As a trader, you can be your own boss, set your own schedule, work from home and have the opportunity to reach unlimited income potential. While it is easy to get into trading, it is challenging to become a successful trader. It’s like football: it’s easy to get out on the field and toss the ball around, but it’s a whole other ball game (no pun intended) to become a pro player. Like the football player, you have to put in your time if you want to be successful.
This guide serves as an introduction only – it is not intended to provide all the information you will need to be a profitable trader. In addition to the topics covered in this introduction, you will have to learn about the markets – what they are and how they work – and you will need to understand margin, leverage, the tax implications of trading, how to keep accurate records and the extremely important concept of risk, to name a few. You can read more on all of these topics in part two of our beginner trading series.
Trading as a business, and not as a hobby, is a long-term endeavor that requires continual learning, evaluation and adaptation. When approached as a business, trading can be an exciting and rewarding venture.