Hi guys, hi from Andrea Unger, is trading convenient?
This question has been often asked to me, I also discussed recently on Facebook about this and sometimes people also tell me that I say some contradictions when I talk about trading, because most often you might have noticed it, certain people who send me emails notice that, I try to keep people away from trading.
On the other side, I sell educational material for trading so you might say: “You don’t want me to become a trader but you want me to buy your material!”
It’s a contradiction, it is! Actually, it is not.
It is not because I intend trading as a very serious thing, so if you want to become a trader, if your idea is to become a trader then I think you can have some benefit in getting some education from me of course.
Education which I built based on the experience of years and years and years, mistakes and all the things deriving from real life experience in this field.
But if you look for trading just as the solution to something else, because you can’t find a job, so you will say: “Ok well, I can’t find a job I will start trading online”, or if you want some extra money : “I just want an extra income so I go for trading online”; in these cases it’s very dangerous and I try to keep people away from it.
So if you want to become an engineer, if you want to be an engineer, what you do, you go to university, you study, you build yourself and you might become an engineer after years and years of studies.
If you want to become a medical doctor you go to university, you study and then after university, after practice and after after after… you become a medical doctor, maybe the best in the world, I hope so for you, if you want to become that.
Nobody would ever imagine becoming an engineer or a medical doctor through an online course of one week, of course, you would not even imagine that if I said: “Come, subscribe to this course and you will become a medical doctor…” crazy, you are crazy! This would be your answer.
So why don’t you give that answer if somebody claims: “You want to become a trader? Purchase this online course one week, one to one trading and you will be the next ultimate successful trader!”.
Nobody says that’s crazy, nobody inexperienced, but somebody equally inexperienced in medicine would certainly say that it is crazy if the pitch was made on becoming a medical doctor.
So I believe that trading can be learned if duly studied.
So I have my material and you can get that material if you want to become a trader, because you think that becoming a trader is what you want to do, but not if you want to become a trader because you want to pay your bills or if you want some extra money or if you don’t have anything else to do.
Not finding a job is a serious problem and the solution is not becoming a trader overnight because that would be a completely wrong approach.
Motivation, motivation must be the basis of your choices and becoming a trader must be motivated as well from inside not just because you want money, money as a solution to other problems, that’s the wrong way to go and to those people or to those where they get the feeling that is the reason why they want to become a trader I always say don’t do it!
Do something else! This is not for you!
I try to be as honest as possible because it’s not about illusion.
You can get the illusion and then you get frustrated when you don’t get it.
That’s in many things of life, the problem is that in this case illusion is expensive because when you start, you test, you lose money, but if you really believe it is doable because you have been told so, when you put extra money and you lose it again and then again and you lose a lot of money in the end and this is obviously not only disappointing but really expensive and this has to be avoided.
But if you want to become a trader because you want to invest in your education, becoming a trader because you want to be a trader it’s different.
You pay for education, I don’t mean buying my material, but generally, you pay employing your time, employing your skills, employing your commitment to becoming a trader.
This is not something you can do in 30 days, the material can be packed in 30 days, I do it as well but you have to assimilate it, to digest it, to interiorize it and only then, practicing and spending your time on that material you can slowly grow up and become a trader.
There are people who go to the University and after two years quit, because they see that for example becoming an engineer is not what they thought it would be and they decide to quit, the same in trading, at a certain point in time you might notice that it is not absolutely what you thought, or you understand it’s certainly not for you.
Well, you will save a lot of money quitting at that time, quitting is not for losers, quitting, in this case, is a wise decision if you understand that it’s not for you, the same you could have done quitting university or quitting something else intended as a job as a profession.
Convenient? I’ve been doing it for years and I say it’s convenient, so if done properly it can be convenient.
Obviously the investment in terms of commitment is double, once is your time, your study and one is also the money you do need money to trade.
You cannot become a trader, you cannot trade for a living with thousand dollars.
I mean you can test you can practice you can learn with thousand dollars but when I say that 30% a year for an automated trader is really a great achievement, I don’t do that in average, so I mean it’s something that it is good, really good, then you have to realize that with 1000 dollars, if you make 30% you get 300 dollars.
300 dollars is a very cheap life if that is your annual income and you understand this.
On the other side the danger, the risks, there are risks in trading, yes in some other videos we talked about those things that happen from time to time, that the worst case scenario might delete you as a trader, might completely destroy your trading activity.
So somebody says with those risks inside the profession, that profession will never be stable.
Yes and no, I mean I’ve been facing more than one of those scenarios during my career and I’m still here, I have a very low-risk approach in trading, not in the context of course it’s another thing, but in my day by day trading it’s a really low low risk and thanks to this low risk I always survive to those happenings that would probably destroy some other activities.
So I hope that tomorrow I don’t face that great event that kills me as a trader hopefully not, I will tell you in case, but in any case risk is in anything.
When you drive to go to work you can risk your car if you are a pilot you have risk flying, so I mean, the risk is in any activity you do and it is also in trading.
If you try to face your activity with a reasonable approach in terms of overall risk, it is if you drive a car paying attention not drinking before driving, all these things you increase the chances to stay safe.
The same in trading, so actually it’s risky as any business but it is not really dangerous if you look at it in those terms.
If you look at it as an easy way to make money than you have a serious problem with risk but this is again the case when I would tell you to avoid trading because it’s something that is different from what you expected.
I hope this helps, I hope it clarifies a bit of the doubt, in case ask I will try to answer.
Ciao from Andrea Unger