Overstaying your Welcome in the Market
Imagine hosting a house party. You spent a lot of time organizing and making sure there’s enough food and drinks. Everyone’s having a blast!
Then you look at your watch and it’s almost 2am. Most of your friends left, but there’s one couple left and they are annoying! All of the booze you provided for the party is gone, but this couple asks if you have any more. You hint that it’s getting late, but they pay no mind. They know that you have a private liquor and wine section and start opening that bottle of wine you’ve been saving for a special occasion!
So you take the bottle of wine back and kick them out! Angry as hell, they cause a scene before leaving.
We’ve all been there, and this is what we call overstaying your welcome!
Let’s image that you (the host) is the market and those rude guests are the traders. Yes, the market is open for a certain period of time, but you can certainly overstay your welcome and also get kicked out (aka losing your trading account)!
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Don’t be those rude guests trying to eat all the food and drink all the booze before everyone else! A prudent guest at a party is considerate, always gauging the hosts attitudes and interacting with them. The same should be done as a trader in the market.
Unfortunately, 90% of traders are those rude guests at the party! Trying to consume too much than they deserve.
Traders, the point here is to use the market as your guide. Judge the action and get a feel of the market and trade accordingly. This is easier said than done, but most don’t even think about this.
Let’s take a look at examples of how to NOT overstay your welcome in the market with the current conditions:
You’ll need to understand a complete strategy to survive the market, an understanding of how to read technicals, have sound trading psychology, and solid personal routine.
Luckily, all of this is taught within my 90 Day Fous4 Program. With 30 hours of on-demand courses, 3 days a week mentoring, and FOUSim a real-time simulator where we can see and improve your trading skills together.
Want to learn more about how to get started? Well first, it’s not that difficult. You mentor with me and my team first. Worry about all the brokers, software and capital later!