3 posts tagged with "motivation"

In the fast-paced world of financial trading, it's easy to get caught up in the promise of quick riches and immediate success. However, the reality is that trading is a journey, not a sprint. It requires dedication, mental toughness, and a thorough understanding of the market. The path to financial freedom is not straightforward, and this article aims to guide you through some hard truths about trading. Our purpose is not to discourage you but to arm you with the knowledge to make informed decisions, respect the trading process, and eventually achieve your financial goals.

1. The market isn’t going to make you rich today or tomorrow, but it will when you eventually earn it! Just as with all things in life!

2. Neither the markets nor this discord will cure your financial woes! If this is your pretense, re-evaluate your situation! The market isn’t a place of last resort, it's a place of respect! Change your mindset.

3. Remember, you are trading against the best in the world, including day traders, institutions, and computer nerds with their algorithms! This isn’t amateur hour, live, breathe, and bleed this endeavor! If not, consider becoming another number in the next NFP drop!

4. This system is inclusive of all origin stories and walks of life, indiscriminate of your past, but with high expectations of your future because we have created the cheat code. Don't fail at cheating!

5. Camaraderie is great, but it doesn’t equate to results! I want the best of the best of this community to take charge and become an echo chamber of our teachings and only our teachings!

6. Lastly, keep chipping away, chip, chip, chip! After all, that’s how you strike gold!

In conclusion, remember that trading isn't a get-rich-quick scheme, nor is it a solution to immediate financial struggles. It's a strategic game played against some of the world's best. It demands respect, dedication, continuous learning, and a hefty amount of resilience. Our system welcomes you, regardless of your past, setting high expectations for your future because we believe in the potential for success. But ultimately, the outcome depends on how much you're willing to invest - in terms of both time and effort, not just capital. So keep chipping away, learning, adapting, and striving for consistency, because that's how fortunes are built in trading - one wise decision at a time.

1. No Journal - This is the biggest, most important element of trading! Documenting your losses, finding flawed habits, and making a conscious effort to fix those habits! It also will highlight good behavior (strengths), familiarity with certain stocks as they each have their own cadence! e.g., TGT does not move as fast or violently as NVDA. Most importantly, the journal is a contract with yourself, to improve and continue improving!

2. Attempting to Become Your Own Get Rich Quick Commercial! - What you see on social media of wild gains come with either stupid degrees of risk, or fairly large ports! I myself with a quarter-million-dollar port on average only stand to make $2,500 a day with (1%), but the numbers get larger exponentially, 2% = $5,000 = 3% = $7,500. Don't be impressed by $ - but %'s = the magic sauce to financial independence! All it takes is (1% a day)

3. Large Positions in Any One Play! - 10% is the max; 5% should be your norm! 5% equals 20 plays! But you'd be surprised how often you hit your 1% goal with smaller positions and less capital exposed, it might happen in 2 to 3 plays! Give it a try! It will change the game for you!

4. Stop Losses Are Meant to Be Hunted! - It gives an illusion of a failsafe! But only, only, only makes sense when you're attempting to protect profit! Not protecting a just-opened position! Always mark a place on the chart where YOU will manually close a position at candle close! I teach this in master! Pre-programmed orders are stupid, after all, why would you show the enemy where you're located? But with a manual stop always protect your pre-drawn level!

5. Design Your Trade - I teach @Master to design their trade! Meaning never chase the candle! Always have your trade plan defined and let the trade come to you! Always let the trade come to you, and never ever betray your plan! FOMO is what we label chasers, bag holders are what we label those who chased late! Be neither! Be the engineer, plan a risk reward of 1.5 or greater (this is a rule) - planning your trade is the opposite of falling for market traps but rather have the market fall for your trap, which one sounds more in control?

Bonus - Don’t be a know-it-all, don’t overcomplicate the system, the thesis, or your process! Keep it simple! Do you see me using unnecessary trade lingo? Lines, fibs, trend lines, candle patterns, fancy bam methods, no!!! Why? Cuz less moving parts equal a more reliable product! Make your trades more reliable and be less is more like Honda, not PHD level engineering like Mercedes….

Tune in to masterclass, take the next step in accountability. $1348 sounds like a lot, but so does losing $15,000 - the next 30 days with me will change your life! I promise! Upgrade to @Master today!

DISCLAIMER: While it is very possible that you could replace your current income by focusing on what is discussed in this article, you probably shouldn't quit your job until you have 2-3 years of consistent profitability under your belt. Trading is an emotional game, and the game changes drastically when you rely on those trades to end in profit in order for you to eat, pay rent, or buy baby formula.

Over 90% of retail traders fail, and as we have outlined in previous articles, this is mostly due to the psychological and emotional hindrances new traders burden themselves with - they get in their own way. In the market, you are your most formidable adversary, and most people do not fully understand how to overcome the only obstacle that matters for success; it isn't the market, but yourself.

So, what needs to happen, or what skills do you need to learn, in order to “Quit Your Job in 90 Days”? The first is an incredibly simple fix that most people are too lazy to do. People see trading as gambling or pushing buttons on a phone or computer, and the number on the screen next to “account balance” either goes up or down after the conclusion of the trade. But often, they don’t fully understand why the end result has occurred.

Step 1: Journal Your Trades​

For you to find success, you have to analyze what went wrong or more importantly what went right on any given trade. Did you make a mistake somewhere regardless of win or lose? Did you execute flawlessly? Did you do everything right and still get stopped out? These are questions you need to be able to answer in order to improve your thought process for the next trade to come. Traders will enter the market in the morning, make or lose money, and then move on and never look at that chart ever again. This is completely unacceptable and you will never have success this way because of one key concept discussed in the past: traders will operate under the misconception that they are following their strategy to a T but in reality, they are fumbling around and messing it up completely. How will you truly know what you need to improve unless you go back and let your trades tell you?

Step 2: Backtesting and Practice​

After you have a preliminary idea of where your errors are coming from, now comes the most crucial part of trading, backtesting with the replay function on TradingView or any other service that allows you to go back in time and replay price action. At this point, you have an idea of where your skills are lacking and can now enter a risk-free market environment to hone those skills and improve on them. Not only does this give you more practice, but it removes the emotional element of fear of losing money and allows you to build muscle memory of entering trade setups that make complete sense. On any given trading day you may take 1-3 trades, in one afternoon with the replay and backtesting function you can take hundreds of trades. The amount of data and repetition you receive from this is priceless.

Many of you have entered the market over the last few years and just don't have the experience of seeing how these charts move after years of staring at price action. For example, I have been studying markets since I was 14 years old (I am 24 now), there are many things that I am able to pick up on in the marketplace because I have seen it play out hundreds of times. Does this make me smarter than any of you? Absolutely not. I have just put in the time over the years that gives me this experience and am able to relay that information to you in real time.

After 90 days of completing step one and two as outlined above, you should see a drastic performance shift in your trading. For those of you still on the fence about putting in this amount of time to practice, I want to end by asking you a question, Do you think your performance in the market would be better or worse if you saw your trade setup 1 time or have sat down and seen it play out over 10,000 times? You all know the correct answer but it is up to you to take action, put in the work, and join the rest of us in what I like to call “Print City”.