The Search For Overnight Riches

Many novice market timers (traders and investors) have difficulty facing a cold, hard fact about the stock market: You can't get rich overnight.

Experienced timers know this. They expect to make big profits in the long run, but they focus on making as many reasonable profitable trades as possible. They do not focus on a single, life-changing trade.

Many timers also realize this, but it is hard to accept. And some are initially drawn to market timing with the hopes of making big profits... Quickly!

Money that can be used to finance a luxurious, exciting lifestyle.

Or money that can be used to show family and friends that one is deserving of envy or respect.

However it is dangerous to approach trading in the financial markets from this perspective. It directly contradicts the fact that it's going to take some time before one makes enough money to support a new lifestyle or to impress others.

What's Wrong With Dreaming?

What's the harm in dreaming of making big riches? Nothing, as long as you realize that "quick riches" is just a fantasy. If you don't, you may want to act on it.

"It's vital to your very survival, when trading the financial markets, that you keep the proper perspective."

If you dream about how big wins can change your life, you may start to want to make extremely huge profits...fast.

If that happens, you may be tempted to start taking measures to make those big wins, by ignoring tested timing strategies which provide long term profits, plus risk management to safeguard your capital

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You may take riskier trades with the hope of being lucky enough to triple your capital. Or you may be tempted to stray from your timing strategy because you are "certain" you see the potential to make a big win. This is the first step to disaster for any trader, whether a novice or experienced professional.

You may even abandon all risk controls because you may start to think, "Unless I can make some big money fast, market timing isn't worth it anyway."

The "get rich quick" urge is felt by all market participants. After all, we are there to make money! But this particular urge must be ignored if you value your savings.

Going For The Big Win

It's important to stay modest. It is unlikely that you will be lucky enough to be set for life after only a few big trades.

You will have to stay with the timing strategies for year after year, just as all seasoned, successful market timers have done.

Recent articles from the Fibtimer market timing services;

• Market Timing Facts vs. Market Timing Fiction
• Reaping Rewards Over Time
• Letting Your Profits Ride
• Trading Trends; Only for Winners
• Fear: The Enemy of Market Timing Success
• Is Volatility A Four Letter Word?
• A Butterfly Flaps Its Wings... Chaos Theory And The Financial Markets
  
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