Compounding matters: If you catch 3 good rallies in the stock market in 1 year and you made 20% return on your account in every situation, your capital grew by 73%! If you focus on the right situations instead of trading all the time, you can make a fortune.
· Walk 6-10k steps a day
· Sleep 7-8 hours a night
· Lift weights 2-4x a week
· Spend 30-60 minutes in nature
· Eat 3 nutrient-dense meals a day
Do this for 90 days straight and you'll be healthier than 90% of the population.
Patience is one of the most powerful skills a trader can develop. Waiting for high-quality setups isn’t a choice. It’s a discipline you must master to thrive in this game.
Best trading advice I could ever give is stop being a coward.
Are you trading to make money or to protect it?
If you’re trading to protect it I suggest you quit now and go get a job or put your money in T-bills.
You don’t pick one of the most high risk careers in the world where 95%+ of participants are going to lose their ass just to be defensive. That doesn’t make any sense.
Find a solid edge
Go balls deep
Play to win
***Obviously if you are learning a new strategy, are new to trading, or testing stuff it’s different. If that’s the case yes be careful obviously.
Remember:
1. Sit on your hands when you don't have an edge. Don't force trades.
2. Step up when you do see edge. Be fearless...Hesitationless... Methodical.
3. Expect nothing. Expectations create emotions.
4. Trade the tape, not your P&L.
5. Improve, improve, improve