In 1553, Lady Jane Grey became the Queen of England. Unfortunately, nine days after her enthronement as a queen, she was dethroned. Accused of treason, she was beheaded a year later. It was from that incident that the idiom “a nine days’ wonder” was coined – meaning, in brief, “something that makes people excited for only a short while.”
What an apt way to encapsulate the error of this present age!
Regrettably, many people are riding on the delusive wheels of various nine days’ wonders. From the street boys and girls that take in hard marijuana, to the urbane ones in the offices that inflate a little here and a little there of project costs. From youths that postpone the call of responsibility, to the adults that explain away such call. From employees that bring no tangible value to the table but get a paycheck in return, to entrepreneurs that hoodwink unsuspecting clients just to make a sale.
From flash in a pan to the out-of-the-frying-pan-into-the-fire ambitions, the syndrome of the nine days’ wonder is now trendy in the business space, leaving many entrepreneurs intoxicated and tainted through the pathway of building an enterprise.
The truth is that, as entrepreneurs, we all face the ploy of various nine days’ wonders. There are times when we get so blindfolded or consumed by the short-range razzmatazz of our desires or actions to scale our business that we fail to project into the future to see the bridge that it holds.
We hit a home run in our business like magic and then we begin to ride non-stop on the euphoria of such fleeting wonder, thinking that that’s the only way the cookie crumbles. And by the time the whole hoopla is over, we are surprised and pained that it doesn’t last after all.
So what’s the point?
Well, the point is very simple, loud, and as plain as the nose on your face.
Don’t be a victim of a nine days’ wonder!!!
As an entrepreneur, don’t be in the league of those who get overwhelmed or distracted by the immediate, soothing, short-term gratification of their ambitions, decisions, or actions. Rather, as an entrepreneur, you must learn to see beyond the now, project into the future, and stick to what truly lasts.
Have a soul, buddy.
Let’s always remember that whatever we are building as entrepreneurs is not for us alone, but also for both posterity and progenitors. And they will gather some day to hold us accountable. Because if truth be told, when all is said and done, a nine days’ wonder isn’t ‘wonder-ful’ after all.
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How to Gain Self-confidence as a Professional Trader
Confidence is one of the key ingredients which will allow you to trade the market like a pro trader. If you wish to build your career in the investment world, we strongly recommend that you learn to take the trades with strong confidence. It might take a while to get used to the overall concept of trading but once you become good at analyzing the market data, you can build your confidence level. But developing your skill in the retail trading industry is not that easy. You have to follow some specific rules and only then you can expect to become a full-time trader.
In this article, we are going to give you some advanced tips which will allow you to trade the market with a high level of precision. Once you become good at following the tips mentioned in this article, you will never struggle in the ETF trading industry.
Forget about the past trades
The novice traders get biased with the losing trades. They keep on monitoring the market and repent of their mistakes. On the contrary, the professional traders take smart steps and without any repentance, they look for the next trade signals. If you wish to develop yourself as a professional trader, we strongly recommend that you forget about your past trades. You can’t undo your past. Instead, look for the next trade signals strategically and try to find the solutions to this market.
Trade with long term goals
You must take the trades in the market with long-term goals. Without setting up long-term goals in the investment business, it is very hard to stay tuned with the market changes. View the website of Saxo and learn about the importance of having strong determination in the trading business. Unless you are determined with your actions, you will keep on losing money most of the time. So, follow a conservative way and systematically take the trades. Once you become good at evaluating the key direction of the market, you can easily change your life.
Analyze the high impact news
Learning about fundamental analysis will improve your decision-making skills to a great extent. Very few traders in the retail trading industry have the skills to evaluate the fundamental data in the market. If you want to survive in the retail market, you must learn to take your trades systematically. Forget the fact that you are know everything about this market. See how the news data changes the course of the trend. As you become skilled in analyzing high-impact news, you will slowly learn to take the trades with strong confidence. This will also make you a better trader and let you systematically trade this market.
Create a trading routine
To build strong confidence in the trading profession, you should trade the market with a balanced trading routine. Unless you take your trades with a proper trading routine, it will be really hard to bring any positive change to your trading system. As a trader, you might be thinking that you know every bit of detail. But this is not all true. In your trading routine, you must define all the basic rules. If you don’t trade the market with predefined rules, it will be a big challenge to make bring changes to your trading system. Follow the basic rules and trade the market with long-term goals.
Trade with low risk
You should always trade the market with low risk. Once you start taking the trades with managed risk, it will become an easy task to develop self-confidence. The majority of novice traders don’t have the strong skills to deal with the complex market. Usually, they aggressively take the trades and they lose a significant portion of the trading capital. So, trade with only 2% risk in the trades and it will help you to build strong confidence at trading.
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