Three Myths of Stock Trading

By W. Alan Gay

I've been a Stock Trader for over 15 years, and know the business inside and out. I didn't start at a fancy brokerage firm with sophisticated training courses. Instead, I made my success my own way, failing here, tweaking there, using seminars and self taught classes to learn what I needed as I went.

While my self taught training may have resulted in a slower success, I know a lot more about the real world of stock trading than a lot of those investment advisors out there who only know what their employer told them. One thing I have discovered over the years is that there are myths that continuously recur when talking to people about stock trading. Here are three of them:

First, is the myth that only certain types of people make successful stock traders. True, those folks who can analyze stock trends and pick the big winners are typically left brained thinkers (more than 60%), which is probably how this myth originated.

But there really is something in stock trading for every type of thinker. If you aren't a left brained analytical type, you just need to find a process that works well for you. I am definitely right brained, and I am being completely honest when I tell you I would hate to sit around and analyze stocks all day. Despite this, I have made a great living trading stocks. Anyone else can too.

Second, is the underlying belief that stock trading is risky, even riskier than owning your own business. True, people have lost their shirts in the stock market, and those are the big splashy stories we all hear that frighten a lot of people away.

But I have learned that if you have the right process in place for setting your stops and limiting your risks to a level that you are comfortable with, it can really be a very low risk profession. For example, I have created a system for myself that allows me to trade with a 75% or more success rate, which is fantastic! I know of no other business that can give me that kind of low risk situation.

And finally, how often do you hear that its a full time job to really make money at stock trading? I believe that is true for some kinds of trading and if you are forced to do the leg work analyzing and picking stocks in a fast paced environment it really does take a lot of time.

However, rest assured it is possible to make a full time living trading stock for 2-4 hours a day. What you do with the rest of the day is up to you! The trick is to find a process that meets your comfort level of risk and is very efficient with your time. There are a lot of courses available and I agree it can be intimidating to find the one that's right for you. Investigate several choices and make sure to ask lots of questions before signing up. If you don't get satisfactory answers to your questions, move on fast, customer will not improve once they have your money! If you research your options knowing the right process is there for you, you will be on your way to success at stock trading before you know it. - 23204

About the Author:

W. Alan Gay has been a stock trader and trainer for fifteen years. His free report describes Alan's voyage to becoming accomplished at trading stocks and gives useful tips he and his students have used to consistently trade profitably. Click to obtain a free copy of his report and learn more about how you could be a profitable stock trader in as little as fourteen days.