End of Week Thoughts

We at the Academy of Financial Trading always find it fascinating when we talk to our students about their trading.  During an initial discussion, we like to cover all relevant areas – their history (if any), there intentions, their goals, their interests, even their opinions. 

Their “opinions” which tends to be of most interest to us… simply down to the fact that there is always an idea that “right now” is not the best time to enter the market. Current market conditions are too volatile “right now”. There is too much uncertainty regarding a militaristic conflict in some part of the world “right now”. There are too many conflicting reports regarding the overall global economic outlook “right now”.

We believe that there are only a few certainties when considering trading.  One certainty is that the time to learn to trade is “right now”.  Another is that the best time to trade is also “right now”. The world is always changing, it is always in a state of flux.  There is always economic uncertainty somewhere. There is always going to be a conflict in some region.  Volatility will always exist in the markets. 

We like the unpredictable nature of the markets.  We like the ever-changing environment. Can it ever be controlled?  Absolutely not – only a fool would think so. 

You can, however, control your trading.  Analyse a market in the correct manner. Use a proven trading strategy.  Ensure that you have a disciplines risk management technique. Remember that the protection of your trading capital should be your number one rule.  Then learn to embrace the change – to love the “right now”. This is one way to become a successful trader.

How to become a Trader – Easy Steps

What would you do if you wanted to learn how to play the guitar?  Would you buy a guitar, walk out of the shop, phone a concert promoter immediately and tell them that you want them to book you a slot on the main stage in Glastonbury next summer?  How long would that call last?

What would you do if you wanted to become a brain surgeon?  Would you buy the finest white coat in the business, and couple it with the sharpest scalpel machined from the best Japanese steel?  Would you then place an advertisement in your local newspaper offering discount surgery specials?  You might get a few patients, but the results might not be very positive!

The Academy of Financial Trading believes that trading should be treated no differently from either someone hoping to learn how to play music, or someone hoping to gain employment within the health sector.  In any instance, you need to first get an education.  You need to learn to trade.  You need to speak to an expert and, if possible, ask them to teach you what to do.  You need to refine your skills.

This is the easiest step which anyone can take… but for some it is also the hardest.  It is hard because most people are unwilling to admit that they are not an expert in an area in which they have a deep desire to succeed in.  The novice retail trader must accept that if they start out without any formal training, then they are going up against the very best in the business, and hoping to beat them.  

It might be less stressful to buy the Gibson Les Paul!