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Are you (really) ready to be a professional trader?


Are you (really) ready to be a professional trader?

Paulo Rebelo’s Chronicle for “Remate” magazine (issue No 3) 28 January 2012. Another Paulo Rebelo’s chronicle fills the center pages of the first Portuguese magazine targeted to Online Sports Betting.

“This chronicle addresses the difficulties that every professional traders cross. It was made based on a suggestion left the thread that I created in our forum to discuss this magazine’s articles.”

Are you ready?

The media interested in my professional success and in the good life that I have all thanks to the bets. It’s a reason to be on the news that someone can live from the earnings he has in something that was supposed to be pleasure.

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However, many times it’s passed the idea that in the betting world the success is granted and easy to reach. I’ve always said it otherwise, and I emphasize that not everyone will win money in betting and even less will be able to live exclusive from the earnings they have in betting. Anyway I encourage people to try, because only if you try you will know if you’re good or not.

The beginning is always rough but when I started it was even harder. Today, whoever wants to try can join online betting communities (forums) where there are lots of information and help available. Now you have the certainty that if you have inborn skills and if you put enough dedication into the area, you’ll see your effort paying the profit (I didn’t even had that certainty). Whoever enters the betting world should know that the first good results take some time to appear in a consistent way. You will need to try several tactics and “markets” until you find where you have the best results.

No one accepts to work without being paid, but there is a job (professional trader) where sometimes the worker has to pay to be able to work. Dealing with losses is one of the most difficult aspects of this job. The sensation that we should have been resting in the beach instead of working in that last match where we lost money is terrible and hard to overcome.

Even when the results come in a consistent way (having several consecutive months with profit in the end of each month) those results are unstable and uncertain. Some months we will win more, some we will win less, some we will beat records and other we won’t win enough to pay the bills. So, it’s very important that you have a balanced life based on your average earnings and not in your record earnings.

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You will have to keep in mind that you can’t go to your bank with much better history earnings than your neighbour with a normal job, because your bank won’t concede you any credit to buy your new car. Even though in five years from now you will be buying a much better car than the one your neighbour bought, your neighbour will be able to ask for that credit and buy the new car much earlier than you.

For those who have an active social life, becoming a professional trader implies making sacrifices in this area too. Dinners with friends, with family, marriages and birthday parties are scheduled to match days. I’m telling you that no all of your friends and family will understand why you missed his party since you have no boss to make you work on that day.

Precisely because we are the boss of ourselves this job is not achievable for everyone. Being your own boss implies having initiative, taking decisions, imposing discipline and assuming risks, not everyone have these skills.

What everyone has is the desire to have the life pleasures that a good professional trader has. But are you (really) ready to be a professional trader?

 


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