As the first video type post it’s only right we cover the things right at the begining. What should our expectations as a trader be? What kind of goals should we have? How do I approach my learning?
I cover these topics in a brief fashion straight to the point of what I think answers all these questions in the video below, followed by a slightly more indepth outlook. I am quite relaxed and chilled out and might swear from time to time but nothing wrong with that right?
As I said at the end you can go check up on my journey and insights right here. Now lets dig a bit deeper into these things.
Expectations vs Reality
Like I mentioned the trading community is pretty much toxic. Everyone is trying to sell these dreams to regualr people and scam them with there ‘90% accuracy system’ and thousands a month from 10 minutes of your day. The second one is true actually I’ll give them some credit. However you will need a very large account to begin with. From a £1000 account its just a lie. However from a £200,000 it’s not unlikely at all. But of course that doesn’t appeal to the masses so it is not portraid like that. People underestimate the work that needs to be put in before you even start live trading let alone a huge account size like that. No one explains the key to any success in trading. Psychology. People are made to believe it is all about a strategy and a system but don’t realise that that is just a small piece of the puzzle. There is way too much not being shown and that simply explains the 90% failure rate of traders. Simple as that.
Goal setting is important. Written down carefully planned and all of that stuff is crucial. I gave you my personal goal for this year and my method of achieving it is simply to follow my trading plan. I probably over simplify things compared to many but it’s as simple as that. Follow my plan as close as I can and the results ‘should’ come. Process over outcome. I also have fitness goals and other little things which all contribute to trading as they build discipline and consistency aswell as reducing the stress of trading. Realistically they should be split up into short term intermidiate and long term but my long term is to be managing money so it all pieces together I guess.
My take on learning to trade
Lastly how to learn. After all that I said , at the end of the day it is down to you and your personality. What works for you. If you’re like me then go ahead with my method. If not there’s no harm in trying it but if it is not working for you then adjust to something that does. I highly recommend practical application whether it is watching live rooms, backtesting or just analysing the markets for yourself. There is no better method out there than ‘on the job’ training so just jump in there and you will learn much more and much better than anything out there. DONT TRADE LIVE. Not yet. There is so much that goes on behind the scenes so don’t be getting the wrong impression.
So that wraps it up for this week. I havent quite figured out how I’d like these structured but hope I provided some value to you and it will only get better from here.
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