Updated: Jan 16
In today's tech-savvy world there's millions of new retail traders diving into the market. All thanks to Robinhood that enticed everyone with their zero commissions, no account minimums, and a user-friendly platform. Robinhood unintentionally started a snowball effect that caused other brokers to offer zero commissions as well. As a result, the effect was an influx of uneducated traders jumping headfirst into the market.
What is your edge?
With new traders storming the market without any trading knowledge, professionals are luring them in and taking their money relentlessly. If you are thinking of becoming a trader, are a beginner trader, or if you are a trader still looking to find your feet in the market, how will you have an edge over the professionals out there. There is no secret strategy out there that will make you a successful trader overnight. Trading requires hard work, dedication, and perseverance. There is simply no other way to beat the market other than arming yourself with the proper knowledge.
How long does it take to become a successful trader?
There is no set time frame to become successful. On average, it takes self-taught traders anywhere from one to three years until they become consistently profitable. For many self-taught traders, it all came at a price. Many paid their tuition by blowing up their accounts before achieving success. It is important to note that about 90% of aspiring traders fail to become profitable!
Why do the majority of traders fail?
In my opinion, it all comes down to one thing, lack of trading knowledge. It is essential to have sufficient knowledge and direction before taking on the market. Here is an analogy that I like to use to deliver this point across. If you are a boxer and have a title bout coming in the next few months, it is essential to have a trainer who will prepare you the proper way. To properly execute your plan, you must first study your opponent's strengths and weaknesses. As a boxer, you will most definitely need to know when to go on the offensive and when to protect yourself or you will be risking serious injury! Trading is very similar. Without proper training, there will be no long term success. Knowing when to buy and sell is critical for success in an unforgiving market.
Can I become a successful trader?
Yes, you can become a successful trader! Isn't that great news? Becoming a successful trader isn't easy, but it is attainable. I would recommend that beginners and/or struggling traders look for a mentor to help get ahead of the learning curb and become profitable traders in a shorter time. One thing that beginner traders fail to understand is how complex trading is. It doesn't need to be that way. With the proper guidance and the right mentor, new traders can achieve success without complicating the educational process. A good mentor will place your interests first and guide you through the learning process in a step by step solution.
How do I find the right mentor?
A mentor will guide you through the fundamentals of trading from acquiring the correct broker to the final detail about why a stock has value. Before committing to any mentor there are a few things that you need to ask yourself. What do I want to trade? Is it stocks (i.e. penny, mid, or large-cap), Forex, Bitcoin, Options, etc? After determining what you want to invest your education in, then you can start your search for the best mentor. Other things to consider before joining a trading stock service is the cost for the educational value. Some mentorship courses run in the thousands of dollars. If you plan on taking that leap into faith and are serious about becoming a successful trader then investing in a trader education course is the way to go. There are plenty of mentors that offer a wide range of educational opportunities at different price ranges.
Does pennystocksclub13 offer a mentorship program?
Pennystocksclub13 does offer a mentorship program. It is affordable, easy to understand, and is scalable for traders of all skill levels and account sizes. Although pennystocksclub13 does offer a mentorship program it is not the only option. Feel free to do more research and explore what's out there.