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Don't Quit Your Day Job (Yet)

Learn it all in one email lesson
Most people are very kind with their email. They will ask a question or two or make a comment or ask for a quick critique on a trade.  We hear from some more than others and there are many 'one timers'. Every once in a while we get THE email the one that asks can you teach me how to trade'

They want us to teach them a lifetime of trading tactics in one email and they want it now.  They want my answer to their email to unlock all the doors to success and enable them to trade like a pro when the opening bell sounds tomorrow morning. Some have even said I need to be trading well by Friday because I quit my job this week and I'm trading for a living starting Monday morning or something similar to that.  I cringe when I read emails like this.  While I am extremely flattered that some people think I can write a paragraph or two that would change their life it just does not work like that.  Believe me I wish I could do what these people are requesting.  I really want to help them be successful but I cannot do it in one email.  Unfortunately it points out how many people think trading for a living should be: It looks so easy so it should be easy. I should be able to be learned it quickly.   

From all walks of life
Our membership includes a diverse group of people in all walks of life.  We have doctors lawyers airline pilots photographers collage students members of the military small business owners stay at home moms ect ect.. All of which have primary jobs and trading to them is part time work.  I would never advocate for anyone to give up their profession to become a stock trader until they are reasonably confident they can support themselves and their families with their stock trading gains.  Trading takes months to learn and years to perfect; it is not something we can teach over night or in one email.  Everyone should seek to learn and perfect stock trading on a part time basis while still concentrating on their primary way of making a living much like a collage student balances their studies with a part time job on campus. 
Your Income is Your Wealth
I look at it like this.  Your primary means of wealth and security is your income.  That steady cash flow each month allows you to support your family and provide you with extra income to trade stocks with.  If that primary income stops because you quit your job to start trading then you have to make all that income up with your trading.  That is a lot of pressure to place upon yourself.  Before you quit your current profession and switch to becoming a professional trader make sure you are a professional trader. In other words make sure you have accumulated enough capital from your primary source of income and you know how to manage that capital on a daily basis in the stock market.  I would love for all our members to become professional traders someday but I would never advise anyone to do so before they are ready.  Your income is your life line whether it comes from stock trading or another profession and you cannot give that income up until you know for sure you can replace it. 

There are many professions and working hard in any of them is likely to guarantee you great success. Trading for a living is no different from any other profession.  It takes an ambition to learn and succeed.  Only education time experience and discipline will make a person successful in any profession.  No email reply can do that for anyone.

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