This might not win me friends but it must be said…
Not everyone is meant to be a trader. Yup, you read me right. Not everyone is meant for trading.
Because trading involves risk and not everyone can embrace risk in the same manner.
Here’s a true story…
When I was studying in polytechnic at 18 years old, I owed John (not his real name) 10 cents for a reason I can’t recall.
To most of you, it’s only 10 cents and you probably would forget about it — heck some of you might even tell me to keep the change.
But no, not for John.
He pursued me high and low for the 10 cents, pulled the collar of my tee-shirt, and strongly demanded…
…for his 10 cents (or there will be blood, ok I’m kidding the blood part).
But you get my point.
And yes, I should have quickly returned the 10 cents as it’s morally right to do so.
Clearly, John isn’t someone meant for trading because the pain of losing money hurts him too much.
Now you’re probably wondering:
“How do I know if trading is for me?”
For starters, you must be comfortable with risk-taking.
If a small loss bothers till you can’t sleep at night, or you keep thinking about it the whole day, then trading is probably not for you.
And there’s no shame in that because not everyone is meant to be a trader. Just like how not everyone is meant to be an entrepreneur, an employee, or an Olympian.
Now, here’s the good news…
Just because you quit trading doesn’t mean it’s for good. You can always come back when you’re ready as the market is always around.
So here are a few things to help you get back on track…
1: Pay off your debts
You want to start at ground zero and not put yourself at a (psychological and financial) disadvantage.
So, pay off your credit card debts, the money you owe others,