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Trading took me 4 years before I found my groove!
Here are 10 lessons I learned the hard way (so you don't have to):
1. A Strategy Needs To Fit You.
Take courses, read books, and use the templates for success but in the end, that’s all they are ‘templates’’ you have to adapt them in a way that you can trade that is maximized to your strengths
2. Risk Is Key.
In the beginning, if you can learn the importance of risk it will be your best friend.
You will be able to survive the learning curve and thrive when you’ve got it all down.
As well as damaging your mental capital.
Trust me, get this one thing down early on and it will set you up for success.
3. You Need A Powerful Routine.
My number 1 thing that helped me was creating a routine that was optimized to me so I could be prepared, focused and calm going into the markets.
I have a checklist of things I need to do before trading like review plan, check news, exercise, replay my goals etc and a post routine to remove stress and to review/improve for the next day.
I also made sure I only trade certain hours to avoid burnout and also to trade at my best
4. Set Goals.
Having something to aim for is what keeps you going in the beginning and to sustain success.
Without goals you just hit a plateau and then end up going backwards.
5. Always Be The Student.
One thing I always do is invest in learning and education.
If you think you’ve made it and you don’t need to learn anymore then that’s a big red flag.
To be great you need to have a hunger for growth.
6. Journal EVERYTHING.
What gets measured gets managed.
This includes metrics, mark ups and emotions.
The amount of growth I have had would never have been possible if I didn’t do this.
95% don’t do it.
I know I put it off for a long time.
I wish I started earlier tbh.
7. Find One Way, Stick To It And Evolve.
Instead of spreading your focus with too many strategies if you focus on just ONE you will learn to become a master at that and evolve overtime.
I have multiple different variations and methods but they all stem from one concept so technically I trade different systems but they are all the same. Lol.
8. Focus on ONE mistake at a time.
Again narrow your focus, when you make a mistake or notice a trigger in your trading just hone in on fixing that.
You will have a far better chance of fixing it than if you try to fix multiple things at one time.
9. Focus On The Process.
Don���t get caught u with thinking about the money it's the number 1 way to lose it.
Instead just focus on taking one good trade at a time. The rest will fall into place if you do.
10. Make Friends With Patience.
You don’t have to trade everyday. I have gone days, weeks and even months without trading.
If your A+ setup doesn’t present don’t waste your time with it. Save your capital and confidence.
That’s a wrap!
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P.S. if you enjoyed this, 2 quick requests:
1. Share it with your audience so others can see - or just hit reply to let me know if it helped!
2. Drop me a follow @TraderDivergent
for more trading and psychology related content
Cheers!
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