Profile of a Master Trader - The journey to your Financial Freedom

Updated: Jan 18

Trading, Stock Market, Options, Puts, Calls, Nasdaq, Dow Jones... are you afraid? Take it easy, these are only words, and you can easily understand their meaning if you just take some time and open your mind.


Do you want to know why most people lose their money trading the markets?


This is because they got the wrong attitude focused on playing and excitement. This is the approach play and pray and it is the correct way if you want to fritter away your hard-earned cash.


Professional traders don't do trading this way!


Below I want to outline some tips which can help significanlty in your journey to financial freedom and take you to become the next master trader.




Master Trader Rule 1 - Protect your hard-earned cash


Trading is a business! People who don't understand that and get into the market will be the fishes that professional trader were waiting for. At first, luck can help to earn some money simply because the overall market is expanding and rising, but after that you may lose badly if do not invest on yourself and on how to create and handle a portfolio.


In fact, financial markets can be very severe with beginners who enter into the market without the required knowledge. They will certain lose all their money and then will be once and for all out from this fascinating world. If you don't want that, start asking yourself if you are truly aware of what you are doing and what your goals really are

.

The journey to become a Master Trader can be long as it takes time to build up knowledge, understand your own personality and how you behave dealing with stress-inducing matters. During this time, you must protect your money. If you throw away your capital, you may not have a second chance to trade the markets in the future.


How To Become An Option Trader


Master Trader Rule 2 - Understand your personality


What I like about trading is that is a picture of life. We all live in a big and awesome game called "life". Life is wonderful but is not easy; it's not easy to know what is right and what is wrong. We all have to deal on a daily basis with people who have different beliefs, perceptions, expectations. Life is the most beautiful and difficult journey that we all have to face and the ones who eventually achieve the pursued happiness are the ones who are able to deeply look into themselves and overcome their fears.


Trading works in the same way and that's why I love it! Becoming a Master Trader means heaving the bravery to struggle against the demons that live within you. It entails looking through your own personality and understand what you really want from life, what counts the most and the least for you, what are your priorities and what are your deepest fears.


Have you ever looked into yourself? If the answer is not, please start right now!


Look around you! Nowadays, you can easily see busy people everywhere. Perhaps, you are one of them like I used to be. You have plenty of activities and meetings scheduled all over the week and you don't have any time to look within yourself.


Have you ever wondered what you really want from life? What should you do to achieve what you want? Fortunately, I did, and I was astonished by what I found out about my beliefs and my personality.


Stop running and decide today to give you some time to think for yourself and answer your questions.


Trading is all about understanding your personality and the way you act. If you want to be a Master Trader, start today mastering your own life and taking responsability. Face your fears and start making decisions.


The psychological aspect of trading is the most important and also the most overlooked. It is something that can help you improve your life as a whole, your relationships and the results you get.


Remember: trading is 80% psychology, 20% knowledge and technique.


If you take care of the psychological aspect, then it will be easy to learn the techniques needed to master the financial markets.


Trading Financial Principles


Master Trader Rule 3 - Build up your knowledge


As I said before trading is a business, and as any other business there are rules and strategies that govern it. Here it comes the second aspect where many people fail when trading.


Newcomers believe they can invest money in the stock markets without having any knowledge whatsoever. It is considered like a game: money is simply invested because you have a certain belief or because your best friend suggested you that. If the stock rises you win, if it drops you lose. It is as it was not your business.


But it's not true! You are investing your savings and you must be in control of it!


Trading and the markets are like a science. You must truly understand all its logics before getting in. Think about that. You would never think to be a doctor without studying medicine or be a lawyer without studying law. In the same way, if you want to be a Master Trader and make a living out of the financial markets, you must study hard. And you need to be aware that most of the time you will be on your own because there is no school that teaches you how to invest.


Markets are like a psychological war where only the well-prepared minds can survive and eventually win. Before trading, you must study how to read charts, how to enter, manage and close positions, money management rules, how to manage your portfolio and much more. Nowadays there are many private seminars, webinars, loads of books and many sources on the internet that can help you develop the knowledge you need.


It's hard work, but the rewards can be huge!


It's worth trying to master yourself and then the market. But you must be patient and never be in a rush. Give yourself time and study on a daily basis. Be persistent and never give up. Open first a paper money account and do lots of practice and back testing without investing real money. Trust me this works as it was real and will help you be successful in the long run.


Happy trading!