The Best Time to Become a Trader

ituglobal

Master Trader
Apr 17, 2013
531
34
69
“Soon, though, I became aware that there was an even bigger game available to players like me. It was, in fact, the biggest game in town -- the international financial markets. So my interest shifted from playing cards to playing the markets.” - James Frazer


Someone in a West African country - a young man - had exhausted all means of getting a reliable livelihood, including hard manual labor. He resorted to commercial motorcycle riding. At least, he was able to get some money to feed his family.


One day, he’d a near fatal accident, and got confined to bed for weeks. I thought he’d never go back to commercial bike riding. I was wrong! Since he thought he’d no alternative, he went back to that job.


The young man went back to a job that nearly claimed his life because he’d no alternative; yet many quit trading because they lost negligible amount of money. People suffer ignominious defeat in other areas of their life and careers, and they don’t see any big deal in that. Nonetheless, they see a big deal in trading losses and they think there are better alternatives.


There are many people who tried to discourage me from trading when I started. These were people who were considered intelligent and successful in other fields, like religion, education, politics, etc.


For example, one respected religious man told me that he didn’t want to become a trader because he knew those who wanted to make heaven shouldn’t trade. What a totally wrong opinion about trading? That statement could discourage ignorant people from attaining their potential as traders. The man later sent me a personal email, asking me to remove him from my mailing list because he wasn’t a “businessman,” and he wasn’t interested in trading. I quickly removed him from my mailing list. He later blocked me on Facebook because he didn’t want to see some of my posts, which obviously related to trading.


I wasn’t deterred by his actions, for I knew his actions were also lined with envy. I knew he wasn’t the one to feed me or carry my responsibilities for me. He’d his own responsibilities and he’d even be glad if someone like me offered him some cash.


Years later, the same man was surprised that I’m still a trader, with a measure of success. I even sent him some money recently. He was grateful for the gift.


When Should You Become a Trader?

Now is the time for you to decide to become a trader. You chances of success are greater than you can imagine.


How can this be possible? I’ll reveal the secrets in my coming articles.


Most people come to trading as a last resort: When they’re completely down, when they’ve nothing to rely on and they’ve exhausted other possibilities. This is a wrong time to become a trader, since the financial pressure on you would make it impossible to trader with sane logic and rationality.


It’s better for you to become a trader when you’ve another sources of income. When you know that some initial challenges you encounter wouldn’t endanger your wellbeing (and perhaps, that of your family).


When you’re supported by your family, your life as a trader would become easier. Joe Ross, a trading veteran, once said his wife suggested that he write down what he knew about trading so that his children could learn in the event they ever wanted to take up trading. What he wrote at that time became his first book. Joe Ross clearly had support from his family. What a blessing!



Don’t Give Up Trying to Become a Successful Trader

Several years ago, when I encountered initial challenges in trading, I was tempted to give up. However, I was lucky to come across some things that encouraged me to keep on going. I knew I’d no better alternatives than trading. Now I’m happy to be a trader. I can only look forward to a brighter future.


Trading success is sweet, liberating and enriching. There are numerous known and unknown traders all over the world, who make decent profits on monthly and annual basis. They won’t exchange this wonderful privilege for anything! By not giving up trying to become a successful trader, you’ll soon experience the joy of financial freedom that comes with trading.


Conclusion: Many a good trader has survived the point at which chicken-hearted people quit, and has been rewarded. If we also imitate such determined traders, we’d survive whatever the hurdles we come across and we’ll enjoy rewards greater than what people think we can enjoy.


This article is ended with the quote below:



“Roald Amundsen says: Adventure is merely bad planning. I have talked about Amundsen before and focused in particular about how his success as an explorer was a function of his obsessive planning. What strikes me about people who are successful in very difficult fields is that they all share similar traits, attributes or philosophies. Much the same could be said about traders and trading/. If you are find trading an adventure or it is exciting/stressful then you are most likely doing it incorrectly.” – Chris Tate (Source: Tradinggame.com.au)

Copyright: Tallinex
 

radex78

Banned
Nov 15, 2015
676
17
54
46
How to survive in forex business also need high dedication because in fact many trader also leaving forex because they can't making income like as on their imagination at first time knows forex, but some trader because they love with forex and always keep learning and trained better skill eventually some of them already able making good income here
 

Hafizmd

Active Trader
Sep 22, 2016
77
5
29
43
Kuala Lumpur
I like the idea about challenges. Such periods happen in every trader's life. It's a hard period and price of success can seem too high, but the game 's worth a candle
 

sharabela

Master Trader
Oct 19, 2016
152
9
54
45
Ah! what a good post. It really is true. Traders must not rely on Forex income to meet their basic needs. That is when trading gets tough if they do rely on the Forex income. Rather they should actually take Forex trading as the second income source. Then, surely it will make their hand full, then they do not have to rely on any other sources of income.
 

wisetrada

Active Trader
Mar 4, 2014
53
5
39
There is no best time to become a forex trader by standard. It is even worse when you rush to the forex because you are broke and want to make some quick cash. Impatience will not to carefully learn your demo account well.
 

BagIt

Newbie
Jul 27, 2016
26
1
4
33
Most people come to trading as a last resort: When they’re completely down, when they’ve nothing to rely on and they’ve exhausted other possibilities. This is a wrong time to become a trader, since the financial pressure on you would make it impossible to trader with sane logic and rationality.


It’s better for you to become a trader when you’ve another sources of income. When you know that some initial challenges you encounter wouldn’t endanger your wellbeing (and perhaps, that of your family).

Couldnt have agreed less!, The very moment you decide to solely rely on forex ,you must have some reserves to depend on financially when the things go bad with trading .
 

Ally

Newbie
Sep 13, 2016
23
0
2
31
There are some very important factors to be considered to define the best time to trade in the market.

1. You do not have to trade everyday. The best thing is not to trade. Trade only during high volatility, heavy selling or buying in the markets which works in your favour.
2. Make sure you make your biggest moves in the first half or one hour of the trading day and the last half or one hour. It is important to note that you go with the flow of the movements in the initial trading hour of the trading session. You need to understand that there are a lot of premarket orders that take their place. So, Its better to follow the wave.
3. Some consider first half of the trading session very volatile that they do not place any trades, However, if you are trading with the market trends, resistance and support levels, you are a day trader. Those are the times you need to trade on.
 

Ary Barroso

Active Trader
Jul 9, 2017
908
71
39
36
Till now the opportunities are open; just need to grab that opportunity by the new traders! It’s very easy to stat Forex trading; but it’s too hard to exist here for a long time, that’s the reality.