Trading isn't supposed to be fun.
It brings out every devil in your personality, and you must master them.
If you want to succeed, you have to be willing to suffer.
The battle against the weak version of yourself is probably the hardest journey you can take on.
The higher version of you has to emerge, but first you must go to the depths of hell and deal with self doubt, addictions, depression, and you must be unflinchingly honest with yourself.
Focus on the process, not the outcome, and watch how quickly you improve.
The results will come once you have grown into a person who is ready to receive them.
The natural-born trader is a myth.
Becoming a successful trader is a byproduct and result of acquiring and utilizing essential qualities such as patience, persistence, adaptability, emotional/self-awareness, and a never-ending eagerness to learn and improve.
Everyone who struggles with emotional control needs to realize that you don’t “control” your emotions.
Learn how to manage them instead.
The best traders perform day in day out through ups and downs.
Some days are better than others but we’re not robots.
Without a clear long-term goal with coherent milestones, tight deadlines, and a strong sense of urgency born out of self-respect, you can waste years despite daily efforts.
If you don't make progress, step back, reevaluate, and be mentally ready to cut your losses to start anew.
If you are serious about what you claim you want to do, you will find a way, even if you have to learn a new language, move to another country, completely change who you are, to get it done.
Trading's downsides:
1) Loneliness
2) Emotional pain
3) Long time to overcome the learning curve
1) Loneliness
- No support
- Everyone call you crazy
- No one understands you
2) Emotional pain
- Fear blocks your actions
- Greed steals your money
- Failure makes you give up
3) Long time to overcome the learning curve
- Lose money for 2-3 years
- Lose motivation after 2-3 years
- Self-doubt after 4-5 years
If you can endure these, nothing can stop your success.
Invest 3-5 years in:
- Building a powerful system
- Developing valuable trading skills
- Controlling your daily emotions
- Compounding money like nothing else in the world
After 3-5 years these trading downsides will disappear.
Don't give up.
If you want to improve your trading, you need to ask yourself the hard questions.
WHY am I greedy, impatient, fearful?
If you fight it, the harder trading becomes.
Flow state is the point mentally where you accept market information without fear or worry. This is where you can really thrive, because you’re neutral to price information.
If you want to become a better trader you need non-negotiables in your routine/system.
-Risk Management
-Execution
-Journaling
If you’re trying negotiate reasons on why you’re not following the above you simply lack discipline.
Don’t ask how to create discipline just f*cking do it.
Non-negotiable