What you Should Learn Before Day Trading

business and family day trading entrepreneurship investing startup life work life balance Nov 29, 2021
What you Should Learn Before Day Trading

At some point or the other in our lives, we've all been intrigued by trading, stocks, and crypto. But as intricate as this world may seem, it is on the flipside quite interesting and fun. As Rod Cassili famously said about trading, it is not for the dabblers, the dreamers, or the desperate. It requires, above all, one steadfast trait of dedication. Day trading specialist Roland Brown spoke about his trading evolution in a candid conversation with Ambition Phillips, and here is what you need to know.

Learn before you Earn

We are at times too desperate to enter the market without properly understanding the nuances and small nitty-gritty of it. Such endeavors almost certainly end up leaving you bankrupt. While stocks can be fun, and an effortless way of earning, a decent amount of dedication is needed to understand their modus operandi. Learning about the stock or crypto market should be the first thing on the bucket list of any aspiring trader.

Involve your Families

Trading can be a hectic exercise. At times, it engrosses a person so deeply, that they forget to cater to their families, friends and peers. Roland attributes his success in trading to his family, especially his wife and son-in-law, who've both been active participants in all his trading endeavors. This creates a tangible work-life balance, and you never feel deprived of family attention, care, and love.

Expedite life-changing decisions

Whether it involves leaving your current job or taking a bold step, always foster life-changing decisions. Muster the courage to make such moves. If it's difficult to do so, at least create a conducive environment around you to take such decisions. But such moves have to be intelligently thought out. When Roland was thinking of entering the trading market, he was met with a world of uncertainty. But of all the options available, he chose to educate himself. He dedicated himself to learning the craft, while he was already on a 9-5 job. Roland created an environment for him to succeed in the market and then went into it all-guns-blazing. He studied continuously from nighttime till 3-4 in the morning. Determination, dedication, and hard work are the keys to success, not just in the financial world, but in every walk of life.

Build Communities

When you have 100 people on board, they would be able to perceive things in 100 different ways, give 100 different opinions and offer 100 different solutions. This will facilitate the growth of your organization, and the collective setting of stronger goals. Take capable people on board, and strive to grow together. Delving into trade markets can prove to be quite fruitful, given a person is willing to sacrifice and learn everything he has to about the craft. We all know Bill Gates for the philanthropic billionaire that he is, little do we know that he reads hundreds of books every year. So, the takeaway is simple. Learn before you earn.

 

If you want to check out the full podcast episode CLICK HERE

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