@Bull_B3ar All these strategies work to a certain degree BUT it’s not the strategy it’s the trader! If the traders mental state isn’t prepared to take on all the risk of this lifestyle he/she will never be consistent over a long period of time! 🧩
How Finance Twitter works:
Me: "This is a bull market."
Day Trader: "Incorrect, the market is down today."
Perma bear: “It’s manipulated and will crash.”
Swing Trader: “I wish it would pullback to let me in.”
Troll: “No one can make money in the market, it’s all fake.”
Arguing is one of the greatest wastes of time and energy. There is a 99.99% probability that you are not going to change someone's belief system. They made up their mind a long time ago and it is anchored to their identity.
Newbie to Newbies: No strategy works 100%. Don't throw away strategies that work 70-99% of the time due to trades that reflect the 1-30%. Implement risk mgmt instead to grow your accounts.
Stats Example:
0-3 for a day,
12-3 for a week,
54-6 for a month
Real wealth:
Good sleep
No worries
Thankfulness
No jealousy
Good food
Health
Fitness
Pain free
Laughter
Exercise
Good surprises
Freedom
Family
Friends
Life partner
#SundayMotivation
Why is it that when the best money managers in the world earn 20% annually that beginner traders believe it when they are told by their new found mentors that they can easily help them earn 10% per month?
Many think day trading is the low risk easy way to trade not realizing it takes peak physical and emotional fortitude to succeed over long periods of time.