| You're going to be putting a lot at risk when you start | | | | comfortable you've found a legitimate system that fits |
| actively trading. You will not only be risking your money | | | | your investor profile. If you want to be in this industry |
| and all it represents for your future but a big part of | | | | beyond the famous six month burnout (or burn through |
| your self esteem and your reputation with friends and | | | | your money) period you need to be serious about your |
| family. Given the stakes involved it's amazing how | | | | craft and give the important decisions you'll be making |
| ill-prepared many (if not most) beginning investors are | | | | the thought and consideration they deserve. |
| when starting their trading career. | | | | The barrier to entry in investing is so low (just fill out a |
| The typical beginning investor will buy a book or go to | | | | form on a brokerage website and put a few hundred |
| a seminar then jump into the market head first without | | | | dollars in you account) that too few investors treat |
| stopping to consider the sanity of what they're doing. | | | | what they're doing with the importance and thought it |
| They're putting so much at risk yet they're willing to | | | | deserves. If you truly want to be successful as an |
| make potentially life altering decisions about their | | | | investor you'll put on the brakes a little before you start |
| finances based on what one book or one program | | | | and spend some time learning about the industry, |
| teaches is the path to success. Would anyone | | | | investigating competing trading strategies, and looking |
| consider themselves an expert architect after taking a | | | | at yourself and your personality to decide what |
| weekend course on using Computer Aided Drafting | | | | approach fits you best. |
| software at the local community college? Of course | | | | Of course you don't have to do any of this. You can |
| not and it's the same with investing. | | | | open your account and start trading by lunch without |
| The idea of putting your hard earned money at risk | | | | doing an ounce of research or considering any of the |
| investing should be something that strikes fear into | | | | implications of what you're doing. Just don't expect to |
| your heart - enough so that you're willing to spend | | | | still be trading in six months because you're almost |
| months researching and paper trading until you're | | | | guaranteed to be out of the industry by then. |