QUALIFICATION FOR STOCK TRADING

1ST:KNOWLEDGE

First and most important:You must get knowledge.
Make up your mind to spend thirty minutes to one hour per day studying stock market movements for the next five years.Then you will get knowledge of how to detect market trends and will make money.You will not be looking for a quick and easy way to make money.You will have paid in advance with time and study.The more time you put into getting knowledge,the more money will make later.

2ND:PATIENCE
This is one of the very important qualifications for success.When you buy or sell you must have patience to wait for opportunities to get in right.Then,you must have the patience to wait until there is a change in trend before you close a trade or take profits.

3RD:NERVE

I can give a man the best gun in the world and if he hasn't the nerve to pull the trigger,he will never kill any game.You can have all the knowledge in the world and if you haven't the knowledge to buy and sell,you cannot make any money,but Knowledge does give a man nerve;makes him bold and enables him to act at the right time.

4TH:GOOD HEALTH

After you have gained knowledge,acquired patience and developed nerve,the next important quality is good health.No man can have patience and nerve and do his best unless his health is good.If you are in bad health,you become despondent,you lose hope,you have too much fear and you will be unable to act.The thing to do if your health gets bad is to quit business,quit speculating and get your health back,for health is wealth.

5TH:CAPITAL

With all these qualifications for making success,you must have capital,but if you have knowledge and patience,you can start with a small capital and make a lot of money,provided you use stop loss orders,take small losses,and do not overtrade.Remember,never buck the trend:after you detect the trend,go with it regardless of what you think,hope or fear and you will make succes.