Global Market Trader Blog

Please get trading education first before you start to trade live!

I have lost count of the traders who come to Global Market Trader looking for help and guidance because they are currently losing money trading the markets. The typical question that we get as an education business is “I am losing money and I’m finding it hard to deal with it”. The next question is generally “can you show me how to make money in the markets consistently” of course our answer is yes because that is what we do. That follows with “how much does it cost and will it take long to learn”. The last line there is a classic because it is obvious that already the signs of wanting to take a short cut and not wanting to invest in education are imminent. NEWSFLASH- Getting an education in trading does take time and money, which is how you become successful and not one of the many losers in the market.

Please keep reading if you have been one of the people asking that question not only to GMT but to anyone providing a service to do with trading. Here are some more points to digest.

I guess it all comes back to yourself and what you have done previously before you took up trading. Most activities in life require practice, time, someone else showing you how to do it, a set of rules to follow, tools and a will to succeed. However, to be very good at it for most people anyway, it requires all of the above plus dedication, sacrifice, money, coaching, mentoring, patience, discipline and most importantly the ability to listen. Ohh and don’t forget that you have to accept that your previous history with trading is gone and you can never get back what you lost while trading without an education. It takes time…… and you know what? It is probably a good thing that market has spat you out if you went and traded live without a trading education. I know that sounds harsh but it is actually a good thing as you are now looking for help and should be able to correct your ways with some education.

Let’s see if you have followed in pattern A or pattern B when you started?

Pattern A

1. Have had the idea that trading maybe an easy way to make money
2. Started reading about how to trade and what to do
3. Spoke with a financial adviser about your idea of trading and maybe getting some education
4. Researched from the advice of the financial adviser about getting an education on trading
5. Spoke with a few trading education providers
6. Checked to see if they are legally allowed to provide trading education as part of the ASIC regulations if they are in Australia
7. Spoke with a staff member of the education company and discussed your goals and ideas
8. Completed some trading education and read material that is relevant to your goals
9. Started trading in Demo mode
10. Waited until you are confident and profitable in demo mode before you go live
11. Often speak with a trading coach to reassess your goals and trade plan

Pattern B

1. You were sick of your day job and want some fast money
2. Have a quick flick on the net about how to trade
3. Start playing around on a demo simulated account and trade huge lot sizes
4. Make huge returns in demo mode just selling or buying when the market runs
5. Open a small account with live money
6. Blow that account up
7. Open another account chase the money you lost
8. Trade again thinking you will make that money back
9. Eventually lose that too and think that it is too hard
10. Ask for help about trading and expect that it is a quick fix to make money
11. Think that trading is easy just need the right system and don’t need the education

We find that typically (although the example patterns are very broad above) Pattern B is 90% of traders and how they started. It is also quite a shock to most people when they are told that trading is 80-90% mental with strict rules, trade plans, mental training and based around trading psychology. It is not all about just trading a live account off an indicator that “works”. Most trading programs require in depth study and it will cost you money to have the time of an experienced coach to show you how in a one on one format. Global Market Trader actively mentors and coaches students in a one on one format, which is why the success rate is near 100%.

If you have got a trading bot or system that you have purchased previously which came with a manual and an indicator without training in a one on one format please get a refund or chuck it in the bin. You are wasting your time and money if you are buying systems or methods without a trading education. Education and knowledge about the markets is the key to being profitable in the markets over the long term. If a system doesn’t work after a while you need to know why, what is causing it and how to make it work going forward. This is part of the fundamental knowledge you get as part of a trading education package with Global Market Trader and it doesn’t even scratch the surface to what the whole program gets you.

So I guess in short what we have found over the years is that you need to have a trading education if you want to be part of the very few who have a trading career that lasts longer than 12 months. Please ask for more information on the Global Market Trader mentoring program so you can get an edge over the market and gain the knowledge and tools required to succeed in trading.

Regards

Global Market Trader

info@globalmarkettrader.com

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