Beginner Stock Market Investing: The 5 Step Stock Market Trading Business Plan
5 Habits of Profitable, Stress-Free and Successful Beginner Stock Market Investing Traders.
In order to be highly effective and successful as an individual you have to know the outcome you wish to achieve. At the beginning of every endeavor and
every adventure you have to know where you are going and why you are going there. This is the first rule many successful people adhere to.
However, this rule seems to be forgotten by many beginner stock market investing professionals . Individuals who begin their trading
journey seem to forget that what makes them successful in other parts of their lives can and should be brought into their trading activities.
The 1st habit of success as a stock market trader or stock market investor is to know the outcome you desire and take full responsibility to get there.
One way to tune into the outcome you desire is by asking yourself these 3 questions;
Why am I trading?.............................................................................
What vehicle will I be using to reach my outcome or my goal?......
What time frame am I going to focus on?................................
These 3 questions will assist you to focus on your goals and encourage you to come up with a solid plan to reach your goals.
The reason beginner stock market investing professionals need a solid target to focus on and ultimately
reach is because money in and of its self has no intrinsic value.
If a trader
is only trading for the sake of making a lot of money, the motivation to carry on trading when the chips are down may become unbearable.
Watch This Quick Stock Market Trading Video Lesson To learn The 3 W's That Can Make You Rich In Stock Market Investing
So in the example above the trader might answer the above questions by examining their goals.
For instance, the question: “Why am I trading?” A trader might decide that they are trading because they want a better quality of life and if they pursue a trading career, they will no longer have to work
60 hour weeks and they can have the time to focus on their family and spend more time enjoying their life instead of spending time at work.
Another trader’s reason for trading might be to make enough
money to never have to worry about their retirement. Or they might want to trade so that they can better provide for their family.
As individuals, our reasons for trading are different; however,
before we embark on a journey into this challenging career path, we need to be absolutely certain on the reason we are trading.
The second question: “What vehicle will I use to accomplish my task?” can be answered by examining what type of market
instrument you have experience in or would like to acquire education in. For example, when I began trading, I traded the Forex market.
The reason the Forex market was appealing to me when I first began trading was because I could trade the market at night and still attend college during the day. The rationale for trading the currency market was two fold. I enjoyed
working at night during my college years, and the Forex market provided an opportunity to begin trading without acquiring a series 7 license.
The third question: “Which time frame am I going to focus on?”
If you currently hold a full time job and you are not quite ready to resign from your job, you can focus on purely longer time frames for your entries and exits.
However, if you are fortunate enough to have a substantial amount of capital
and a family that can support you as you go through the learning process as a
trader, you then might want to embark on a professional trading career.
At this level you will be required to obtain a trading
license, either a series 7 license or belong to a company that will sponsor you to get your professional trading license.
These 3 questions are structured in a way that will force
your brain to search and come up with answers that you would not other wise think of if you were not planning on trading for success.
Many Beginner stock market investing professionals begin their trading careers with the aim to make a lot of money, then find a broker and begin trading. This is the reason
why 95% of the individuals who start trading either wash out after the 1st year or completely lose their money and have to start all over again.
I can attest that when I first started trading I decided to trade for the money.
I soon realized that the money in itself was no longer providing the rush.
Firstly I didn’t have a plan; secondly I didn’t even have a goal as to what I would do with all the money I would acquire in my trading career.
I would attribute some of the challenges I experienced as a, Beginner stock market investing professional, to my lack of planning as I started out in the trading world.
I am not saying that trading is an easy career to master, but having a solid plan, definitely makes it easier.
The reason I created this website was to encourage other stock market investors or stock market traders to begin with the end in mind.
When you begin with the end in mind you have
a higher chance of succeeding and your success can manifest at a far quicker rate than if you go about it with a solid goal and trading plan.
Now that we have discussed the first important component to your success as
a trader, we are going to focus on the nitty gritty parts that will assist you on your daily journey.
The first part of beginner stock market investing was focused
on the planning of your business. Stock market trading is a business and should be treated as a business in order for you to succeed.
The goal of this website is to bridge the gap between the learning and the stock trading experience.
To make that gap easier to bridge for all who participate in stock market for beginners,
we advise for all new traders to acquire the Basics of
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