It’s really important to have realistic expectations if you want to put yourself in a condition to succeed.
Many can talk the talk but few can translate it into a decent track-record.
Ultimately, leverage kills. Once you understand and control that, you can get away with a lot and still be around to fight another day.
What we are trying to do is simple but definitely not easy. You need a mechanical process and a lot of discipline.
Make sure you have a very good understanding of bet size and how that affects the translation of your edge.
Remember that if you get your bet size wrong, you could end up with a negative P&L even with a guaranteed mathematical edge.
In order to really make a step-change in your trading journey you have to make a conscious decision to be honest with your progress and accept full accountability for your actions.
Fear, indecision, uncertainty and related emotions all tend to be linked to a lack of domain knowledge coupled with unrealistic expectations.
The more you work on your overall domain knowledge, the less room there is for these emotions to get in the way of you executing the task at hand.
As hard as it may be for most to fully grasp, remember that you don’t know what you don’t know. Keep an open mind and always be ready to question your assumptions.
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 – then you are ready to start working on consistency and longevity in a professional manner.
Trading is an extremely hard way to make a living. Don’t let anyone tell you it can’t be done but equally, don’t let anyone give you the false impression that it is easy, that there are shortcuts or magical formulas.
If you are serious about attracting Investor Capital/finding Investible Strategies please check out our dedicated Darwinex page.
If you are interested in attending a live daily morning call or a more detailed discussion on the charts we post / trade ideas, don’t hesitate check out our Premium content.
As usual, I like to do a little something for blog readers / email subscribers to thank them for their support and to that effect, I am giving you a heads up on the fact that next week will see a price increase for the Daily Webinar Subscription and the Daily Webinar + Update Videos COMBO.
In case you were thinking about signing up, this is a chance to lock-in the current rates.
As a reminder, subscribing locks you in at the current subscription plan for as long as you remain an active subscriber.
Please note that any news subscriptions from now into the weekend will be processed on Sunday before we open for the next trading week.
If you are serious about attracting Investor Capital/finding Investible Strategies please check out our dedicated Darwinex page.
If you are interested in attending a live daily morning call or a more detailed discussion on the charts we post / trade ideas, don’t hesitate check out our Premium content.
If you are serious about attracting Investor Capital/finding Investible Strategies please check out our dedicated Darwinex page.
If you are interested in attending a live daily morning call or a more detailed discussion on the charts we post / trade ideas, don’t hesitate check out our Premium content.
> Review of recent price action and a look at what we can expect to see.
> The purpose of these sessions is to show participants how we can use a simple approach to construct a clear understanding of market dynamics and trade set-ups.
> I will not be making trade calls or recommendations, the sessions should be seen as an informal discussion between experienced and novice traders.
> AMA / Open Q&A for participants.
No need to register, not looking to collect email addresses, will be LIVE even if no one shows up. Just click on this link > https://www.youtube.com/user/50pipsfx.
If you are serious about attracting Investor Capital/finding Investible Strategies please check out our dedicated Darwinex page.
If you are interested in attending a live daily morning call or a more detailed discussion on the charts we post / trade ideas, don’t hesitate check out our Premium content.
> Review of recent price action and a look at what we can expect to see.
> The purpose of these sessions is to show participants how we can use a simple approach to construct a clear understanding of market dynamics and trade set-ups.
> I will not be making trade calls or recommendations, the sessions should be seen as an informal discussion between experienced and novice traders.
> AMA / Open Q&A for participants.
No need to register, not looking to collect email addresses, will be LIVE even if no one shows up. Just click on this link > https://www.youtube.com/user/50pipsfx.
If you are serious about attracting Investor Capital/finding Investible Strategies please check out our dedicated Darwinex page.
If you are interested in attending a live daily morning call or a more detailed discussion on the charts we post / trade ideas, don’t hesitate check out our Premium content.
