Take the Time to Learn
After meeting many of you at our national conference in October, I was impressed that so many of our PremiereTrade® family had such a strong interest in learning more about improving their investing skills. Those in attendance traveled to Orlando from around the world, to listen and learn from our trading professionals, ask their questions and discover strategies that they could develop to fit their personal investing styles. Now is the time to continue developing the important skills necessary to become a successful trader and apply the information presented through the various breakout sessions, whether you are involved in stocks, FOREX, real estate, commodities or some other investment opportunity.
The learning process never ends. There's always something new to discover, but the goal today is to create a specific trading style that works for you. You shouldn't worry about understanding sophisticated trading techniques right now, just learn the basics. Plant a solid foundation that you can add to as you become more advanced. I'm sure if you've listened to JDfn radio programs you have heard the hosts explain that learning to trade effectively is no different than studying and becoming proficient in any other subject. If you are trying to learn how to play golf, you won't master the game in a few hours, a few days or a few weeks. It takes years of practice to become skillful and confident. The same is true in developing your personal trading techniques and style. As you learn and as you apply that information, it is likely success is just around the corner.
Make sure to set your short-term and long-term investment goals. Use the demo trading available on PremiereTrade® AI to adjust and practice your skills before your start using "real" money. If you're a consistent trader through the demo account, you will be able to assure yourself consistency when you open your "live" account. This doesn't mean you will be profitable in every trade you make, but it means you should be able to make your weekly goals consistently every week - every month. Some days will be better than others but, on average, you should be able to meet your personal targets.
Make sure you take full advantage of all the assets available to you as a member of the PremiereTrade® family. Listen and become actively involved with the daily JDfn radio programs, our daily web casts, and don't forget the JDfn message board. This is a powerful tool that will connect you with our trainers as well as your peers around the country who are discovering new methods of improving their trading each and everyday. You will find that the traders who use the message board want to share their experiences with you so you can become as successful as they have become.
One last piece of advice -- don't lose your patience and never give up. The reason you decided to become a trader was to change your life. Don't lose sight of that fact. Just keep moving forward, keep practicing and you will soon find that your trading style has taken you to the next level. Success is in your future and using the resources at PremiereTrade®, I know you will be able to accelerate your effectiveness as your trading victories become routine. Keep up the good work!
Happy Investing!
Originally published in the Outspoken e-newsletter.