The Path To Trading Mastery
This market can be challenging, and without an edge you’ll feel lost. Here’s the path I took and ultimately became the foundation for my success…
It’s easy to doubt yourself right now. Easy to feel lost. Here’s the way back.
When I first started trading, I was a book junky because back then, there really wasn’t mentoring so I would buy a book, finish that book, buy another book, and I was constantly in a loop of the next book is going to give me the answer that I don’t have yet.
And when I finally realized that the chart reading is not really where you earn money, that became the epiphany because when you really boil it down, you could really learn how to read charts more than adequately in a week but you don’t really learn how to make money in a week.
What many people end up doing is they give a strategy, let’s say a month and then a year later, they tried 12 different strategies and they think they have a year’s experience but they don’t, they have 12 one month experiences.
That feeling we crave, conviction, only comes when you finally make a commitment to a strategy, and then you only trade that strategy. When you stop strategy hopping.
And again, I’ll take it right back to being a business owner which is absolutely what is necessary to run any successful business. You have to decide what business you’re in. You have to decide what your competitive edge is going to be.
Whether you’re selling pizza, egg sandwiches or whether you’re Wal-Mart. The most profitable businesses know what they want to be, Same for the most profitable traders.
They focus all of their energy in that direction. You can’t be everything to everyone. And you can’t trade every style. When your focus is scattered, so are your results.
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Choose to be good at something. And then master it.
As a trader, you have to ultimately get to the point where you’ve worked hard enough to say this strategy makes sense to me and this edge makes sense to me and be Okay with only trading that edge and ignoring everything else — because everything else is not your edge.
You have to know, you NEED to know, the only way to make money is eventually to trade your strategy with conviction.
And when I finally got to the point where I said I don’t need to know everything, I just need to know what makes sense to me and then game plan every day my strategy, trading completely takes a different turn for you as an individual because now, every day, you expect to make money, it’s just a question of how the market unfolds.
And you won’t make money every day but you will expect to, if you follow your plan but you have to make a commitment to that plan.
So, when I made a commitment to my strategy that made all the difference in the world.
Your strategy keeps you sane in a tough market because the chaos slows down. When you’re looking for something specific, you’re never lost.
