Pre-Trading Couseling-What I Wish I Had Known When I First Started Trading
Before I got married my husband and I sat through weeks of pre-marital counseling with our Pastor and weeks more in a class setting. We learned so much and it helped get our marriage off to a great start. As I celebrate my 3 year trading anniversary and think back to when I started perhaps that would have been helpful before I started trading. You know, Pre-Trading Counseling. Someone to sit down with me 1 on 1 and say,
“This isn’t always going to be easy.”
“This is going to take a lot of hard work.”
“This will stretch you and make you uncomfortable at times.”
“This will make you grow and refine you.”
“There will be times when you will second guess yourself and wonder if you have what it takes.”
Well I’ve put together just 4 of the things I wish someone had told me when I started trading and perhaps they can be helpful to someone else who is starting out particularly if trading with Neuventure on Wall Street.
- 300% returns are not the norm. Yes, that is what is used in the seminar examples giving me dollar signs in my eyes and thinking I’m going to always get the perfect buy and sell point. Doesn’t work that way. 300% returns come along but they are NOT the norm.
- It’s okay to get trading information from a variety of sources besides just NVOWS. At fist I was told I would just get more confused if I learned trading from anyone/anywhere else. This closed me off for maybe over a year of learning from outside sources and to be honest I just didn’t get enough information from only NVOWS to make me a great trader because I couldn’t afford all their programs that make up a well-rounded trader. I mean, I didn’t even learn historic horizontal lines from them and we all know those are a really big deal. It’s simply okay and even important to take advantage of some of the great information available through books, websites (here are some of my go to websites) and other traders.
- Being an NVOWS “Insider” is not an excuse to casually look at the market and not do much while waiting for Market Alerts and Stock Calendar updates. For more time than I would like to admit I was extremely passive and would hardly glance at the markets until I got a Market Alert telling me it’s time to trade and here are some stocks to look at. Well by the time I looked into all of them they were past good buy points and I had missed the move…again. This is such an important lesson to learn early on. You must do the work yourself. Look through charts everyday. Set price alerts on stocks nearing good buy points. Check earnings. Be ready with stocks so when the market lines up you are ready to pull the trigger quickly.
- And the number 1 thing I wish I had known when I started is that trading is a ton of work. I got the impression at my first seminars that trading was simple, anyone could do it and I could easily make a bunch of money. NOT THE CASE! It is hard work and involves sacrifice. Sacrifice of free time is the main one. Instead of reading a nice recreational feel good novel or watching TV, evenings after the kids go to bed are spent pouring through charts, past trades and continuing to learn how to become a better trader.
Had I known some of these tidbits I could have probably learned more quickly and saved myself some disappointment. Other tools you can use are my questions to ask yourself when considering trading and my top 10 things to know before attending Seminar 1. I know my pre marital counseling helped me learn some realistic expectations of marriage, my spouse and the effort it would take to have a wonderful marriage. So there was my attempt at a little Pre-Trading Counseling.
How ‘bout you?
What do you know now that you didn’t know then? Or what would you tell someone at Pre-Trading Counseling?