http://www.netpicks.com/tjgiveaway1 - YOUR FREE TRADING SYSTEM When you’re looking to master a new skill like trading, it’s only natural to see whether you can benefit and accelerate the learning process by learning from someone who has already been successful. There are of course no shortage of educators out there in the world of trading. But there are also many potential obstacles to learning to trade in this way. Let’s take a look at 5 perils of learning from other traders. See more at: http://www.netpicks.com/5-perils-of-learning-from-other-traders/

2. When you're looking to master a new
skill like trading, it's only natural to see
whether you can benefit and
accelerate the learning process by
learning from someone who has
already been successful.

3. There are of course no shortage of
educators out there in the world of trading.

4. But there are also many potential obstacles
to learning to trade in this way.
Let's take a look at 5 perils of learning
from other traders.

5. Great Trader. $%%^ Teacher

6. Just as not everyone was born to
trade, not everyone was born to teach.
And of course, there are far fewer who
were born to trade and teach. So of all
those educators out there, there are
plenty who don't have both of these
skills.

7. They can be good at what they do
without being good teachers.
Dropping a ton of information on
people without helping them to
understand it or show them how to
apply it for example, isn't likely to
achieve the desired results in many
cases.

8. Statistically, there will always be some
who make it anyway, but it's not
always easy to predict who those
people will be.

9. It's easy to fall into the trap of
believing to some extent that you are
special or different and that you are
the 1% who will make it.

10. But realistically, it's far better to find a
path where if you are successful,
you're part of a larger group.

11. High Capital Requirement

12. When someone wants to buy a
system, the fact is that they are
probably not at the "scaling up your
business" phase. In many cases, they
will have a restricted level of risk
capital which they are able to commit
to their trading business.

13. But successful systems come in all
shapes and sizes. Not infrequently, an
educator might have been in the
industry for a while and made a fair
amount of money already. So the
same levels of capital restrictions
won't apply to them. But is this
something that they remember?

14. Well not always.

15. And for someone who is still learning,
this might not be especially obvious
either.

16. So it's incredibly important to assess what
an adequate amount of trading capital
really is if you are going to follow someone
else's methodology or system.

17. Unrealistic Time Needed

18. I'm not saying that the amount of time
to trade a strategy is unrealistic - there
are traders who sit down in front of
their screens and trade for the best
part of an entire session each and
every day. But if this isn't something
you have the time for, then it is
unrealistic for you.

19. The time constraints of someone
transitioning to trading from a
traditional job mean that if you have
to commit a decent amount of time on
a daily basis in order to be successful,
it's going to be extraordinarily difficult
to make it.

20. When so much is going on in your
work and life, the overbearing strain of
a demanding trading routine means
that when things become tough, your
staying power will be challenged and is
quite likely to fail to some degree. The
daily grind becomes too much and
something will have to give.

21. So it's essential to be realistic about
how much time you can give to trading
if your life were to stay the same or
even get busier (for example if you
were to get a new job, take on a big
project, move house, get married,
have a child.)…

22. if of course you don't immediately find
success and then work out whether
you will still have enough time and
energy left to trade the strategy you
are currently looking at.

23. Incomplete Picture

24. Like a painting that's half covered up,
an education which is only focused on
certain aspects of trading will not tell
you the whole story and leave you
feeling unsatisfied.

25. There are many parts that make up a
robust strategy which stands a far
greater chance of achieving ongoing
success in the markets. However, there
are plenty of educators out there who
concentrate on showing you just a
fraction of what is truly required.

26. Inevitably, although people who are
missing pieces of the trading puzzle
may find short-term success,
ultimately they are likely to struggle
and over time, they'll need to fill in the
gaps in their knowledge and skillset.

27. Again, not everyone was born to trade.
But many people are drawn to trading
by the intoxicating mix of the potential
for great riches, the satisfaction of
being your own boss and the great
challenge of making a success of it
(and the self-satisfaction that this
success could bring).

28. Even if people do have the mental and
emotional abilities necessary to find
success, what they often are not ready
for is having the markets unequivocally
demonstrate that there are things that
they are simply not very good at.

29. This of course becomes all the more
difficult to take for those who have
already experienced some degree of
success in their careers - whether or
not they consciously recognize what
they have achieved as success.

30. A big part of why Netpicks systems have
frequently been so well received is that
they are designed to accommodate a wide
spectrum of traders.

31. There are longer term strategies,
swing trading systems and day trading
methods and each of these can either
be traded at minimal level or scaled up
to represent a more complete trading
business.

32. They are in many respects, straight
forward to trade and yet can be
tailored to take into account rather
more complex rules.

33. Wherever you start your journey as a
new trader, it's at least as important to
assess how appropriate the education
or system is to you as it is to see how
successful the educator or their system
has been.

34. The one thing that you will never get
back in this process is your time, so
make sure that you use it wisely.