Trading can be tough. It requires a lot of patience and a lot of knowledge. And a lot of additional investments. Yes. There is not only initial investment that you can make to your broker and not only the research that you have to make on your trading signals and trading technique. With progress moving so fast there is also an abundance of things that you can buy in order to be more productive and more effective.
It is an unusual way to look at trading and at your progress, but, what can you buy in order to be more successful?
1. A better computer.
2. An alarm clock.
3. A good book.
4. Ledger.
5. Money managing software.
6. Several trading accounts.
1. A better computer.
You can always blame your old and dying computer for your failure. Internet doesn’t connect nearly as good as it used to and the speed of performance is not as fast as you need it to be. Well. Sounds like you are in the market for a new computer.
A better computer could be very expensive, granted. But in the end you are going to be very glad that you made it. It is not only going to increase the speed of your trading but also make your life much more comfortable.
2. An alarm clock.
Of course we all have clocks on our computers, our phones and on our wrists. But an old-school alarm clock is not going to run out of battery charge and is not going to fail you being on a silent mode. But... why do you need an alarm clock, will you ask? And I will say this – you are going to do a lot of stuff simultaneously. And you are going to have to take breaks, read the news and follow Power Signals timeline.
Alarm clock is going to remind you about all of these with loud and sharp sound. The one you are not going to miss.
3. A good book.
No. I am not talking about a VERY interesting latest novel by your favorite author, although you should pick that up as well.
I am talking about a book on trading. Something that is going to contain all of the information and basic knowledge that you are going to need on a daily basis. This is the kind of investment that you are not going to regret making.
And as long as you are buying it, do not forget to use and read it as well.
4. Ledger.
Trading journal is a must-keep. You are going to have to fill it out and read it almost every day and for sure after every trade. That is why you need to look for the best and most convenient and comfortable ledger you can possibly find. You need the one with separate days and if possible even separate hours. This way your trading present is going to be all in front of your eyes.
5. Money managing software.
To be successful in trading you need to understand how to talk to your money and how to behave around it. For that you are going to need a special kind of program. The one that allows you to follow your expenses, invest your spare change and see how much money you have left in all of your bank accounts and credit cards.
Buying a program like that is going to go a long way not only for your trading but for your personal finances as well.
6. Several trading accounts.
Ok, this is not really a purchase, you caught me. But it is something that you can buy in order to be even more profitable and effective than you already are. Will you use all of the three accounts? Well that is completely up to you, but we at ToolsTrades highly recommend this practice.
To find out more you can talk to one of your agents in the chat window!
