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Strategy doesn't make you Profitable
But a Strategy + Good psychology does
I've listed 10 psychology Videos .
All you need to do is:
- Listen Daily ,
- Journal Your Progress,
- Repeat.
Retweet & Reply "Psychology" to get it for free.
[Must be following] so that I will DM you.
[Only for First 100 People].
@MoneyTradeEdge You are always an inspiration. Those days I make some losses due to breaking rules,your tweets come as a motivation to not to give up. Always indebted to your wisdom !!
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!
===
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!
===
A heartfelt appeal to the good people of Twitter. 🙏🙏🙏
I hate scams. It angers me when a scammer loots an innocent person of his life savings. Perhaps that is why when we got the chance, we implemented Verified by Sensibull. But there is sad news.
We can bust all the scams here, but we will not be able to save people till we go to Youtube and finish the scammers. Here is why, and here is what we can do
1. Twitter is a smarter crowd than YouTube. People here smell a scam from 10 miles away. Youtube has gullible folks who are fooled. Youtube is where scammers have their empires. Twitter is just an outpost
2. Youtube is not social media. It is a mass broadcasting platform where the content creators can delete comments. And scammers after getting busted in Twitter go to Youtube and just do business as usual
3. I repeat, every scammer who was caught with a fake P&L on Twitter has a thriving business in Youtube even now. Go their their channel and see yesterday's video's number of views, and how people comment "Sir aap bhagwan ho". The moment there is a negative comment that talks about fraud, they just delete it
What can we do?
1. Create awareness. What is awareness? The knowledge that most scammers are horribly incompetent. In politically correct terms, we must shine the light of knowledge. In politically incorrect terms, we must expose the frauds for who they really are. In the last 5 years, what has caused real damage to them is not the fear of regulation, but breaking the trust they have among gullible retailers. And breaking that trust that is simple - Verified P&L. Most of them are loss making. May be all of them are.
2. If your broker does not have verified P&L, ask them to implement it. Force them, pressurize them. No broker has a reason to not implement Verified P&L. A broker who truly cares about doing the right thing will implement verified P&L. And unless all brokers do it, there is no point - frauds will say this is marketing tactics by one broker
3. Comment on their Youtube channels about their frauds exposed. They will delete, but eventually they cant keep up if everyone does this. And some people will see. Mass report the Youtube channels for financial frauds and giving tips.
4. Most important - talk about it anywhere you can. Spread awareness about what happened here - tell them our stories - scams, scammers, about how P&L can be faked and P&L verification. Everytime someone is busted, share it everywhere - your social media, your get togethers, your offices, your apartment whatsapp groups etc. Heck, your family group mein there will be uncles following these scammers. They need to know. This is negative news, and will spread like wildfire. For a change, we need to do some good with negativity :)
Thank you. Please retweet this for greater awareness
🙏🙏🙏