While each trader has a slightly different view, they all boiled down to
solid methodology + proper mental attitude = trading success.
In fact, I'm not the smartest student in the class. I even failed one of my subjects during my university too.
But that didn't stop me from trading. And because of trading, I'm able to enjoy my financial independence today.
I believe that anyone, including you, can be a successful trader. The question is how much do you want it?
2. I learned that more trades do not mean more profits.
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A HARD lesson I learned that completely prevented me from being a
successful trader was to think that trading requires a lot of time being
in front of the computer, and I need to be taking a lot of trades to
make money.
Here’s the story of how I came to realize the truth - trading is more on quality, less on quantity.
Again, I came to realize this after reading the book titled One Good Trade by
Mike Bellafiore. We are accustomed to having the impression that the
more time we spent on something, the higher the return's gonna be. But
it's actually not the case in trading.
The truth is the more time you spend staring at your charts and trades, the more difficult
trading is gonna be, and thus the more mistakes you're gonna make.
Nowadays, I spend only an average of 30 minutes a day trading. Some days, only 5 minutes!
We trade so that we can have our financial independence and to spend the
time doing the things we enjoy. Don't fall into the trap, thinking you
need to spend a lot of time trading to profit from the market.
3. I learned that trading is very safe if you know how to manage your risk.
Alright, one last hard lesson before we wrap up this email! This is a lesson
that changed the trajectory of many of our students' lives.
And that is… you need to master your risk!
Many traders, especially when they just started out, do not understand what
risk management is, and as a result, blew their capital too easily and
quickly.
However, if you can master risk management, every single trade that you take, you have the full control over how much you
are willing and prepared to take.
The risk isn't in the market.
The risk is in how discipline you are in managing your risk.
And here you go, the 3 hard lessons that I had to learn. But after getting
through each of these, I've learned the hard way and now I'm able to
enjoy my financial independence as a trader!
