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Effectively doing your job as a professional trader, which is consistently trading profitably is much like any other high paying profession in life, in that you must know what you are doing to be effective. So, if you are going to become a 10%er.. your internal struggle becomes an ongoing growth opportunity. The 90%ers don't do what's required. Where are you?
Successful professional traders must open their minds to things that they never knew and continuously learn more about the profession. We must all evolve, rather than making the same impulsive mistakes over and over. Being unable to correct discrepancies, on a moments notice, is part of the game!
Any profitable professional trader will admit that their trading skills and mindset have evolved year over year. In fact, psychology is the most important aspect of becoming a professional stock trader, because of our ingrained emotional attachment to money (security) or trading capital. In short, your losses are your tuition and the stock market is your university. The cost of your "degree" is 100% up to you and your ability to evolve! (and obviously who you choose to follow)
Profitable Trading Professionals are passionate about trading and we are continuously learning more about the art of trading as a career. Quitting or failing isn't an option. We seek the trading wisdom of the best traders and their "magic bullet" or "magic indicator". Your trading education will teach you that there is no magic indicator, or magic bullet. You'll figure out that 98% of "indicators" are too slow, because they are lagging, behind what has already happened. You'll eventually learn that the only two leading indicators are price action and volume. We use sentiment, patterns and previous price zones to help teach us what "should or might" happen.
Put it all together and you learn that this is called Technical Analysis.
The best technical analysts are the money makers and money managers. Why? Because history repeats itself. This is "The" Game of Numbers, among games of numbers! That's what Lake Life Trading Company does. We specialize in Stock Trading and Technical Analysis. We do this to enrich lives, by helping others learn to become successful stock traders.
How do I know if I'm just "interested" in learning to trade professionally, compared to committed to it?
If you are committed, you agree to pay tuition! You understand that there is a cost of doing business in all industries of business and your funds will be paying that bill, when your trades lose.
Is the stock market rigged?
Yes!
"But it's not rigged against you. it's rigged against the 5 million wannabe day traders who trade like you!"
Why is that?
These are a few reasons.
What's my "WHY" or reason for wanting to be a profitable stock trader?
Fundamentals
Psychology
Money Management
Price Action
Volume
Patterns
Strategies
Elliott wave theory states that any asset that is trading on a chart will move in zig-specific zig zag type patterns. Specifically, Elliott Wave Theory States that price patterns emerge as up (impulse) waves and down (correction waves). For more information about Elliot Wave, visit this page.
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