Just like with any other job, the longer you stay in it, the better you’ll get at it.
Trading is no different…the longer you stay in the game, the more you will improve….that’s as long as you learn from your mistakes of course.
What is your best chance to stay in the game long enough?
It is by taking calculated risks. For me this means taking small bets (risking a small amount of trading capital on any given trade) using a proven trading strategy (strategy with an edge).
This is especially for those traders just starting out.
Why?
Because normally we start out trading some strategy we found somewhere that promises a “95% win rate” while taking excessive risk. This usually ends with us blowing our accounts. Then we quit because of lack of capital or we think trading is a scam or we think that the markets are rigged (or something of the sort).
My point?
My point is we normally quit too soon.
Whatever the reason for quitting… we normally don’t give ourselves enough time to learn the game of trading. We don’t give ourselves enough time to:
- Trade through good and bad market environments
- See whether trading is something we truly want to pursue
- Test our limits mentally and emotionally
- Learn from our mistakes
- See what trading really is like and all it has to offer
Right now you might be struggling as a trader for whatever reason, but don’t give up… don’t quit. Give yourself a chance to see if trading is for you…make sure you last long enough.
Start by not taking big risks…trade small so you last long enough to give yourself a fair chance.
Thanks so much for reading. Hope you and the family are safe and well.
Thanks and Regards,
Trading SOS SOS