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Here is my single best advice I can give someone who wants to improve their stock trading skills for bigger profits. Of course, there could be hundred more tips but first things first. You can not be profitable and successful by ignoring the first step.
My advice is: Know yourself. I strongly believe that this is the most important advice ever for a stock trader. Unfortunately it needs some experience and a lot of discipline to make this advice work. And nine out of ten people fail.
So what does it mean? Online stock trading is like any other business, hard work. It is 90% blood, sweat and tears and just 10% about picking the right stock or following a system.
Everyone is different. I talk about the way you react to certain situations. Most people are simply not made for trading stocks. They do exactly the opposite of what they should do just because they loose control over their emotions. They are mentally instable. They should have known themselves better. They loose because they are a loser. Period.
That is why just a few traders ever make a fortune in the stock market. That is why most people loose money to them. It is like in the real life. Most people are a looser and do not reach anything in their life. This is no offending, just plain words and reality. If you want to compete in the stock market then you must be able to face the truth without emotion.
We all have dreams about what we want to achieve, about who we want to be. Most of us believe that we are somebody. But the truth is that just a very small percentage of us has the guts, discipline and the total commitment to follow through to the end. Very few people have what is required to actually achieve the ultimate goal.
The stock market is something special. There are just two ways you can go. You either win or loose. If you win, then you can only win big. If you loose, then you loose everything. There is no thing in the middle.
Imagine you have to trade for a full year every single day. At the end of the year you either made it (big time) or lost it all. You see, there is no room for whining and hoping. There it is. Take it or leave it. Therefore you must go for the ultimate goal. It requires everything.
Most people are never a winner in anything in their life. They are happy to get around and make ends meet. That is great. Nothing bad about that. But if you talk about being a successful stock trader, talking about big money in the stock market then your are talking about climbing up a mountain big like the Mount Everest. Are you strong enough for that? By: David A. Sorenger
Article Source: www.ArticlesBase.com
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