Below are some of questions an aspiring trader need to ask himself and answer them honestly. It's important to understand yourself as trading is in a big way a psychological warfare you are pitting against the opposite party holding a different view. It's going to be an ongoing war that will not end until you give up and hang up your weapons. You may lose some of the battles, injuring yourself sometimes badly, but as long as you still survive and determine to fight on, the war is not over.
Believe and have faith in yourself for the task you set out to achieve. In life, you have to give yourself that opportunity, a chance to prove that you too can make it. Another option is to go all out and sell your abilities to someone who appreciate it and offer you the opportunity.
Here are the questions:
1. What are the reasons you want to be a trader?
2. What motivates you to be a trader?
3. Are you passionate and hungry to succeed in Trading?
4. Do you consider yourself a pro-active person?
5. Do you take the initiative to make things happen or you just wait for things to happen?
6. What is your initial capital?
7. How much are you going to risk in this endeavour?
8. What is your expectation?
9. Do you have a time frame for calling it quits?
10. Have you spoken to your family members and discuss with them?
11. What is your risk tolerance level?
12. What type of trader you want to be?
13. What type of knowledge have you acquired to prepare yourself?
14. What are the strategies you already know?
15. If you are still not making money using them, what are the reasons?
16. What are your strengths?
17. What are your weaknesses?
18. Can you focus on doing a job well?
19. Are you prepared for the hardwork and the challenges ahead?
20. Do you have the courage to take this giant step?
I will continue to update them as and when more questions come to my mind and welcome contributions from the old birds.