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Swiss vs Kosta Rika Live Streaming
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Swiss vs Kosta Rika En Vivo Online
En Vivo Swiss vs Kosta Rika
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Swiss vs Kosta Rika diretta
Swiss vs Kosta Rika direct
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Swiss vs Kosta Rika Live Stream
Swiss vs Kosta Rika Live Streaming
Swiss vs Kosta Rika En Vivo
Swiss vs Kosta Rika En Vivo Online
En Vivo Swiss vs Kosta Rika
Swiss vs Kosta Rika en direct
Swiss vs Kosta Rika in diretta
Swiss vs Kosta Rika diretta
Swiss vs Kosta Rika direct
Swiss vs Kosta Rika ao vivo
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Myth: You need a lot of money to stand any chance at making money in the market
Truth: You don’t have to have a lot of money to start, a good trader can make money regardless of account size…
Often, traders believe that to succeed at trading they need a big trading account. But, this is simply not true. IN fact, you can lose money on a big trading account just as fast as you can on a small trading account. It’s best to start with a smaller account even if you have a lot of money to trade with. Will a large trading capital reserve allow you to make more money faster? Sure. But, fi you don’t know what you’re doing you can also lose that money faster.
The strategies, skills and mental attitudes you need to succeed at trading will work on a small account the same as a big account. It’s always best to start on a small account and hone your skills, then when you’re ready you can deposit more money if you have it or just keep building that small account.
Don’t be in a rush! If you build a track record of successful trading on a live account, even a small one, you will be a successful trader. Building a successful live account track record over a period of a year or more is something that FEW people can do. If you do that, even on a small account, your success will start to snowball.
Myth: You have to know what is going to happen next in a market to make money.
Truth: You don’t have to be right or know what will happen next to make money, you must understand that you can never know for sure what will happen…
One huge myth about trading is that to make money you must know what will happen next. This couldn’t be further from the truth and in fact, it’s not even possible. Part of trading is that there is a random expectation for any one trade you take. Meaning, any individual trade, looked at in a vacuum, so to speak, has essentially a random outcome. This is because there are thousands, maybe even millions of variables affecting a market at any given day at any given time. As a result, a trade really can go either direction, even if you believe you are 100% right about it.
Where your trading strategy or trading edge comes in, is that over-time, given enough trades, if you follow your strategy with discipline, it will play out in your favor. Most trading edges or strategies are simply taking advantage of repetitive market patterns or price action patterns that form because of repetitive human interactions with the market. So, whilst your trading edge might have 60%-win rate, any singular trade has essentially a 50/50 chance of working out. So, don’t start convincing yourself “I’M RIGHT!” about your next trade because you’ll start risking too much and getting too emotionally attached to that trade, which is a recipe for disaster.
Instead, realize and understand that there is something called a random distribution of wins and losses, which essentially means what I described above. For any given trading edge or strategy, over time and over a large enough sample size of trades, that trading edge will show a randomly distributed pattern of wins and losses. So, whilst you do need confidence in your trading ability and chart reading skills, you cannot afford to becoming convinced you are ‘right’ about any one trade and you must always remember that ANY trade can be a loser. For more on this topic, checkout my article on trading legend Mark Douglas.
