First, and foremost I believe no matter how much starter money one has to trade, he needs to have an inexpensive experience. I say, inexpensive trading experience for the development of confidence takes time.
Thus, I always recommend traders to trade fx products that have no expenses tied to the execution screen, cost of trades, and charting services.
Furthermore, when trading these products today, it gives an individual a reasonable chance to succeed because of the trending of the currencies and the inexpensive tick value(as low as a $1.00 a tick). If what I just said needs explanation, please call me at Dowd-Wescott 312-604-6061 in Chicago.
No matter, who explains electronic trading to you, the new trader (this includes former floor traders) must realize that to become a successful screen trader will take time. See my stages of trading to understand the value in making trades and the value in experiencing & handling losses. Trading today is not an "immediate gratification" game. To become a big time winner and earner as a trader, one is going to need thick skin, an ability to be resilient, the courage of a lion, and the stick-to-itness of a man on a mission of passion.
About Me
- Mickey Hoffman
- Chicago, Illinois, United States
- Dr. Mickey Hoffman, a registered trader and broker with the National Futures Association, is a 30 year member of the Chicago Mercantile Exchange. In 1992, he founded the University of Trading for the sole purpose of introducing students to the career of futures trading. His extensive background in education and trading enables him to provide his students with an experience that is truly unique. Dr. Hoffman was a successful high school and college athlete, high school teacher, head coach, vice principal and summer school principal . His experience as a trader, broker, teacher, futures and options firm owner and author enable him to teach, counsel, and guide inexperienced students and experienced traders. Mickey enjoys working with new students as well as those who who are having a difficult time trading. Many have called Dr. Hoffman a "LIFE COACH"!
