I want to encourage you to focus on your strengths when it comes to trading.
There’s a lot of opportunities in the market in terms of what you can trade or what you can do. You can make money doing it in a lot of different ways.
If you’re Michael Jordan – you have all these sports available to play. Technically, he could play any number of them. But if he wants to have the most success, it’s wiser and smarter of him to go with his strength: basketball.
The point is – focus on what you’re good at and what you know.
The Stock Market
If you’re trying to trade stocks on the stock market, there’s a lot of different ways to make money. Some people should stick to long-term trading, and some are better at day trading. What fits for you, may not fit for me and vice-versa.
What type of person are you? What is your style? What fits best for you? If you don’t find the type of investment trade that is to your strength or fits you best – you won’t survive in this industry.
You may need to do a self-evaluation and be honest with yourself. Maybe you’re not so good at day stock trading, but really great at trading options or penny stocks. Then it goes without saying that you should be focusing on trading options or penny stocks.
Even if you don’t have a lot of money to invest in the things you’re good at, you should do what you can with it, because it’s what you’re good at.
The truth is, you only need to be good at one specific thing to make a great living. It’s more about how you focus on your strengths and increase your profitability by working with what you’re good at rather than what you’re not so good at.