Do you need to have social/networking skills to be successful in trading?
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03-12-2014, 06:57 PM
Post: #3
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It has nothing to do with any of that high school crap of how many friends you have or whether you have buck teeth. It all depends on your ability, aptitudes and attitude. Google "success principles." It's the same with trading but with a hitch. There is a psychological aspect that no newbie can see in the beginning. It's the reason 80% of all new traders fail in the first year. "Intelligent" people tend to ignore this aspect of trading because they are used to being in control, and fail just like normal humans in disregard of it. Doctors and lawyers make some of the worst traders, for this reason.
It is a horribly difficult vocation that is almost impossible without the structure and help of an organized trading environment. It takes years to sort out what works for you, which time frame, risk level and methods are best for you. There are plenty of good trading methods and strategies to employ, but best to learn investing first. Five Minute Investing: How To Evaluate A Trading Strategy http://www.investopedia.com/university/f...inute6.asp You ask, "You are making strict deals on the market and it doesn't matter who is on the other side right?" You will never know who is on the other side of your trades. There is no way to know who is on any side of any trade. That information is private. Since you can't "know" anything about all other market participants, you can't possibly "know" anything at all about future price, and neither can any "expert." That would require us to be psychic. |
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Do you need to have social/networking skills to be successful in trading? - BadBoyNiceGuy - 03-12-2014, 06:32 PM
[] - ForexBandit - 03-12-2014, 06:42 PM
[] - David - 03-12-2014 06:57 PM
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