Thought of the Day

“It may help to keep in mind that no one said that this was going to be easy. This doesn’t mean that the basics are not simple but like all fascinating and captivating games, the actual practice is far from easy. Embrace this, for this is exactly why it’s worth playing and trying to master.”

– 50Pips

Thought of the Day

“You should never be in a position where the outcome of one single trade could change your life; neither for the good, nor for the bad. Once you really internalize this – and it’s a lot harder to do than it may seem on the surface of things – then you are ready to start working on consistency and longevity in a professional manner.”

– 50Pips

Thought of the Day

“As strange as it may seem, you need to be open to learn and ready to move to the next level. Sometimes, the time is just not right. Be patient, learn to walk before attempting to run and the path should end up being that little bit smoother…”

– 50Pips

Thought of the Day

“In order to put yourself in a condition to succeed, it’s imperative to have realistic expectations.”

– 50Pips

Thought of the Day

“Goal setting is a lot harder than it may seem. For a lot of people, consciously or not, there is a real struggle between setting goals that are either too easy or completely unrealistic. It’s important to set smaller milestones in the context of a bigger picture/plan.”

– 50Pips

Thought of the Day

“If you are trading scared, you should not be trading at all. Go back to the drawing board, get back to basics. There is no point in making things harder than they should be. You can lie to yourself on the surface but not deep down inside. If you don’t really know what you are doing, you will probably not be feeling comfortable and this should not come as a surprise.”

– 50Pips

Thought of the Day

“Remember that the real edge is at extremes because that is where asymmetric risk/reward comes into play.”

– 50Pips

Thought of the Day

“Fear, greed and getting angry will only distract you. These emotions have a tendency of ‘switching off’ any kind of mechanical / studied approach and triggering rash behavior that only detracts from the proper execution of the task at hand.”

– 50Pips

Thought of the Day

“Don’t be obsessed about catching the perfect trade or being flawless. All good traders continue to make mistakes and don’t focus on picking tops or bottoms. It’s about continuous improvement, consistently taking something out of the market and thereby having a long career.”

– 50Pips