Trading is easy money? Is this true? It can be. But only for a short time, and only with luck on your side. When someone gets lucky with trading, it’s easy to believe that it is skill or perhaps that they’ve found the perfect trading strategy. It’s easy to fall victim to the trap of believing that you will continue to win over, and over, and over again. It is this belief of the ongoing, continuous earning of “easy money” that we will discuss in this episode.
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Easy money is something we all want at some level. And it is because we want it so badly, that many traders will focus in on the one winning story while ignoring the ten other easy money horror stories.
Getting one big payout is rare, unless you win the lottery.
I’ve tried many of the “easy money” methods like network marketing, flipping houses, building houses on speculation, rental real estate, owning and operating multiple businesses and trading. I wouldn’t call any of them easy. Especially the trading.
What sets trading apart from the other “easy money” activities is that it is probably the easiest to execute. You don’t need to recruit, rehab, build, manage contractors or supplies or people. You just need money, a computer, and a broker. Easy peasy….or is it?
It is almost too easy to trade.
Trading can provide a quick profit for a lucky few in the short-term but most of those traders will eventually lose that profit and more unless they put in the time, money, and effort required to learn the principles of being successful long term.
The goal of the Trading Performance Podcast is to help everyone to gain important insights into the stock market and how a trader can improve their performance in it.