Trading is an attractive business idea to many. Traders are lured to the idea of being their own boss, working from home, not having to "go to work" and of course, the lure of making big profits. Fortunately today, there are a vast number of trading coaches, training seminars, dvds, trading systems and more. The confusion for the new trader is "which course is the best one for me?" It is easy for a new trader to spend $5000 or $6000 on a trading seminar, and still not be able to use the information to make a profit. A trader needs to first decide what type of trading he or she wants to start with. For example, day trading, swing trading, forex, commodities trading, or options trading. It may be best to first learn about the types of trading online or at free seminars at your local stock exchange. For me, I have spent considerable money on courses finding the trading system that suited me. My advice to traders is to do your research and find out as much about trading as possible before deciding which course to buy and attend. Ask as many real traders as possible about their own experience so you gain insight. A prospective trader also needs to familiarise themselves with trading psychology, as this area plays a major role in the success of a trader. Trading needs to be treated like starting a small business, the only differnce is the convenience to learn to trade online today and trade part-time while you keep your current job. This gives the new trader the benefit to decide if trading is for you. Part-time trading also gives the new trader time to build experience and equity to allow them to leave their job full-time if they so desire. The other way to look at trading is as a part-time second income to cover extra expenses like holidays, a new car, help pay the mortgage etc. In summary, trading can be a profitable business full-time or part-time.
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