If You Want To Be Successful in Trading, There's Only One Thing You Need to Do..
Copyright 2006 New Ireland Ventures, LLC
I've got good news for you. If you've been struggling to get the results from your trading that you expected, then you've probably dismissed the most important thing, and it's such a common mistake that struggling traders make and the pros don't: treating your trading as a business you own, not simply something you do.
If it's so simple, then What does that actually mean?
Let's take a closer look and see.
While most people know the difference between a hobby and a business, most who aren't profiting from trading fail to see that they are approaching their trading in the same way they would a hobby, instead of a business.
Hobbies are activities where a person has an interest and they enjoy the activity itself.
It's fun, exciting, enjoyable, and occupying.
A hobby is part-time, do-it- yourself and a learn-as-you-go activity.
Unfortunately this is good description of trading for many people, except that they don't recognize it as a hobby.
For most traders, trading is an activity that they simply pour money into, not make a profit from, and it stays in the expense column of their financial report.
A business is an activity where the underlying purpose and everything involved is to make money and show a profit.
There are certain requirements for anyone to go into business, as a business owner.
First of all, you have to have a decent head on your shoulders.
Not just anyone can trade, it takes money.
How did you come by the money to trade?
You had to be smarter than average.
Perhaps you're a high level manager, maybe a business owner, or successful professional.
Regardless, the markets are not where the average or below average person can be.
If you can't show up with several thousand dollars, you simply can't trade.
Just by being able to play the game, you've shown that you can amass a respectable sum of money, which takes being smarter than average.
Secondly, a business owner has to have reasonably developed management skills for managing the day-to-day operations, the money inflows and expenses, the exposure to risk.
In trading, risk management is at the core of the business.
Not only making sure that every trade is properly balanced with regards to the risk involved on any given trade to the potential reward, but the exposure to risk of the account as a whole is critical.
Too many traders put too many eggs in too few baskets, and with the uncertainty of the markets, it is imperative that the trader fully understand and manage risk so that the business will survive any downturns and keep the doors open next month and next year.
Thirdly, the smart business owner understands the necessity of a team, a solid support staff.
Any business that is a one-man show is destined to limited success at best.
Quite often, the story doesn't have a happy ending.
The number of hats that the owner has to wear involves too many, non-income producing tasks and time is not spent where it should be.
The most critical person to have on your team in a business is an experienced mentor and counsel.
Any successful venture starts with a solid knowledge of the industry and the markets that are served.
The inner-workings of that business and what mistakes to avoid, plus a deep understanding of what the real profit centers are, and the true potential liabilities, the risks involved, must be understood going into the business.
That is what a good broker can do for traders: provide the expertise and experience to tell the difference, and guide the trader to real opportunities, while safeguarding against dangerous situations and decisions that can ultimately ruin the profitability of the business.
Lastly, and most importantantly, traders need to recognize that they are people, and all that goes with that.
They're not computers where a new body of knowledge can just be loaded from a CD.
It takes time to absorb information and develop skills.
Humans also have feelings.
While knowledge is power, it is so often over-ridden by emotions that unless one develops a level of emotional control, the emotions that come into play when trading will cause a variety of poor decisions that cause substantial losses.
Success in trading first comes from recognizing that trading is a business.
It is an activity where ignorance, inexperience and emotions are the biggest liabilities and the greatest risks.
By first locating a good broker for guidance and mentoring, then constantly devoting time to personal and professional development, especially practicing and developing particular skills, a person will give themselves the best odds of achieving the end-goal of having a profitable trading business.
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For more information on trader development, go to http://www.traderssuitofarmor.com/sya1thing/
Make Mine to Grow: Building Your Solo Business to Outgrow You!
Many solo entrepreneurs choose to curtail their businesses growth for the purpose of lifestyle. Others have visions of expansion right from the start. Being the only person in a business, wearing all of the hats, is just a stepping stone to increased prosperity. What steps can you take if you plan to expand your business some day?
Right from the beginning, develop a business plan and marketing plan. Think of them as road maps to where you want to go with the business and directions on how to get there.
They provide the foundation for the future success of your business. Although it may seem like a daunting process before you start, creating snapshots of the most important elements of your business is priceless.
The critical component in preparing your business to grow is to make a habit of developing documented and well organized systems. If you use the same documents regularly, turn them into templates to use repeatedly. Better yet, have them turned into...
Hats > Make Mine to Grow: Building Your Solo Business to Outgrow You!
Time is Running Out for "Intelligent Design"
Boston, MA (ContentDesk) April 9, 2006 --
Tick tock Tiktaalik. Time appears to be running out for the idea of Intelligent Design. Paleontologists have just reported a discovery that promises to be as significant to evolutionary theory as it will be damaging, if not fatal, to biblical literalism. Now Bob Michael is commemorating the discovery with hats, t shirts, jerseys, sweatshirts, mugs, pillows, and tote bags.Proponents of Intelligent Design claim that a superior intelligence created each species in the forms that we see today. They insist that evolutionary theory is wrong because there exist no transitions, no evidence of "missing link" fossils to show changes from one species into another.
Their argument has always, of course, ignored the existence of archaeopteryx fossils - the transition species from reptile to bird. Now we have the uncovering, on Canada's Ellesmere Island, of a fossil which clearly shows a species that bridged the gap between fish and land animals....
Time is Running Out for "Intelligent Design"
Hats > Time is Running Out for "Intelligent Design"
Golden Autumn Handbag Collection Launched by Designer Marina Hayes
Newport News, VA (ContentDesk) October 5, 2005 -- New fashion knitwear designer Marina Hayes announces the launch of her Golden Autumn handbag collection available at www.marinashatemporium.com. This colorful hand knit collection is bursting with hues reflective of autumn in Russia, including tones of red, gold, orange, blue and every shade in-between. "Fall is my favorite season, "says Marina Hayes. "I focused on vibrant autumnal colors and new and unique silhouettes. My bags are designed with women in mind who love turning heads and making a bold statement."????Marina has designed and hand knitted five styles of handbags for her new Fall Collection.
Each bag is adorned with beads, ribbons and brooches by ElleB. All bags are made from natural high quality yarns, lined, numbered and signed by the artist herself. To ensure each bag has a personal artistic feel, Marina creates each bag individually from scratch, down to the last stitch and adds to her creations her talent and love....
Golden Autumn Handbag Collection Launched by Designer Marina Hayes
Hats > Golden Autumn Handbag Collection Launched by Designer Marina Hayes
If You Want To Be Successful in Trading, There's Only One Thing You Need to Do..
Copyright 2006 New Ireland Ventures, LLC
I've got good news for you. If you've been struggling to get the results from your trading that you expected, then you've probably dismissed the most important thing, and it's such a common mistake that struggling traders make and the pros don't: treating your trading as a business you own, not simply something you do.
If it's so simple, then What does that actually mean?
Let's take a closer look and see.
While most people know the difference between a hobby and a business, most who aren't profiting from trading fail to see that they are approaching their trading in the same way they would a hobby, instead of a business.
Hobbies are activities where a person has an interest and they enjoy the activity itself.
It's fun, exciting, enjoyable, and occupying.
A hobby is part-time, do-it- yourself and a learn-as-you-go activity.
Unfortunately this is good...
Hats > If You Want To Be Successful in Trading, There's Only One Thing You Need to Do..
Platform Development Tip #1: Switch Writing Hats!
Platform-Building Tip #1: Switch Writing Hats!Around eighty percent of nonfiction books today are written by "experts," that is people who have a) earned credentials in the field they're writing about, b) germinated information via articles, live presentations or other media, or c) had extraordinary, unique or memorably told life experiences relevant to their topic.For an autobiographical work, such as a memoir, an author needn't have any special expertise?she is the foremost authority on her own life. For a how-to or self-help book, however, the first thing mainstream publishers want to know is, "Does the author have a platform?"Among the multiple definitions of "platform" in Merriam Webster's 10th edition are 1) a place from which to speak, 2) a set of principles, and 3) a vehicle for carrying things. All these are important to an author's platform. The good news is, in the six to eighteen months it will take most authors to write either their book proposal or their entire book, they...
Platform Development Tip #1: Switch Writing Hats!
Hats > Platform Development Tip #1: Switch Writing Hats!
Sierra Trading Post Outlet Announces Product Expansion
Cheyenne, WY (ContentDesk) January 23, 2004 -? An outlet store customers have come to rely on for name brand outdoor clothing, footwear, and gear over the years would be an unlikely place to find the same great savings on clothing lines including Wrangler, Roper, Cinch and Stetson. Not anymore. Sierra Trading Post announced this month that it will begin carrying boots, hats, jeans and shirts from a number of quality western wear vendors.
"We're expanding the same savings we've always offered on our traditional product line to include a western line," says Sierra Buyer David Dietel. "This allows our customers to enjoy impressive savings on the name brands in western wear they've come to trust."Ariat ropers that retail for $120 are $70 at Sierra.
Customers will save nearly 50 percent on Wrangler jeans, and Cinch shirts, normally $50 are $19.95. Other vendors working with Sierra include Stetson, Dan Post, Roper, Justin, Tony Lama, Nocona, Frye, Double H, Acme, and Resistol."It...
Sierra Trading Post Outlet Announces Product Expansion
Hats > Sierra Trading Post Outlet Announces Product Expansion
UKIPHome Blog Interview Reveals Campbell Bannerman’s Small Government Vision for the UK Independence Party and Opposition to State Funding of Political Parties
(ContentDesk) July 24, 2006 -- In an interview with UKIPHome, the independent blog seeking to promote progressive reform within the UK Independence Party, Party Chairman and leadership candidate David Campbell Bannerman has detailed a clear, positive, small government, and perhaps small c conservative manifesto that could transform UKIPs fortunes.With the campaign to elect a new leader of the UK Independence Party in full swing, there has been much focus on UKIPs two most politically experienced and high profile members, Nigel Farage and David Campbell Bannerman, who have both thrown their hats into the ring in a bid to replace Roger Knapman, who steps down as leader in September.Two other candidates have joined Farage and Campbell Bannerman in the leadership election but
it is widely acknowledged that the victor will be one of these two as a result of their high level political experience, relative electoral success and wide recognition amongst the partys membership.In...
Hats > UKIPHome Blog Interview Reveals Campbell Bannerman’s Small Government Vision for the UK Independence Party and Opposition to State Funding of Political Parties
Platform Development Tip #1: Switch Writing Hats!
Platform-Building Tip #1: Switch Writing Hats!Around eighty percent of nonfiction books today are written by "experts," that is people who have a) earned credentials in the field they're writing about, b) germinated information via articles, live presentations or other media, or c) had extraordinary, unique or memorably told life experiences relevant to their topic.For an autobiographical work, such as a memoir, an author needn't have any special expertise?she is the foremost authority on her own life. For a how-to or self-help book, however, the first thing mainstream publishers want to know is, "Does the author have a platform?"Among the multiple definitions of "platform" in Merriam Webster's 10th edition are 1) a place from which to speak, 2) a set of principles, and 3) a vehicle for carrying things. All these are important to an author's platform. The good news is, in the six to eighteen months it will take most authors to write either their book proposal or their entire book, they...
Platform Development Tip #1: Switch Writing Hats!
Hats > Platform Development Tip #1: Switch Writing Hats!