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 As
you begin putting the puzzle of your
trading strategy together,
are you frustrated by what is
missing? Here is what often happens
when you are trying to get started
trading or even when you've been at
it for a while trying to find your
system:
- You
set yourself up with a broker,
you don't know if it's the right
one, you hope it is), but...how
can you tell, what should you
look for? Is there that big of a
difference?
- No one
tells you the truth about
trading, is there a truth? You
read tons of books, you visit
every website, get as much
information as you can... maybe
you even join some internet chat
rooms, to get some tips and
"inside" advice. "Are any of
these people actually doing what
they tell me to do?" you ask,
"Are they making money?"
-
You hear
and listen to so called "stock
market gurus" spout off endless
theories and secrets of what
works and what doesn't." Who are
these people?"...you wonder "Is
there really any
secrets?"..."are they actually
consistent profitable traders?"
- You
see that there is so many
different software programs out
there...you're confused, "which
one is the best? Which one do I
need? Do I need this at all?"
-
Indicators, technical analysis,"
Do I need to know all of them,
do I have to be an expert at
this? Or, maybe some of them are
useless, which ones are useless?
Which ones do I need?"
- How
about money management..."how
important is it? How much do I
risk on each trade? Are some of
these extremely aggressive
trading styles that preach big
profits on trades sensible? Will
they keep me in the market long?
What's their money management
strategy? Is it strong? They say
I don't need much money to trade
their style. They make big
profits, but how consistently?
Are they only saying this to me
because I don't have much
money?"
- You
are beginning to notice that
many of these
strategies
are impractical and almost
impossible for ordinary people
to implement.
- Worse
still, now you've noticed that
many of these theories and
individuals totally conflict or
contradict each other." Every
one has their own style," they
say" you have to find your own
style, one is not really any
better than another."
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