Being a trader is easy. But if your goals are to know how to be a successful trader, it is not enough to want to speculate in the market, it is essential to follow some stages that help you do so.
What to do to be a trader?
In a trading course it is common for students to tell that they have a certain amount of money saved (which in bank accounts they cannot increase due to low interest rates) and they really do not know how to grow that capital.
The good news is that trading is a great step to increase our wealth, but only if we structure it and follow a financial project. Generating capital with money automatically is an art that can be learned, but it requires a strategic plan to use and without risking capital that you do not have.
In trading and investments in the stock market there are no magic formulas: training, being constant and respecting the times are the key.
Stages to become a top trader
Do you remember when you were a kid playing Monopoly? It sure took you a while to understand that only optimizing purchases -managing capital well-, acquiring houses and then renting them, would help you in the future to own properties and live comfortably.
In trading, time is also a factor to take into account: consider it as your most precious asset since it is by no means inexhaustible.
Stage 1: learn trading thanks to the courses
Financial education is essential to get to be a successful trader. And the trading courses teach: technical, economic and financial analysis, capital and emotion management (psychotrading) are skills that must be acquired and are not easy to learn by yourself.
Choose courses taught by experts in trading, which are the ones that thanks to their experience can guide you in the best way. Run away from those Forex or trading courses that promise you quick and millionaire profits in express time. The training must be lasting, have tutorials, updates, support.
And one more tip: always start trading demo accounts.
Stage 2: have an appropriate strategy
Consider a trading strategy as a working tool that will make money for you, which will facilitate your financial freedom. This plan will define the most appropriate method to achieve your objectives and that will happen when, after having trained for it, you calibrate the most convenient one.
If we talk about methods, we do it in reality of strategy tests: collecting data on entry and exit prices, the profit that would have been obtained in real while we continue to operate in demo. The trading systems, the methods already exist; in fact it is easy to find more than one on the internet. The crux is to start applying them and check the most effective ones: create your own strategy no more to be a successful trader.
A tip to keep in mind at this stage: perseverance, discipline and keep your feet on the ground.
Stage 3: go from demo to real trading
Once the two previous stages have been completed, we must assess whether our strategy is adequate. Compare the returns obtained – objectively – in your demo account in the last 4 or 6 months.
If everything went well, you can decide to trade in real. But first … you have to take into account the emotional part of a trader. Emotions and control over ourselves differ when we are trading demo to when we do it with our real capital. So when you make the jump, start with small sums of money and see if you experience ups and downs of mood or enter the FOMO phase. (include YouTube video link when uploaded to the platform)
Knowing in advance how your emotions can affect your way of trading is very advantageous and that is why in trading courses we include a part of the psychotrading training program.
The future of the trader
At the end of the 19th century, a theory emerged that can enlighten you or, at least, make you stop and think. This economic theory affirmed that if wealth were distributed equitably to all the inhabitants of the Earth, after a short time, it would return to the hands of those who had always owned it.
If you want to know how to earn money in the shortest possible time, think that we are not talking about luck, but about establishing a habit in our life, a way of understanding life and seeing the world differently, a habit that will lead us to invest our money well and time to become a first class trader.
In training we seek to transmit the knowledge of all of us who make up the BPT team.
A theory from the late nineteenth century says “distribute wealth equitably to all the inhabitants of the Earth and soon this wealth will return to those who have always owned.” I totally agree, I remember that getting rich is not a fortune, it is a habit, a way of living and seeing the world, to invest your money and your time.