We are going to college, get some education, get a job or starting our own business. We learn what we need to be successful, but nothing in our education or work experience provides the knowledge or psychological control needed to succeed as an investor. Unfortunately, it’s human nature to think that because we are successful in one discipline are going to succeed in another. Most people enter the market with the idea of becoming investors have a sense of invincibility, superiority, and do not have the slightest idea what they will face. The dream of easy money and financial success can quickly turn into a living nightmare. The first step to becoming a successful intraday investor is to understand why so many investors fail. Answer the following questions:

• Buy a business without any idea what the cash flow?
• Buy a business if you have little experience or training compared with competition?
• Embark in a business where your competition is well capitalized but you have limited capital?
• Buy a business without a working plan?

If you are saying, “No way”, think again. That is exactly what you are doing when you start investing for the first time. You must prepare and realize they will be facing the best inversors the world. Training, experience, psychological control and accepting that you are not invincible or smarter than the market will lead to its own success. Wall Street is paved with the bones of those who did not learn that lesson until it was too late.

Most investors have the wrong target. If money is your goal, you have little chance of success. Many novice investors looking for investment as a way to escape his hated office work. They know they have to do a certain amount of money to pay their debts and this becomes a psychological guillotine. If the investor fails to meet this goal, he begins to pull their investments beyond their skill and ability.

The result is a series of consecutive losses that could have been avoided if the investor had the right goal. Concentration and the extent of its success should be based on the monitoring of its investment plan, not the money. If you follow your plan every day, you are a sure winner. If your concentration is on money, this leads to emotional decisions and emotional decisions lead to uncontrolled. The investors successfully make decisions based on fact and analysis. Do this and the money will follow if their methodology is sound.