Importance of Training to succeed in financial markets
The advent of electronic clearing systems and real time data relaying has made financial trading a lot more easier and has levelled the field to a great extent in terms of accessibility. But the number of successful traders in the financial markets have not increased by much. While a lot of issues can be attributed to the dismal performance of retail investors in general and novice retail traders in particular, one of the important and the often overlooked issue is the lack of guidance, or in professional terms, “Mentorship”. Remember, all greats in the financial markets, had mentors.
You might ask me why a mentor? You might also corroborate your idea by stating that it is your money and you do what pleases you. Well, I Say, It is because, your own “hard earned money” is involved. So you should look to get some professional training before you actually get your feet wet.
Financial market is not a place for eccentricity. Most retail traders, who have no exposure to the market will show this eccentric behaviour when they face a difficult situation. Be informed that your behaviour will have a telling effect in your trading success
In any profession, To be successful, We have to devout a lot of time and emotions. It will take a lot of passion as well. I can quote many examples of professionals, who become the best in whatever they did by devoting years. Financial trading is no different. But the problem is, when people enter and trade the markets on their own, they have a one dimensional approach. Before they could pick up the nuances in the market, All their capital will erode away, and they will become averse of financial trading.
How many retail traders do you think will know the do’s and don’ts of the financial markets? How many would have learnt those by themselves? How many would be wiling to share their experiences with you? I bet hardly any. Experience, in the financial market very vital both from the monetary and emotional point of view. I have seen many traders let their visceral thoughts prevail over their analysis many a times. This is a not the best approach in the market. A Professional will be able to guide you round in this situation.
You should seek professional help when
- You don’t have enough knowledge about the market.
- You lack the confidence to trade in the market.
- You seem to get everything right while paper trading and fail.
Keep this in mind, In financial trading, you are competing with best of the financial minds playing with the comfort offered by the ridiculous money under their “control”. If you are to outsmart them or even
to match their strength, You would need the professional approach, which most retail traders think they can learn by themselves, but they don’t.
If you want to be a successful financial trader, Don’t think it is wasteful to invest in “learning about the markets and its nuances”. As I always say, Investing in equipping yourself is the best investment you can ever make. Don’t hesitate to seek professional help when needed.