Getting out of the quagmire of failure: A female trader recounts 5 important failures and lessons learned
Three years ago, I decided to quit a job with a good salary and start doing what I really like - investing and trading. This decision is not a hot-headed decision. I have a professional foundation in economics, I am tired of working full-time, I have spare funds on hand, and I am willing to take risks. The most important thing is that I hope to achieve financial freedom.
I calculated my monthly expenses and income and made a plan to change my career. The plan reasoned out that I could trade without any income for a period of time. Very early on I obtained qualification certificates 1.0, 5.0 and 7.0 from the Federal Financial Market Supervisory Authority so that brokers could recognize me as a qualified investor.
In theory, qualified investors can purchase any financial instrument on the Moscow exchange and the US exchange through a Russian broker. In fact, they are just beautiful papers hanging on the wall.
I choose to trade on an exchange. In Russia, you have to hold a qualification certificate to freely buy any tool in Moscow and the United States. So I spent half a year taking the exam. The process was so painful that I feel hard even thinking about it now. Fortunately, everything paid off, I got the qualification and finally started my trading career.
After getting all my certificates, I started counting down the days until I could make some serious money trading and set out to travel the world. However, the reality is not as glorious as the dream.
How to avoid this failure?
- Even if the terms of the contract are long and boring, read them carefully.
- Execute contracts online, which reduces psychological pressure.
- Compare terms and fee details of different broker platforms.
- Before you start trading, you must do your research and clarify your trading market and direction.
- Decide in advance which markets you want to trade. Learn about all the rates in this market. Stay focused and choose just one market to start with. Don't be greedy for too much.
Three years ago, I decided to quit a job with a good salary and start doing what I really like - investing and trading. This decision is not a hot-headed decision. I have a professional foundation in economics, I am tired of working full-time, I have spare funds on hand, and I am willing to take risks. The most important thing is that I hope to achieve financial freedom.
I calculated my monthly expenses and income and made a plan to change my career. The plan reasoned out that I could trade without any income for a period of time. Very early on I obtained qualification certificates 1.0, 5.0 and 7.0 from the Federal Financial Market Supervisory Authority so that brokers could recognize me as a qualified investor.
In theory, qualified investors can purchase any financial instrument on the Moscow exchange and the US exchange through a Russian broker. In fact, they are just beautiful papers hanging on the wall.
I choose to trade on an exchange. In Russia, you have to hold a qualification certificate to freely buy any tool in Moscow and the United States. So I spent half a year taking the exam. The process was so painful that I feel hard even thinking about it now. Fortunately, everything paid off, I got the qualification and finally started my trading career.
After getting all my certificates, I started counting down the days until I could make some serious money trading and set out to travel the world. However, the reality is not as glorious as the dream.
How to avoid this failure?
- Even if the terms of the contract are long and boring, read them carefully.
- Execute contracts online, which reduces psychological pressure.
- Compare terms and fee details of different broker platforms.
- Before you start trading, you must do your research and clarify your trading market and direction.
- Decide in advance which markets you want to trade. Learn about all the rates in this market. Stay focused and choose just one market to start with. Don't be greedy for too much.