Lesson: The Importance of Education!

by - 7:02 PM

One thing you need to realize, is that by choosing to become a trader, you have just choosed to try another career; and as in any other career you will have to get good education in order to succeed.
Many times, traders (me included) begun by checking out some stock tips, random strategies and random tips that they found on the internet, or worse, by getting involved in a promoted, pumped & dumped stock.

When I had the realization that stock trading is very much a career on its own, I decided to focus on learning:

  • Learn all about technical analysis: Support&Resistance, Trendlines, Indicators, etc. 
  • Learn at least the basic of fundamental analysis.
  • Learn strategies from real succesful traders.
  • Learn about trade & money management.
  • Learn about emotional control. Trust me, you will need it.
Finally, discover what trading style suits you best. You like fast action and are quite impacient? Try out daytrading; Do you prefer playing stocks that take a couple of days to move? maybe swing trading is for you; You are incredibly pacient and recon the opportunities of big wins on the long term? Well, then you could do really well with position trading.

Of course, after education there is the second part that is practice. But as I said, as in any other career, begin by getting quality education and then test yourself and improve your skills upon what you have already learned.

To finish, I would like to share with you this 2 videos from ClayTrader. He regularly makes "Stock Trading Quick Tips" videos regularly and this 2 relate to education with very clear examples. Enjoy!




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