I received a comment on YouTube which implied that being a trader in the stock market (or any financial market for that matter) is a problem when it comes to morality. While this person was not very specific on 'why' they felt this was the case, I'm actually going to take the opposite side of the debate and argue that being a trader in the market IS the moral thing to do. I believe I present a strong case for how those of us who do trade are actually doing the morally right thing.
I say this a million times in the video, but I’m going to say it once more here – there is absolutely nothing wrong with being brand new and asking extremely simplistic questions. However, there is a line that exists where it becomes evident once crossed that you are simply moving way too fast than what you should be. Remember, the markets are not going anywhere, so there is seriously no need to rush. Slow down and learn. Rushing leads to being one of the many who fall into the statistical 90% category of “failed”.
While I certainly don't mean to imply that in order to be a successful trader you need an elaborate system and strategy filled with all sorts of complicated requirements; however, at the same time, finding success in the markets is not quite as some newer traders perceive it to be. Sure, the core goal needs to be to find success in the most efficient and simple way possible, but that also offers the catch-22 of viewing something too simplistically and then watching your hard earned money disappear as you are taught the expensive lesson, "it's not "that" simple". Thanks to a YouTube comment, I have a perfect example of this.
I will give this person credit for willingly accepting the fact they are a total sheep; however, that does not excuse the fact that the overall mindset here is massively flawed. Ever see the statistics saying 90% of traders fail? Well… when you consider the fact there are people like this who exist in the world of trading, that statistic becomes quite easy to believe and understand.
I recently have made another real estate investment, but this time, there are a few new twists to it. For those of you interested in how to invest in real estate, you should find this video helpful in regards to giving a real life overall view of a "fun" way to make money in real estate that is not 100% business. With that being said, come along with me and check out this new piece of dirt I've added to the real estate investment portfolio.
As basic as it may be for some people, when you are brand new and wanting to get involved in the stock market (or any financial market for that matter), one of the 'must have' tools in an actual trading account. How do you open one and then how does it function? If you make money, can you then go and spend it right away? The answers to these questions and more.
The Ultimate Guide to Finding the Best Online Stock Broker - https://claytrader.com/blog/best-online-stock-broker/
Just because you are mentally using trading terminology such as "risk" doesn't automatically mean you are approaching the market with a logical strategy. There is no better example of this than here. It's a slippery slope that I see new traders walking all the time... they have a few very broad pieces in place, but when you look closer, there are some cracks that given enough time, will without question sink the overall strategy as a whole.
If you are not aware, I graduated from The Ohio State University… so yeah, you could call me a “fan” of the football program. Given I live in West Michigan near many Michigan State University fans (who happen to be my buddies), we decided to take a road trip down to Columbus, Ohio and watch the Spartans take on the Buckeyes. To add a little fuel to the fire, we had our buddy fly in from Baltimore (you’ve met him before) to hang out with us as he is a huge sports fan. We had a great time and learned a valuable lesson about just how good Las Vegas is when it comes to “setting the stage” for sports betting.
I will give this person full respect for not being in denial about anything. They made it very clear that they were not interested in learning, they just simply wanted to make their money back. How exactly they thought this would be possible when they literally don't know what they're doing is a fantastic question, but this example goes to show that there are "attitudes" of all sorts in the market. Some of these attitudes, as you'll see here, make profitable opportunities for those of us who know what we're doing that much easier.