Risk Is Not A Choice In Trading, Fear Is
During these times, it is quite easy to find inspiration. If you’re a member of the Warrior Trading chat-room, you already know what I am talking about. He switched that dream of becoming a full-time day trader into a feasible plan for me. In the latest two trading days alone, he made more the double the yearly average salary here in Italy.
Yes, you read it right. It sounds so incredible that it’s almost impossible to believe, but it’s the undeniable truth.
I could have been using a million words to celebrate what Ross has been able to achieve but that wouldn’t give you any added value. Instead, I want to analyze a little further in detail what he did in order to make this incredible result actually achievable. In order to do that, we need to look way beyond the strategies that he teaches (look at the courses here for more information) that obviously represent the solid fundamentals of these outstanding results.
But as you can imagine, there is much more than that. In order to become the best possible version of yourself as a trader, you need to be aware that risk is not an option in trading and at the same time realize that fear is instead. And the uncontrolled fear is probably the biggest issue to fix before getting to any consistent profitability. What I mean by that is having the courage to systematically execute the trades by trusting the process you’ve come to learn and that will determine your success in the long run.
Always Maintain The Long-Term Mentality
Even Ross himself had to wait for seven years before having such great days. This is the main reason why expecting to have outstanding results within the early days as a trader is a recipe for disaster because it adds unnecessary pressure into one trader’s urge to make money. Instead, always keep the long-term mentality while refining the process and tailoring it in order to fit one trader’s style and personality is the way to go.
Knowing and accepting that risk is a fundamental ingredient in any trade is the most important step in one trader’s career. That includes the idea of respecting the rules when it comes to stopping out in order to limit losses and even learning how to embrace and continuously learn from them. Even with the biggest losers, there is a light of positivity because they are going to be our best teachers. All we need to do is to stay humble and continue learning.
The main goal is loving the game so much that gives the trader the ability to stick with it long enough in a way that the learning curve fulfills itself, which will eventually start producing the results we were looking for. Every day is day one and each one of these days represents a single brick that will contribute into building the strongest foundation for future long-lasting success.
“If you risk nothing, then you risk everything.” – Geena Davis
See you in the chat room.