Читать книгу Currency Trading For Dummies - Kathleen Brooks - Страница 13

Speculating is all about taking on financial risk in the hope of making a profit. But it’s not gambling, and it’s not investing. Gambling is about playing with money even when you know the odds are stacked against you. Investing is about minimizing risk and maximizing return, usually over a long time period. Speculating, or active trading, is about taking calculated financial risks to attempt to realize a profitable return, usually over a very short time horizon.

To be a successful trader in any market requires

 Dedication (in terms of both time and energy)

 Resources (technological and financial)

 Discipline (emotional and financial)

 Decisiveness

 Perseverance

 Knowledge

But even if you have all those traits, there’s no substitute for developing a comprehensive trading plan (see Chapters 6, 10, and 11). You wouldn’t open up a business enterprise without first developing a business plan (at least we hope not!). So you shouldn’t expect any success in trading if you don’t develop a realistic trading plan and stick to it. Think of trading as if it were your own business, and approach it as you would a business enterprise, because that’s what it is.

Above all, try not to take your trading results too personally. Financial markets are prone to seemingly irrational movements on a regular basis, and the market doesn’t know or care who you are and what your trade idea is.