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® “Home-Study Course” Study Manual Page 260
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structure your business? Be prepared for an Internal Revenue Tax
Audit since random audits are always a possibility.
4. Education
Plan to learn your selected trading system’s entries and exits by paper
trading until you know the system inside and out. Decide how long to
paper trade before going live.
Once you’ve started trading real dollars with your system, be true to
this system and follow it to the letter. During periods of equity draw-
down do not be quick to abandon your chosen system. It’s like a
marriage. Use great caution before switching from one system to
another. If the system is genuinely suited to you, stick with it.
Next, how will you develop the skills to become consistently profitable?
Can you obtain training and education to speed you along on the path of
profitability by developing the proper trading skills you will need for
your selected trading system?
Then, find a mentor that you can look to for support, guidance and
direction. This should be someone that you respect and admire and that
you feel has in the past and will in the future continue to teach you what
is important about trading and/or life.
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