Are you dreaming of becoming a consistently profitable trader? Well then, it’s time to pay attention…
Here’s the harsh truth: there’s no set timeline for trading success. It varies from person to person.
However, it’s important for every aspiring trader to understand what it takes to succeed.
Trading is extremely difficult. Remember that 90% of traders FAIL…
Why is it so hard? Because, unlike other jobs, there’s never a guarantee that you’ll make a single cent in the market.
Additionally, trading success requires you to go against your innate human emotions and make objectively correct decisions.
While this is much easier said than done … it’s certainly not impossible.
And speaking of trading success … my buddy Matt Monaco, who’s earned nearly $2 million trading, has a very exciting event coming up…
TOMORROW, March 23 … Matt is hosting a special broadcast where he’ll reveal a brand-new, cutting-edge trading strategy that’s netted him returns of 197%, 233%, and even 806% … in just a few days’ time! Click here to sign up NOW!
Now that you’re signed up, how can you set yourself apart and become part of the consistently profitable minority of unflappable traders?
There’s a lot more to it. Keep reading and I’ll show you…
Don’t Rush Your Journey
Over my 10+ years in the markets, I’ve noticed a few key areas of focus that separate the traders who win from those who lose.
So, first and foremost … don’t rush your trading journey.
It’s easy to get impatient with your progress, but this is a mistake that can cause you to make trades you shouldn’t.
Bottom line: Setting arbitrary timelines and profit goals is a recipe for disaster!
The market goes through cycles, heating up and cooling off (as will your trading)…
If you’re focused on a specific financial goal, you may be tempted to trade subpar setups that don’t fit your strategy.
(This is how traders can dig themselves into a deep hole, one that they may never get out of…)
Instead of worrying about the pace of your account growth, focus on developing the right strategy for your game plan.
Be patient with your progress. It won’t be easy, but if you take your journey one step at a time … the destination will be worth it.
(Take me, for example … In the beginning, my only goal was to make enough money trading to quit my job as a general accountant. Today, I’ve made $4 million+ trading stocks and options!)
Think Like a Trading Robot
As a trader, making a fortune in the markets may be your ultimate goal.
Just thinking about the possibility of making major gains might cause a flurry of emotions within you…
But here’s the thing — emotions are the enemy of trading success. You need to divorce yourself from them completely.
Of course, it’s only natural to experience a burst of emotions when your hard-earned money is on the line…
But this is where you need to practice restraint and snuff out any emotional impulses that threaten to hijack your trading decisions.
And, trust me, it’s not just you. Even the most seasoned traders (like me), can succumb to emotions.
That said, if you want to be truly successful in the stock market, you need to think like a high-frequency trading robot — with an unstoppable determination to make as much profit as possible by any means necessary.
Now, you might be thinking, “I’m human. I can’t completely shut off my emotions.” And that’s true…
But the more you can emulate a machine-like mindset in the markets, the more likely you are to experience major success.
Bottom line: Trading emotionally is a losing game! If you want to give yourself the best chance to maximize your returns, take a cue from the machines and keep your emotions in check.
Remember That The Market Isn’t Fair!
Another important aspect of trading is understanding the harsh realities of the market.
Like life, the market isn’t always fair…
You can trade the perfect setup with a massive catalyst and still lose money!
Bottom line: The market doesn’t care about you or your capital!
Trading requires a unique mindset. Success is far from guaranteed.
That said, you can succeed as a trader with the right work ethic, patience, and risk tolerance.
This is exactly why Tim Sykes, my mentor who taught me everything I know about the markets, has dedicated his life to teaching aspiring traders how to navigate the markets.
Sykes has never worked a ‘real’ job in his entire life. Instead, he’s worked with thousands of aspiring traders over the years.
Additionally, he’s created an arsenal of educational materials for aspiring traders. (I started in Sykes’ Trading Challenge.)
So, set realistic goals based on your personal progress, not daily or weekly profit goals.
I’m not gonna sugarcoat it … the journey to consistent profitability can be lengthy and challenging. But it’s completely within your reach.
So, don’t compare yourself to others or make excuses. Focus on what’s in your control and learn how to harness your skills to your advantage.
And above all, be prepared for the long hours of hard work and uncertainty that come with the territory.