According to this guy, who is a trading&performance coach for professional traders, it usually takes atleast 4 years to become consistently profitable. This is an industry professional, and not a guru selling trading courses online, so the information is probably somewhat accurate, or atleast better from the far fetched of those selling you dreams.
So my question is: What keeps someone going for 4 years without seeing significant results?
If you reply, you should clarify where your trading stands - are you trading for a living or if you are still trying to figure it out.
What kept you going(or what is keeping you going)? What motivated you? How you motivated yourself?
Achieving something usually feels good and releases the dopamine, which serves as good motivator as you want more and it keeps you going.
But when it comes to trading, there will probably be no meaningful achievements in terms of PNL(unless you get lucky). Perhaps even the opposite. The road is full of obstacles and you are getting crushed loss after loss. That's not very motivating, is it?
Probably the most obvious answer is it takes a certain kind of character who never quits, that will perservere through the tough times, stay optimistic and have a strong belief in themself that they will make it.
How do you motivate yourself through the tough times, through the routine and sometimes tedious tasks like journalling and reviewing your trades? How do you(or did you) grind your way to success?
I would like to hear your opinion.
One of the ideas i had in mind and am currently testing out is to pay myself no matter what. If i follow the process, if i go through the routine, do the journaling , review the trades, prepare myself on a weekly and daily basis, execute the trade properly..... Every task has it's own reward that i credit to myself once completed. Rewards also increase if tasks are executed consistently every day and they compound to encourage the consistency in executing the process(which is the key IMO). I pay myself if i do the work, no matter if the trade works out or not, or if i make no trades at all. This also makes you more focused on the process and detaches you from the outcome which is out of your control. And if you follow the process the results should follow.
So my question is: What keeps someone going for 4 years without seeing significant results?
If you reply, you should clarify where your trading stands - are you trading for a living or if you are still trying to figure it out.
What kept you going(or what is keeping you going)? What motivated you? How you motivated yourself?
Achieving something usually feels good and releases the dopamine, which serves as good motivator as you want more and it keeps you going.
But when it comes to trading, there will probably be no meaningful achievements in terms of PNL(unless you get lucky). Perhaps even the opposite. The road is full of obstacles and you are getting crushed loss after loss. That's not very motivating, is it?
Probably the most obvious answer is it takes a certain kind of character who never quits, that will perservere through the tough times, stay optimistic and have a strong belief in themself that they will make it.
How do you motivate yourself through the tough times, through the routine and sometimes tedious tasks like journalling and reviewing your trades? How do you(or did you) grind your way to success?
I would like to hear your opinion.
One of the ideas i had in mind and am currently testing out is to pay myself no matter what. If i follow the process, if i go through the routine, do the journaling , review the trades, prepare myself on a weekly and daily basis, execute the trade properly..... Every task has it's own reward that i credit to myself once completed. Rewards also increase if tasks are executed consistently every day and they compound to encourage the consistency in executing the process(which is the key IMO). I pay myself if i do the work, no matter if the trade works out or not, or if i make no trades at all. This also makes you more focused on the process and detaches you from the outcome which is out of your control. And if you follow the process the results should follow.
