Trading is Time Consuming

Once you have some experience with the software and the trading platform that you are using, you can execute a trade with accuracy in a matter of mere seconds. But just because that actual process only takes a moment doesn’t mean that trading is quick. The research that goes into accurate trades takes hours and hours, and skipping this step will not help you to make money. In fact, it is only going to hurt you in the long run. For the sake of argument, we’ll say that you are averaging 8 correct trades a day, and 2 incorrect. That’s a loss of $200 right off the bat. With a 78 percent rate of return, your profits for the day net at $624, and a gross of $424 in profits each day. As time goes by and your account grows, you may want to bump up this number. If you do that too quickly, the variance will catch up with you very soon. What if you have a day where you have 0 correct trades? A loss of $1,000 can erase many accounts completely. To avoid this, you need the stability of time to even out the kinks that will arise here and there. There’s no way to avoid this.

Now, consider the fact that to achieve an 80 percent rate of success with your trades will probably require several hours of research. Looking at 15-minute binary options should only equal 2.5 hours of actual exposure per day. But when you add in the research time to get to that point, you are probably going to be spending 8 hours per day or more. Eventually, that number will go down. But before you get to a professional level and feel comfortable automating parts of your trading, you need to treat your trading like it was a fulltime job. If you don’t, it will be hard to think of it as anything more than a hobby that makes money for you once in a while.

There’s nothing wrong with spending less time trading. But, if you do this, you shouldn’t expect to ever get better than decent at it. If you truly want to be an independent, professional trader, you need to put in the time and get the experience necessary to adjust as markets change and the old methods no longer work like they used to. Trading is tough, and the best way to get better at it is to keep practicing.

One of the nice things about trading is that it presents financial freedom to many. Not many people enjoy the 9 to 5 grind of an office job, and trading is a nice, home-based, alternative to this. It’s an awesome goal, but it’s not something that you will achieve right away. The best traders in the world spend years of hard work getting to where they currently are, and even with great tools on your side, there’s no reason to believe that your success will be instantaneous. Beginners need to start out small and work their way up, otherwise they are going to lose too much too quickly. This defeats the point of trading, and needs to be avoided. If you are serious about becoming a profitable trader, you need to put in the time and energy. Sure, there are a lot of great services and robots out there than can help you make more money while spending less time, but even these require monitoring by you. If you want to be good at this, you need to put in the time to get there.