Is Trading for Everyone?

This was contributed by “Ingot54″a professional trader who is also one of the main contributors to “Topstocks.”

This article is typical of what you will find on “Topstocks.” Apart from hints, tips and worthwhile information there are a host of other facilities available, all to assist you towards your trading success.

Topstocks are offering a “Free Pro” account for one month at no obligation to you whatsoever. You can get there by clicking on the link provided on the right hand side of this page.

This article portrays some personal insight from Ingot54.

“I … was wondering how many people in this forum studied Economics or are a stock broker or have worked in this (trading) type of field … a lot of people aren’t necessarily involved in these types of areas of work, yet are still very active and good traders … how did you get involved in stocks?”

I have a passion for trading, but understood early on that “trading” is not for me.

I have better success in analysis and longer-term identification of stocks’ performance, but I still do feel the lure to trade.

In order to satisfy my urge to be active in the markets, I have moved to another instrument - Foreign Exchange trading - Forex (See Ingot’s articles on Forex in the Option,CFD’S Catergory)- but I am trying to keep my activity Long Term there too. Again - although the action is faster and decisive at times, long term involvement is more rewarding.

I became involved in the markets through having had good success initially in Real Estate, and turned to this in 2004 when our local RE market topped out and we took a year out to holiday/work in Tasmania.

Loaded with new cash and not wishing to have all of it “dormant” in the bank at 6.2% - we decided to investigate shares … and the gambler in me took over - I was hooked on the activity rather than the destination of the company.

I discovered www.incrediblecharts.com.au and taught myself charting on that site with the help of the charting package and the members of that forum. I continued working shift work but before work … after work … through the night … I was driven! I crammed as much into my head as I could and am still doing it.

One thing I have noticed over time … there is a sense of urgency in trading that is actually absent in investing.

If you invest … you do not miss out - on the contrary - a good stock belongs to a good company, and good companies are made/built over time by good managers. Time actually works in your favour.

It’s the difference between Fundamentals and Technicals really - and there is a powerful role for both. I should throw in the role of sentimental analysis too, as well as the role of Institutional players like our big Super Funds, who bring sectors into and out of favour cyclically.

Understanding the market forces is another passion I am developing - for example why do we move from having the Financial sector dominant to having the Energy sector dominant to having the Information Technology sector dominant etc?

I think the answer to your question lies in the individual’s response to the challenges of life. Some people will not touch stocks as a form of investing - but have a very well-developed skill in working the Real Estate market.

My response to life’s challenges - having still one son in year 10 this year and being 58 yrs old - means I have to continue to provide some form of income while also preparing for my retirement years.

It’s a challenge I thrive on … but stocks (and markets) are an instrument difficult to master, and dangerous for some who are just beginning - unfortunately there are people in this field too who will not be charitable towards new traders … it’s competitive and savage for the unwary - a challenge in itself …. as people are drawn as a moth to a flame … as a condemned man has a fascination for the axe that will soon take his head!

Keep yours … play within your skills range … and broaden those skills.



TopStocks.com.au




	
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