Iโve been in thousands of losing trades and had sleepless nights, but I never gave up.
Hereโs what I learned to help me continue trading and become the successful trader I am todayโฆ ๐งต๐
Trading is a lifelong journey. You must accept you will not get rich overnight. You have to learn to survive.
In order to survive, you have to be willing to learn. Learn price action, learn risk management, learn about your mindset, and most importantly learn from your mistakes
Be open-minded to learning but be obsessed with consistency. Consistency can be only trading for 2 hours a day. Locking in 20-30% gains on every trade. Having the same daily routine. Trading only 1-2 tickers. You choose what consistency means..
Stay focused on your journey. Donโt get distracted by FinTwit gains. If you make $200/week or $2000/week. You are still making a profit. You must learn to walk before you can run. Keep your sights on your journey, and find small improvements, you can achieve a steady equity curve.
Work on your mindset daily. Find ways to tune out noise & create stability in your day. If you work full-time, then only trade during hours, you can focus, or days off. Learn to breathe & stay objective while you trade. Remember, a compromised mind leads to a compromised trade.
Time is on your side. You donโt have to grow your account 100% in your first year. If you can make 20% account growth, youโve already beat the market and most investors. Focus on steady growth rather than accelerated growth.
Trading is one of the most difficult careers to endeavor. But, if you take it slow, learn, and always protect your account first, you can make enough capital to grow your account, take your family on vacation, and live life how you want.
It is up to you. Pave your own path, focus on patience, discipline, and learning each day. You can be more successful than any retail trader, but you canโt if you quit today. Embrace the struggles and trust the process. The journey is always better than the destination.
@jam_croissant@CNBC@RickSantelli Tug of war b/w macro liquidity (coming from bond issuance) forcing negative ๐ in the equity market (this is what is holding vol up) vs positive ๐ธ๐ผ & ๐ฆฅ ๐.
โ ๏ธ Aug Opex ๐ช (16-18) is the one before the big ๐ป SepQ ๐ช - which is where structured products & most of the puts lie ๐
@RakeTrades Maybe itโs time to help and give back to the World as Rake trades community? How does that sound? More than 3500 buildings got smashed last night in Turkey and people suffer now under debris and snow๐ฅน
@naval4you Naval I recommend a minivan the new sienna for the house and any car for you so this way you are not dependent to the kids. Thatโs what I bought for my wife. I have 2 kids too and no SUV is good as a minivan on functionalityโฆYou will end up getting one anyways in future I bet๐