Can stock trading help you reach financial independence?

Team Veye | 19-Oct-2020 stock trading

Most of the people view the stock market as a kind of hobby only. On the contrary, if you have ambition and patience and approach it in a right manner it could become a good career opportunity. By working part time or full time it may even lead to early achievement of your retirement goals.

While we talk of approach, it is common knowledge that nothing succeeds without preparation. Same is true with the stock markets where one can come out winner by having the right mix of method, discipline, consistency and self belief.

Method comes with Education. A Trader needs to focus a lot on education to be really successful in trading. Information and experience are the best educators. Education in the stock market not only puts you on right paths but guides you in avoiding the pit falls.

The method guides you in building a strategy. It is not just devising a strategy but also having it back tested. Historically, such strategies have often produced good profits.

A strategy executed with discipline is just like having a cherry on top. Whereas even a very good plan without discipline is capable of negating the whole strategy.

One needs a consistent set of actions to be a consistent trader. If you consistently follow your rules and trading plan, then you’re going to have a consistent trading performance. Consistency is the hallmark of a good trader.

And above all you must have belief in yourself. Once you start thinking that you can achieve financial success in the stock market it forces you to take a plan of action and stay results driven.

Last and Most Important thing, is to remain grounded always and never show off. Just remember there is always a trader better than you, so learn to remain a learner in the market.

Disclaimer

Veye Pty Ltd(ABN 58 623 120 865), holds (AFSL No. 523157 ). All information provided by Veye Pty Ltd through its website, reports, and newsletters is general financial product advice only and should not be considered a personal recommendation to buy or sell any asset or security. Before acting on the advice, you should consider whether it’s appropriate to you, in light of your objectives, financial situation, or needs. You should look at the Product Disclosure Statement or other offer document associated with the security or product before making a decision on acquiring the security or product. You can refer to our Terms & Conditions and Financial Services Guide for more information. Any recommendation contained herein may not be suitable for all investors as it does not take into account your personal financial needs or investment objectives. Although Veye takes the utmost care to ensure accuracy of the content and that the information is gathered and processed from reliable resources, we strongly recommend that you seek professional advice from your financial advisor or stockbroker before making any investment decision based on any of our recommendations. All the information we share represents our views on the date of publishing as stocks are subject to real time changes and therefore may change without notice. Please remember that investments can go up and down and past performance is not necessarily indicative of future returns. We request our readers not to interpret our reports as direct recommendations. To the extent permitted by law, Veye Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss, or data corruption) (as mentioned on the website www.veye.com.au), and confirms that the employees and/or associates of Veye Pty Ltd do not hold positions in any of the financial products covered on the website on the date of publishing this report. Veye Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services.

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