Words of Wisdom
We want to have a 100% success rate among our students and chat room members. We want everyone trading profitability. This means you have to start slowly and focus on educating yourself so you know when to buy, when to sell, and how to manage your risk. Every trade we take is based on one of the Trading Strategies we teach in our Trading Courses. We encourage new traders to start slowly as you acclimate to our trading style. I recommend using a Paper Trading account, or a Demo Account, to trade with pretend money until you have built confidence in yourself and the strategies you will be trading.
Know when to Call it Day
It’s really important to have the discipline to walk away when you are having a rough day. Sometimes we are in a bad frame of mind or the market isn’t cooperating or for whatever other reasons, we are not trading well. When this is the case, after a certain number of back to back losses or after a certain dollar amount is reached we need to call it quits and come back tomorrow. This is the single most important skill I learned as a trader. I used to fight out the bad days and generally they would get worse and worse. It would be a big blow to my confidence to go from being down $100 to down $500. Learning to walk away when things aren’t going well is huge!
This is a Marathon, not a Sprint
The longer you are part of the market the more you will learn and the better you will get. We tell our students in this career you have to Survive until you Make it. Learning to simply tread water in the market is a HUGE accomplishment for new traders. Ultimately we want to get all our traders generating profits but for some it’s a slow process with many bumps in the road. That was the case for me. I blew up several accounts before I started to turn it around. If you are ever having a bad day and want to vent feel free to email me or call me.