Trading is opted by many as a career. Some give their full work hours to trading, whereas others do this job as an extra money earning option. Everyone engages in the stock market at different levels. But if you consider becoming a trader, then you should know that this job consists zero glamour as people think. You have to invest a large amount of your time to the computer screens and read the stock market updates. This area needs a lot of concentration and perseverance, which will eventually make an experienced trader out of an ordinary fresher.
Pre Requisites of Trading:
Training: Before choosing your career as a trader, you need to prepare on various aspects of trading. This will make you properly trained and a clear idea on the path you are about to take. Just like any other mainstream career like engineering, medicine or professional in any field, you need training in trade beforehand. You can refer to any kinds of books on trading or attend online classes to get prepared in the beginning.
Experience: The next thing you need for trading is experience. After learning thousands of aspects of trading and attending a number of classes, you have to gain some experience by spending some time at the real stock market. You can do this by attending a number of workshops or interning for a company during a brief period of time.
To learn different techniques on how to succeed in trading you can try reading books, taking classes from companies like Certus Trading a trading education company lead by Matt Choi with a mission to help traders and investors achieve consistent profits.
Consistency: A good trader always aims to become a consistent trader. That is to say, you have to make your money through trading for every month during a year. Take some targets that you can fulfill within a month, and then try to fulfill that only. It is better to earn a little amount of money throughout 12 months than to earn a big chunk at the beginning and then earning nothing.
Practical Things to Consider:
It is always true that trading is an uncertain job field where you do not have a stipulated time for work or guaranteed paycheck every month. Even if you are good at it, it is bound to take a toll on your mental health and you will most likely spend less time with your family and loved ones. But it is fun on the other hand, and gives you possibility to earn as much as you can.
Before starting your career in trading, you must ensure that you have saved your expenses for 2 years. This list includes all the necessities like:
- Rent costs
- Bills of All kind
- Insurance Costs
These are some of the basic things you need to save before you venture out to become a trader. However, do not take immense pressure on yourself, as you do not have to prove something to the world. Take as much work as you can for a day, and try to complete your goal within the stipulated time.