You can be successful as a trader, but you don’t need to be, and in fact doing so could make you unprofitable.
For instance, if you were an avid investor, you would probably be better off investing in a stock index fund than in a futures contract and in the long run (even years down the road) less likely to make good profits.
If you invest a bit more than the market indices your returns are likely to be stronger, but if you invest in longer term contracts, you could make more money or less money in the long run.
I believe you could become a successful swing trader but there are five things you need to do to earn the respect of your peers (both financial markets traders and the general public:
1. Get a portfolio manager
If you are just beginning to become a more experienced trader, you will need to get a portfolio manager to take a lead on a trade or to be able to help you execute one.
In the case of trading futures contracts, a top rated portfolio manager could be able to trade the futures contracts at a higher cost than a typical professional trader.
If you want to get promoted to become a more experienced trader it is important to find someone to take a leading position. If you are just beginning to trade you may not have enough experience to get promoted, but getting a portfolio manager who has been around in the past (and who is respected, at least by other portfolios) is a good place to start.
2. Read investment books (and follow them)
The more money you spend on learning about investing the better the odds of success. In my opinion, all the trading books need to be read once, with a thorough understanding of the technicals. If your goal is to become a better trader read each and every book.
If you have not done so already you will learn at least one topic that will enable you to trade and that is that you will need to learn something about finance and it is very likely you will have some background knowledge, not just the technicals. The more you read the more things you can learn and you will likely be surprised by how much you can get.
3. Make time to do research
Mostly you learn a lot in school, but do not stop doing it.
If you cannot read in a couple of hours, ask a professor or a book or a forum for suggestions.
If you can not read
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