Episode 1: Elements of Trading Success
Being optimistic that success in trading is possible or the belief that it is possible is absolutely essential because traders must recognize is that trading is a “dance of chance”. Meaning that you can do all the right things and lose, and you can do all the wrong things and win which means just because you took a loss on a trade doesn’t mean you did anything wrong.
If you take the wrong lesson away from that, that can be really problematic for you as a trader.
So you need to be willing to learn. You need to be willing to apply what you’ve learned. You need to have the discipline to do the right thing. You have to believe it’s possible. And then recognize its a dance of chance and be freely willing to accept either outcome. Keep probabilities in your favor. Do the right things. If you win, you win. If you lose, you lose. If you keep doing the right things, you keep making the right decisions eventually in the long-term you will be a winner.
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LISTEN TO THE SHOW
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WHAT YOU WILL DISCOVER
- Importance of self-discipline
- Following your trade plan – Learn how to build a winning trade plan!
- Having integrity with yourself
- Information overload
- Taking action
- Being optimistic, but not too optimistic
FEATURED ON THE SHOW
- Learn more about Trading Performance Membership with monthly coaching opportunities!
- The Elements of Success by Keith Book
Notable quotes:
- “There is no lasting success without self-discipline”
- “It is not enough to know how to do something. One must do it.”
- “In order to win, we have to conceive and believe of success or its possibility.”
