New Trader Sin #1

"A lot of times, we are trapped by our own false sense of security. You can do whatever it is you put your mind to. Your goal is to find your purpose."

-- Kenneth Leon

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“Looked For Money Can’t Be Found”

One of the major sins new traders commit is expecting (needing) to make money (on their own) immediately. Rent money… a car payment… tuition… or just money to pay for a well-deserved, likely long overdue vacation, many new traders come to the market with a list of what they want the market to “give them.”

Whether because of financial pressures, because of a Vegas mentality, or because it’s supposed to be “easy,” most new traders genuinely expect to be profitable immediately...which is interesting because there is no other arena where they would expect to be proficient so quickly. To be able to profit easily and immediately...and legally.

It doesn’t work that way.

Read the full post here.