“It may seem counter-intuitive but the truly great achievements come from setting small goals/targets and repeatedly delivering on them not but setting unrealistic goals and exposing yourself to the inevitable failure that will result from consistently playing from a position of weakness.”
– 50Pips
“Even if you are a discretionary trader, this does not mean that you can consistently get away without having a systematic approach to the actual execution and management of your trades.”
– 50Pips
“This is a marathon, not a sprint. The markets aren’t going anywhere; take your time and do things the right way. Taking repeated highly leveraged shots at low liquidity binary events is not going to result in a solid long term track record.”
– 50Pips
“An overriding theme to keep in mind is: ‘this is not a game, it’s a business’. Be solid. Be professional. Be realistic with your expectations. It’s not about big p&l and emotional swings; it’s about consistency and longevity.”
– 50Pips
“Keep in mind that self-sabotage, whether conscious or subconscious, is probably at the center of most issues you will face in your trading journey. Furthermore, the root cause of this self-sabotage is usually linked with a very basic lack of domain knowledge coupled with unrealistic expectations. ”
– 50Pips
“Easier said than done but once you have set yourself up with a realistic road-map; you just have to stick to your rules, plan and set-ups. That’s the hard part. No fancy things, no bells and no whistles; do more of what you do well and less of what you don’t do so well. Never underestimate how hard it is to get used to just showing up day after day and monotonously implementing your strategy.”
– 50Pips
“Make sure you understand the basics and then find out what works for you. Don’t be in a hurry, give yourself time to learn and put yourself in a condition to give this a real good shot. If you are wired to trade, this is a great profession. If you are not, then there are a lot of other things to do in life.”
– 50Pips
“What we are trying to do is speed up the learning curve. The good news is that it’s really not that hard to understand the basics but on the other hand, the difficulty lies in being able to internalize these basics and stay on-track in a live trading environment. The basics never change but our emotions have a tendency to try and cloud our judgment.”
– 50Pips
“There is no reason to swing for the fences every day. It’s about showing up, come rain or come shine and playing the best you can with the hand you have been dealt. You don’t need to be perfect and you don’t need to hit 100%. However, what you do need to strive for is to do more of what you do well and less of what you don’t do so well. Slow and steady; keep on moving in the right direction.”
– 50Pips
