FINANCE : ENGLISH - A TRANSLATION
You will get
- A basic finance video encyclopedia
- Explanation of the most used finance terms and products
- An idea about how they got used at the markets
- Combined and straight to the point info in 18 Videos
- FREE access to the section "Free Membership" with 4 additional videos
- Receive Updates about more free stuff as well as when new Videos get published
Become a trader or investor, is that easy?
Here are some thoughts about it
When I started to get into daytrading, friends and family asked me what I´m doing there. I had dialogs like this: “Isn´t that some sort of gambling?”, “If it´s that easy, why isn´t everybody doing it?” - IT´s NOT easy, thats why 90% fail. “So why do you think you could be one of the 10%? - Because I am persistant, I´m eager to learn and I´m certain I can succeed. - But that costs money right? What if you lose all your money? - Thats why I start with a demo account, fake money, to try my strategies and develop experience. - But that doesn´t bring you money, right? So, what if it doesn´t work out.... And so on.
Explaining how the stock markets work and that almost everybody flattens the first accounts balance is something that doesn´t go easy with peoples minds. Next thing is that the odds are against you, when it comes to maths. It´s true that 90-95% fail, thats a simple and undeniable fact.
Becoming a Daytrader or an Investor is just like any other job when it comes to educational measures. It has a reason why upcoming surgeons practice in dead folks, it has a reason why pilots hone their skills in a simulator, it has a reason why any kind of apprenticeship last about 3 years. And you don´t even have to go that far, is has a reason why you are not allowed to drive a car in public traffic after the first hour of training. What you can get is a basic idea about it, but for the rest you need more experience! Thats one of the key words for success in the money gaining world, Experience, experience and patience. Speaking of those, here is a little story about upcoming Traders and investors. Eventho I exaggerated on some parts, it´s actually almost predestined to turn out this way:
So you hard about this daytrading and that you can make money with money, and you do not even need a few hundred thousand dollars to get started. Awesome, lets do this! You watch some videos on Youtube and read about the topic in blogs and you get really excited about all this new things you hear about and how many people are already gotten rich from that. You ignore the news that a random Fonds manager lost Billions of Dollars in one trade, thats not important right now. However, you get started, by deposit a few hundred Dollars on a Brokers account. You are smart and start the trading on a Demo account, but soon you realize it works too good to not use real money. And now it happens. What worked perfectly with the Demo Account doesn´t with real money. You gained profit from almost ever trade with the fake money, but lose constantly with real cash. How is that possible?
One of the most common answers could be, it´s real money and your brain switched from “Gaining money” to “Not losing money”. Thats natural, and happens even when you put money on your account, you could easily afford to lose without having an effect on your daily expenses. The problem is, our brain overlooks the term “not” and turns to “losing money”. Eventho you may find it a little esoteric, but it´s actually like the law of attraction. You get what you put your focus on.
Also your emotions start to change, from excitement to despair, and here we may have the point if you become successful in the end or if you fail. Will you give up to your fears, your indeciveness, become unobjective and leave the markets with a bad feeling and “I knew it wouldn´t work in the first place anyway!” and “Thats all just scam, nobody really wins”. OR you decide to focus on what already worked, be brutally honest with yourself and re-start with the demo account. Where was the mistake, and how can you avoid it the next time? When was the point when you lost control over the trade? Questions like this will and how to get rid of bad trading emotions could be find in the “7 sins of emotional trading” course
I made a little video comic about that topic, even finance could be funny sometimes 😉 Just don´t take it too seriously. In case you wonder, the background music is also done by me. You may read about the sound engineer part on the front page....
However, at the end it´s just you, and you only decide how it will turn out. May you don´t even start because your strenghts are in a completely different area. Whatever you do, I wish you all the best, and remember: If you keep a positive attitude you can archieve almost everything!