That’s something I have never read before. I have always believed in the fact that to become a successful trader, it is only your knowledge that matters and nothing else.
The 5 Steps to becoming a trader
- Thread starter ArmaTrader97
- Start date
Same here buddy!
Discipline is essential. But only if you know exactly what to do - that is, there are clear trading rules (when to enter and when to exit).
It’s funny, since I started my trader journey I’ve read quite the lot on books about intrinsic drives and mastery. Anyways you’re spot on. I switched up my fitness because after covid lockdowns I couldn’t stand being indoors anymore and if I had free time I was going to spend it outside (desire). I took up road biking for pure enjoyment several days a week (desire).
Then comes diet, well here’s the thing there really is no diet but what there really is an underlying adjustment to your relationship of food (Trading — there really is no get rich quick scheme but what is there is a prolonged process that requires you to develop and adjust your beliefs about the market that over time leads to a good career) Eat in moderation, don’t eat because you want something tasty (pretty sure that’s not how humans were designed), eat because you genuinely feel hungry. Btw this still allows you to eat tasty foods and expose you to tastes that you were never aware of because so much of what we buy is spiked with sugar or drowned in HFCS. Actually interesting is that you (well I did) feel as if your taste buds are recalibrating… it’s pretty amazing.
As opposed to 1500 cal diet staying away from any food you might enjoy because it’s, “bad” and then doing things at the gym you really hate but oh man you just wanna lose weight so bad don’t you? Then you fall off after 1 week asking your therapist why you have no motivation and why am I so undisciplined.
For those wondering how this relates to trading, well idk. These are just changes I carried over into other parts of my life from all the things I learned about trading.
Also I got lazy typing and didn’t link a trading similarity for every “Diet” routine. I guess you could say that I… lack discipline
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in fact, there may be more and less such steps, it all depends on the trader himself and his ability to understand the principle of work
I remembered myself while reading these tips.
That is a very unique and accurate approach to the mental side of trading. I believe that everybody heard the phrase that there is only 1% of traders who remain successful in the long run and 99% of traders lose all their money. So, I believe that the hardest thing for a newbie is to move from unconcsious incompetence towards conscious incompetence. Everything looks very simple before you start trading and you have the impression that you know the basics of how to make money on trading, however, when you lose, you experience despair. I believe that it has some corelation to the thing that it is hard to admit your personal mistakes. That is why so many people shout that forex is a scam: because they thought that it was easy to gain profits but they failed and there is noone to blame except from themselves.
That is a very unique and accurate approach to the mental side of trading. I believe that everybody heard the phrase that there is only 1% of traders who remain successful in the long run and 99% of traders lose all their money. So, I believe that the hardest thing for a newbie is to move from unconcsious incompetence towards conscious incompetence. Everything looks very simple before you start trading and you have the impression that you know the basics of how to make money on trading, however, when you lose, you experience despair. I believe that it has some corelation to the thing that it is hard to admit your personal mistakes. That is why so many people shout that forex is a scam: because they thought that it was easy to gain profits but they failed and there is noone to blame except from themselves.
many newbies need a lot more steps and time to become a normal trader with adequate profit!
Yes, you can't build a great building on a weak foundation.