By Darrell Martin
When you think of all of the occupations in the world, of all the people you put your trust in, would you seriously let one of them perform their job without any training? Of course not!
Even if you consider what you may think of as a menial job, one that doesn’t require any higher education, it still requires training. There are proven beneficial ways to wash dishes and perform brain surgery. Both jobs may seem miles apart on the amount of study or education required before they are performed, but when you think about it, both jobs require instruction.
Likewise, the person that finds a website and begins trying his hand at trading the markets without any instruction may find luck, or may find he has a short career because the funds he had are suddenly gone. How much better would it be for him to take the time to learn the skills needed to be a good trader.
If he can invest the time with a reputable mentor or institution, one who has learned the basics and more, who wants to share what they know, who will help a new trader become a better trader, he will gain a greater education and foundation in trading.
It is important to study, learn and practice.
The best institutions will advise you to try it out in demo, virtual or paper trading first before investing your real money. Make your mistakes with “play” money. Keep a journal of what you did wrong and what you did right. Make sure you understand a concept before you move onto the next one.
Constantly jumping from one strategy to another can get so confusing that you might give up or make mistakes you wouldn’t have made if you took the time to learn each strategy well. Once you have mastered a system or strategy, then you are ready to try live trading.
Make sure that you learn about risk management. You have to know where to set take profits and stop losses as well as learn how to figure out how much to risk per trade along with risk per day.
As important as it is to know when to get into a trade, you have to know when to get out and you have to know when you are done for the day. You have to know when to stop.
After attending The Money Show in Las Vegas recently, it became even more apparent that successful traders from all walks of life highly recommend taking the time to get an education. One likened it to a business and said that 90% of businesses fail in the first five years.
Business is hard.
Treat trading like a business and make sure you have a strong foundation of understanding the trading business.
Don’t be too anxious to jump into something you’re not quite ready to do. Take the time to study and learn before doing. The best things in life take time. Training to trade well is worth the time invested.
If you are looking for training to help you succeed in trading, go to www.apexinvesting.com. Apex Investing Institute offers free education, and free access to the Nadex Binary and Spread Scanner Analyzers. Member traders are invited to trade in the chat rooms, take advantage of trade signal services, have key indicators and access the Apex Forum. The forum content is updated daily and includes over 9000 members. In a supportive learning community of seasoned as well as up and coming traders, traders of all levels learn how to trade Nadex binaries and spreads in depth, as well as futures, forex, stock and options, and gain an edge for successful trading overall.