Do Traders Make Money?

You tried your hands in trading, and as the first three months passed, the results did not turn out the way you had expected.

You are into stock trading because you want to make lots of money and attain financial freedom.

You tried your hands in trading, and as the first three months passed, the results did not turn out the way you had expected.

You watched some YouTube videos and once again you commenced your journey, but your emotions clouded your judgment and yet again the results were the same.

Finally, you took a professional course in trading that costed lakhs of rupees. The course talked about the Holy Grail of the trading system, but it was like a sharp bouncer that went racing past above your head, leaving you clueless. Nevertheless, after trying your hand in trading a number of times, a couple of questions popped up in your mind: 1. Do traders make money? 2. How to become a successful trader?

First of all, we will answer your question: Do traders make money?

Yes, traders do make money in stock trading. Many people have made millions just by day trading. Some of the examples of successful traders include Brett N. Steenbarger, Ross Cameron, among others.

But the important thing about day trading is that only a few make money, while the rest end up losing their money in day trading. The number of successful people is very less, even though most of the traders may have good knowledge of the stock market. Day traders do tend to lose money in some trades as no trader can have a cent per cent success rate.

So, let us now answer your second question- What does it take to become a successful trader?

Successful traders have one thing in common – they follow a system: They trade like a sniper.

Snipers are meticulous, slow and careful. When they aim at the target, they want a good hit rate. Sniping is not like machine gun firing where you keep firing all over the place in the direction of the target. Snipers are slow, steady and accurate.

You want to inculcate those sniping traits and techniques into trading to become a successful trader. And for this, you need to look for the best trading set-ups.

Furthermore, skilled traders always analyze their mistakes and trade only when their best probability set-up is available in the market. If anything goes out of their plan, they close their trade and book the loss.