Page 35 - THE MARKET WHISPERER

34 Introduction

responsibility to provide for individuals who are dependent upon you.
Knowing that in the good old days I needed to be responsible for paying
my employees’ salaries caused me many a sleepless night over the years. A
stock trader doesn’t employ anyone. It’s the trader, the computer, and the
Internet. A huge advantage!

Investment. Every business demands investment: vehicles, office
machinery and supplies, advertising, printing, premise renovation and
more. In addition to a significant minimum investment, you’ll need
working capital to ensure ongoing activities until a positive flow develops.
The stock trader needs a good computer, several screens, and working
capital that allows opening the trading account and having funds to trade.
That’s it!

The risks. It’s rare to see a business close without causing sorrow and
pain. Businesses close in hard times. Debts pile up, employees pressure for
raises, and banks suddenly cut off their lines of credit, leaving the business
without oxygen. Assets and stock, which under regular circumstances are
worth their purchase value, are thrown out or sold for pennies. A stock
trader can limit losses to a specific part of his or her investment. Show me
any other business where you can limit your loss!

The possibilities. In most businesses, it’s hard to be creative. The sorry
fact is that most self-employed people make less than salaried employees.
The professional stock trader does not operate within a competitive
business reality that limits his or her possibilities. The sky’s the limit!

Not everyone is suited to being a stock trader, just as not everyone’s
suited to being self-employed. Setting up a business requires commitment,
responsibility, investment, and risk. If I had to choose a field to be self-
employed in, undoubtedly my top choice would be one with the lowest risk
and highest possibilities.

From my experience, I’ve learned that the chances of success for a
beginning trader who must earn a livelihood from trading are far lower than
for those who simultaneously maintain their original source of income. I
want you to start out small and at the same time, maintain another source
of income. I want you to succeed slowly and safely, knowing you have a
secure amount of money coming in, reducing the pressures to generate
immediate income. If you’ve left your job or are between jobs, don’t rely on