Why are beginners afraid to start trading? Generally, it’s because of the amount of capital they believe is required to trade, or they are afraid to lose. While these are legitimate concerns, they can be moderated and controlled.
1. ) Amount Of Capital Required To Trade:
Lets start with the first issue. There is a common misconception regarding the capital required to trade. Has someone ever told you, $25,000 is required to day trade? This couldn’t be further from the truth. I trade multiple times a week, with some trades being less than $500, each! I have several examples on my YouTube channel which demonstrate how to make a decent return without using a lot of money.
2.) Traders Are Afraid To Lose:
Being afraid to lose is a legitimate concern. However, this is not gambling. You are in control of the amount of money you lose. Whether you cut losses fast, or you let them grow, the outcome is in your hand. In addition, if you create some basic structure around your trades, your success should take care of itself. These fundamentals should include studying the materials, becoming confident in the materials, creating a plan & STICKING TO THE PLAN! Remember, this is YOUR PLAN! You can make it as complicated or as simple as you would like. However, in order to create such a plan, you need to know the materials. Including, understanding how the market moves on a daily basis.
Helping others understand the material is the exact reason I created the 6+ hour Video Based Educational Course! It is a beginner friendly educational course designed to help you become a more successful trader while appropriately managing your risk. This is not a get rich quick strategy. While the day trading returns may be exciting, it is solely based on plan execution.
When you appropriately manage your risk, the fear of losing becomes fewer and far between. All it takes is some structure.
As a beginner trader, being afraid is normal. However, make sure you study enough prior to placing your first trade.
Do you have what it takes?
See you in there,