FOREX trading is fast becoming a career alternative for many individuals, as it should. It offers flexible hours, work from home option, and high income potential.
The reality?
Trading is like any other business. Did you know that 90% of all new businesses fail? The failure is typically based on just a few reasons - under capitalization, lack of a sound business plan or inexperienced management. Any one of these can cause a business to fail. However individuals still pursue business ownership.
The same holds true for trading. A trader may fail because of the same reasons - under capitalization, no clear trading plan, poor management skills, lack of discipline.
What is the right way to succeed?
Find the correct trading methodology. In other words, work off of a successful business plan. The reason new business owners are willing to pay additional dollars for a franchise is because a franchise offers a tried and true business plan.
The novice business owner with little or no experience who tries by trial and error will, statistical speaking, fail. So holds true for the novice trader who tries to develop a trading methodology with zero knowledge and experience. Did you know that most people believe they will become successful traders by using free information obtained off the internet? Trading is simply a discipline. Learning a discipline requires a specific process. Having access to a coach or mentor is critical.
With easy access to the necessary technology, FOREX trading offers a rewarding, lucrative income alternative for any individual. In comparison to brick and mortar business ownership, the start up costs are minimal. The key to success is correct training, planning and preparation.
Steve is a seasoned professional investor/trader with over twenty years of experience in the equities, futures and FOREX markets. Steve started his career as a registered representative directly out of college in the late 80's. As the Internet, online execution platforms, and technology advanced, Steve shifted his focus to e-trading. Realizing the need for individuals to be able to manage their own financial goals and not be an employee of their broker, Steve has been a pioneer in the online trading and education field. Having been an instrumental participant in the start up of what are considered some of today's leading companies in the online trading industry, Steve believes that the new leading edge companies of the financial industry will be organizations that empower the individual via training and technology to become a professional trader. That is the mission of The Trading Institute. Visit http://www.TheTradingInstitute.com
Article Source: http://EzineArticles.com/?expert=Steve_Rising
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