It is the dream of every trading starting out to work at home, blow away their income, buy houses, cars and travel to exotic destinations. We can dream right?
Then cruel, harsh reality starts to set in when we all realize that trading isn’t as easy as we thought, or perhaps we were promised.
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As the dreams come crashing down a new reality takes hold. We find that from this initial false promise there’s a new wave of traders who realize it’s still very much possible to pursue this dream – perhaps a bit modified in expectations of course! Most people in this situation are ready to put forth the time and effort but likely are starting with a smaller account. Perhaps this describes you? It’s easy to trade with too much leverage and try and make home run trades every time you buy or sell but that turns trading into nothing more than a Las Vegas experience – entertaining sure – but ultimately doomed for failure – just a matter of when.
Instead, we suggest you follow a very specific, very proven plan to build up your trading account over time. You absolutely must avoid certain futures markets in the beginning (S&P e-mini, Dax Futures, Crude Oil Futures) and avoid day trading most forex pairs (yes the EURUSD is to be avoided initially) and follow this method. The reward? You’ll fairly quickly get to a point where your trading account will enable you to start trading more position size – but take no additional time per day doing just that. See how we do it here: