It all depends on the mindset that you have, just think that trading is right for you. If you’re fascinated by the markets, driven to learn more, spend your spare time reading about stocks and trading in the markets or systems and indicators, then trading is right for you. But what you’ve got to then do is take that passion and convert it to a process that will actually get you to your goals. I have a lot of people that come to me saying, “I’m a Forex trader. Does your system work on Forex?” He’s been trading for 2 years but still losing money, so I say “You’re trading with Forex, but you’re losing money. There’s no reason to be married to Forex as a trader. You just want to be a trader. What you need to do is learn and approach on a set of instruments that is profitable so you can start to achieve your goals.”
Trading is probably right for you if you’re on this blog or if you’re fascinated by the markets. Trading stocks, Forex, futures or options is a different question and there’s not a really right answer for that. But let me tell you, stock trading is probably the easiest. Options is really hard because you’ve got the added complexity of time, decay and expiry, very wide spreads, and much less liquidity than you’re doing in stocks. Forex is pretty hard because there’s a lot of correlation between pairs, you’re going to use a lot of leverage to benefit from the relatively small moves, there’s a huge amount of competition, lots of garbage in the market (frankly robots that just don’t work and expert advisors that are garbage),and brokers that are scammy and basically rip you off.
The stock market is very well regulated and established unlike the Wild West. It’s probably this easiest, most forgiving place to start so if you’re trading something and you’re not profitable, I encourage you to take the easy path. You need to learn about the systems and longer term systems then start in stocks and branch out to futures, Forex, options later once you’re profitable and consistent. You’ve got to learn the principles of profitable systematic trading and then those principles can be applied to other markets.
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