings that flatten out
over the holding period of a buy-and-hold investor. As a
result, they need to master the challenging skill of time
management.
Take this pursuit seriously, and find a strategy that
capitalizes on market movement. Indeed, your success or
failure depends on the path you choose. The most dangerous
road chases profits without an understanding of downside
risk. The safest course builds skills one step at a time
and acts defensively when things go wrong.
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