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So, what are the requirements of someone willing to try this profession as a career choice?
(Meet the 9-5 gamblers: Welcome to gambling as a career option http://news.bbc.co.uk/1/hi/magazine/4482273.stm)
The first and most essential requirement is discipline. There will be innumerous (not metaphorically speaking) times which it will be tested and discipline will be the one discriminating success from failure, even if the strategy of the investment is profitable.
Then come self-concentration. These investments require total attention of the investor all the time, since bad moves can result to catastrophe.
Following come devotion, will and love for the work. All these of course are true for any profession, since if they exist, then anyone can succeed in their work.
Then there are the danger of greed and spending. These hazardous aspects of life deal with proper money management. Spending has to do with no preservation of the capital and all profits are spent on luxuries and material things. It is like having a company and all its profits are taken away from its bank. It is inevitable that the company will bankrupt, since several payments must be made such as, bills, salaries, company's expanding, etc.
Greed however is the biggest enemy after loss of discipline. Loss of discipline will result to total capital loss whatever that will mean, which is of course the worst scenario. After avoiding that danger, greed comes to result the same thing more or so. This happens as the gambler continually sets new higher targets, usually neglecting the reward/risk ratio, which leads to a not-proportional to profits increase of the risks, jeopardizing the whole investment.
All the above are the basic requirements of a successful professional gambler.
Oh, and of course he must find his edge, which needs a strategy and money management! |