As is with anything in life, fearing the unknown is debilitating. It controls us and can be paralyzing. Most importantly, it disenfranchises our ability to make sound decisions that otherwise might prove to be fruitful endeavors.
These same fears that cause us hardship in countless life decisions also apply to trading in Forex, Stocks, Options, and Futures. For many, thinking about putting up their own, hard-earned capital seems daunting to say the least. Questions like, am I really smart enough? Do I have enough capital to invest? Or how many hours do I really need to invest in to become a successful trader are just some of the insecurities people have, preventing them from creating a decent, if not high volume of income in the market. Thomas Yin, a trading and educational expert, has answered these questions and more. He refers to them as the “myths of trading” and offers some compelling experiences to what is holding people back from capitalizing in today’s financial markets.
Yin has been able to identify a handful of “myths” that are the key to overcoming the fears of financial trading. It all begins with thinking you are not smart enough. For many, the illusion is about the professional trader holding a certificate or piece of paper above their desk. This is an indicator that someone has invested years of studying the ins and outs of trading. Without possessing that degree than “this little voice says that we’re not good enough,” explains Yin in his book, “Trading Secrets.” But the reality is what is really standing in the way is self-doubt.
The second myth many see as a roadblock to successfully buying and selling are they have to have large amounts of capital on hand to do so. The truth is, Yin has proven that this is not the case. In what can best be described as a social and economic experiment he began working as a real-estate agent just to raise the “big bucks” needed to make sizable gains. As Yin describes, “In 2008 to 2009, within two years, I made more than half a million dollars just working my butt off being a real estate agent. By the end of 2009, I told myself, finally, I had enough capital (to invest).” So, what was the result of this venture? Investing $240,000 and losing more than half of it to the markets.
If you are like most hard workers out there than you know you have questioned your available time. This is where the third myth comes into play. Yin divulges in the misconception that hours upon hours of time are needed to follow financial news outlets, interpret the numbers, and how to apply economic fundamentals that can work with or against your decisions. But the fact of the matter is, some trades can take mere minutes to successfully execute. While he does not want to oversimplify the process, the point being is profits can be turned with reasonable research and proper stop measures in place. “This is not a 9 to 5 job” as Yin puts it. With this way of teaching, Thomas Yin is helping analysts, fund managers, brokers, and working professionals from all walks of life. From his pillar of “Trade Psychology” to these brief misconceptions on the “myths” of trading, Yin is forging a whole new way of profiting from all types of markets. To learn more about Yin’s teachings and how you, yourself can financially benefit be sure to visit his website at https://www.onlinegurutrader.com/.