Do You Have What it Takes To Be A Trader?
If you have ever heard someone grunting, shouting profanities, and then the clang of objects dropping you might think you are at the gym with someone who is very angry at the weights. You also might be in the house of a day trader who just bet and lost big. Emotional control is the main skill when becoming a professional stock trader. When human nature always wants to win as much as it can it can be difficult to watch a decision you made turn into a loss.
I know people who make a good living trading stocks and who have done it successfully for years. I’ve seen people literally sit on a tropical beach, or in a mansion high up in the Hollywood Hills, armed with only a laptop and an internet connection, who can carve out a living from the market. And that of course it the allure of trading for a living, freedom.
You will lose more than you win when you become a trader but it’s all about getting small losses and taking those gigantic wins. To prepare you should paper trade (where you trade without money), have enough of cash cushion to endure the volatility of the market, study how to be a trader, and have nerves of steel. Being a trader isn’t for everyone but it could lead to the freedom we all desire.
Learn all the factors it takes to become a trader.
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About Shaun Archer Tatum Shaun works in corporate finance in New York City. He has done financial consulting for several start-ups and has worked at several Fortune 500 companies. He has contributed several finance/investing articles on Seeking Alpha which have been published on Yahoo! Finance.