Â Â Â Â Â The procrastinatorâ€™s road to trading is a journey encompassed about with detours, consequences, and roadside signs stating, â€œThis week I will,â€ â€œThe first of next month for sure,â€ â€œA must do for the family;â€ but alas, these signs are passed by, the status quo stays the same, and the profitability derived from being an equipped and successful trader is not forthcoming.Â Obviously, this isnâ€™t your plan; youâ€™ve researched the benefits of trading a gazillion times, but there is a habit here that needs to be broken. Â Maybe there are a few simple suggestions here that can move you from the â€œwishing sideâ€ to the â€œdoing sideâ€ of trading and move you into the trading room where you want to be.
Â Â Â Â Your procrastination can stop today, and a new trading education â€“ along with a good mentor â€“ can be yours quickly and without delay. Surely you want to move forward, but there is some specific origin to your hesitation. Â So, letâ€™s take on some major, pre-trading issues and allow you to overcome any that may be standing in your way.
Â Â Â Â First may be your fear of failure.Â You have heard those gloomy statistics; eight out of ten new traders fail, and you have already grouped yourself as one of the eight. Â No, you should group yourself with one of the two because â€“ like them â€“ you will take the time to learn and to become an equipped, professional trader who will run his/her trading like a business.
Â Â Â Â Â Hereâ€™s another possibility, you expect yourself to be perfect with your trading results, and since thatâ€™s never going to happen, youâ€™re not even going to give it a try.Â Perfectionism is just another procrastination excuse. Â When you learn to trade, youâ€™re going to start out with a simulated account â€“ a â€œpractice account,â€ if you will; here you will learn consistency and the resulting profitability that it brings with it.Â There is no â€œperfectâ€ in live trading; wins and losses co-exist, but consistency and proper money management equal financial success, and thatâ€™s the bottom line!
Â Â Â Â Last, maybe you think you are too busy to trade. Your present job â€“ or other practical concerns â€“ wonâ€™t allow you the time to trade. Â When you learn to trade, you will find that different timeframes will give you the freedom to be an intra-day, short term, swing, or position trader. Â Still not satisfied? Â Well, how about a twenty-four hour Forex market thatâ€™s just waiting for you? Before work, after work, or even at 2AM in the morning, it is ready when you are, and it always has excellent volume and volatility.
Â Â Â Â Are you ready to step through the trading door? Good, and congratulations! For those that may still have lingering doubts, stay tuned, as â€œThe Procrastinatorâ€™s Road to Tradingâ€ Part Two is just around the corner.
Todd Mitchell is the CEO & Founder of Trading Concepts, Inc. He's been trading since 1994 and has mentored over 12,000 traders from Wall Street to Main Street. He's an expert at developing strategies for creating more consistent daily, weekly and monthly income.
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