5 Signs Trading is Not for You!
OK. You're here because you are trying to figure out whether stock and/or option trading is for you.
You've heard stories of people making it big in the stock market and you've heard stories of people losing everything. You're working hard to just live paycheck to paycheck and maybe you're sick and tired of being sick and tired. You are looking for the pot at the end of the rainbow and you WANT it bad. Maybe you're playing the lottery, betting on sports, entering Publisher's Clearing House or even trying to figure out the next huge thing on the Internet like 300 million other people. Sound familiar? Let me save you lots of time, because I'm pretty sure you are just like me. Time is one of my most precious commodities. I'm married to my best friend, have five kids, have a full-time job, I'm in the military reserves and I'm a professional trader. Think I have a lot of time to waste? Hint: I just gave you one sign why you should not think about trading!
So here goes. This might be harsh, but it's going to be the truth. I'm going to give you 5 signs right here and now why trading may NOT be for you. If any of these five things are you, or you think are you, STOP reading now and pursue your dreams elsewhere because if not, you are wasting your _ _ _ _!
As promised. 5 signs trading isn't for you…….
Sign #1. This is going to be a repetitive theme you are going to hear from me throughout this blog. Ready? Trading isn't for you BECAUSE YOU SAY IT ISN'T. You apparently don't understand that everything will be the way you say it's going to be! 'I don't have timeâ€ or 'you can't make money tradingâ€ are perfect examples of this. If you say you don't have enough time, YOU'RE RIGHT. If you say you can't, then you won't. So forget it. Don't trade. Great excuses, but as you just read, it's not going to work with me because YOU control what you say and you control what you can do. Told you this isn't going to be pretty! You see, a key to becoming a successful trader is that you must have a strong positive mental attitude. The things you say are the things that will be true! Hello? You are going to NEED this as bad as I need it. Tell yourself that trading is it and that nothing is going to get in your way. Yes, you are going to have trades go against you, but you gotta be strong. Learn from the experience, get smarter and crush the next one. If I can do this, so can you. Promise. It's mental calisthenics. You just need to surround yourself with those who can help you train your mind into 'shape' so you say the right things and do the right things.
Sign #2. Trading isn't for you because YOU DON'T BELIEVE (for whatever reason) that it's for you. Wait a minute. You are probably saying to yourself that 'saying' and 'believing' are the same thing. Well, they're not. Let me explain and give you an example. If you think that 'money is the root of all evilâ€, it WILL be for you. Every time you come up with a way to make money (valid or not), or go try something to make money, you'll fail. It's called self-destruction. Do you and your partner believe, 'We broke, but we happy, Baby?â€ Yeah, you're right. Nice excuse, but if you really believe this then you may as well stop reading now. Saying and believing are two different things. If you don't have a strong enough belief in something, I mean truly BELIEVE in it, then obstacles of everyday life will get in your way. Trading is for people who will do extraordinary things to get what they want. They will speak it. They truly believe it. Here's some breaking news: anything in life that is great is hard to accomplish. It's a law of nature. If anything great was easy there couldn't be a stock market! Here's all you need to know: If people are making money at trading, SO CAN YOU, but it's going to take you believing and needing this more than anything you ever NEEDED. Can you tell yet that 'want' isn't even in my vocabulary? It's pretty easy for me. I have a mortgage. I have lots of bills (and by the way, I live well below my means and have no credit card debt). I have five kids to put through school. I need to add to my retirement account for my wife and kids. I need to help children. I need to help the homeless and hungry. I need to make this world a better place. That's just me. Call me greedy, but I have a lot of 'needs' to accomplish before I meet my maker. Do you? And if you do, do you truly BELIEVE one day you will achieve them?
Sign #3. YOU DON'T HAVE DREAMS. When I was I kid I dreamed about owning a Corvette, a dog and a house that had a pool table. In 1987 I bought my first Corvette and today I own a house with a pool table and have my best buddy, Booster (my dog). Got my message here? Here you go. I know what you're thinking. Yes, dreams can be material things. The point is, if you can dream it…..You can achieve it. Financial Freedom is one of my dreams. My definition of financial freedom is having the money, but also the time to be able to do as we choose. Sure you may 'love' your job. And that's great. I'm very happy for you because you are probably one in a million, but let's not focus on that here. The point is our minds are an incredibly strong force, which can shape and mold our future. Put it to work for you and you can attain whatever you chose. But I warn you; dreams aren't fulfilled easily or overnight. They take focused hard work and determination. They take telling yourself over and over again that one day, I will……….. One big reason I trade is to make money. Money to me is nothing more than a tool. The more tools I have, the more things I can do with them. One of them is to fulfill my dreams. Adding up now?
Sign #4. YOU BELIEVE IT TAKES A LOT OF MONEY TO START TRADING. You're running out of excuses with me, guys! OK. You're dead broke and don't have any spare cash lying around to start trading with. Uhhhh, you drink coffee or soda? You eat out a lot? Here's the point. It's called SACRIFICE! It's called LIVING BELOW YOUR MEANS. Hey, I told you. You're probably not going to like the truth. Do you know I stopped drinking flavored bottle water at lunch just so I could pay an extra $25 a month towards my mortgage? You know why I did? Because I think the sacrifice is worth the thousands of dollars I am going to save in interest over the life of my mortgage. So if you don't have the money right now, this is what you do. Start learning to trade (yes, I know where you can do this for FREE). Start trading virtually (yes, some brokers let you do this for FREE). Start sacrificing a little and live below your means (a money maker). Plug into like-minded people who care about your welfare and you will be on your way to becoming a real life trader. *Special note for those with a short memory…….if you forgot the first three reasons why trading is not for you, go back to the beginning of this blog and start re-reading!
Sign #5. And the drum roll please…….. YOU LACK SELF-CONFIDENCE. If this is the case, fortunately I know something you don't. Here's the 'secret formula' that will be absolutely invaluable to you in becoming a successful trader. If you choose to follow it, it will give you all the confidence you'll need. Trust me on this. Me and hundreds of others I know have followed these steps to success. So here it is…..Go find a group of successful traders (a community of interest) who love life and are willing to selflessly help you and bring you along on the journey of life as a trader. Find those that are willing to befriend you, teach you, and show you how to get out of debt. Find those who believe in you and want nothing but the best for you. Go find some real life traders that are the type of people YOU want to be and have the life you want to live. And finally, and probably the hardest one for you to believe exists, go find those who want to help, just to help and not for money. I know what you're thinking again. I've been there. You're saying to yourself, 'Yeah right. Good luck. No such group of people out thereâ€. I'm telling you. They're out there…….. I know. Because I found them. Hint #2: Don't go ask your friend if it's possible to make money in the stock market. I can already tell you what they are going to say which will just add to your lack of self-confidence! The bottom-line: the best way to be successful at something is to surround yourself with those who have done what you want to do.
So there you have it (or don't). You read all the way to the end and now what? What are you going to do? Think you got what it takes to trade? Can you talk and think your way to success? Are you willing to sacrifice? Are you absolutely tired of being tired and NEED a way to achieve your dreams? Do you want a group of successful people to help you without strings attached? What you do or don't do next can change your life forever. Up to you, but I'd love to help.