I’ve been studying since May 14. Watching DVDs, writing on sticky notes, trading, reviewing my trades, reviewing top percent gainers – making YouTube videos.
I do this each day, every day – no exceptions.
I don’t go out much – almost never. I can’t remember the last time in four months I spent money in a bar. I’m single and won’t pay for a date so have no hope of meeting a g/f in the short term – I don’t want to – it’s a distraction from my goals.
Trading has consumed every aspect of my personal life outside work – financially, socially, in terms of relationships, everything.
But in early September – after months of learning, I said in a YouTube video things were beginning to click. Now, on the back of two profitable trades I feel this more than ever.
So I want to write this post, before I start consistently making profit. To always remember what it felt like to be a losing trader… and what it takes for you to turn your personal account balance – from red to green.
Learning to trade isn’t gambling or random, it’s studying probability and reaction to emotions on a mass scale.
90% of traders lose, ensuring only 10% win. This means for every trader in the world - nine will washout, quit, become failures - and one will win.
So how do you become that one profitable trader? For me, the answer is obvious, too obvious.
You dedicate more time and resources than anyone else. You study longer, you set month-by-month goals, and you make sacrifices and work harder than anyone else is prepared to. Persistent, consistency pays.
To be the best – you need to eat, sleep, breath and live your dream. If you don’t – quit now and save your bank balance. There will be someone else out there who wants it more than you.
Maybe you require high-intellect to be an astronaut, or extraordinary fitness to be some sort of UFC or boxing star.
But to be a trader, you simply require an extraordinary and remarkable dedication to learning.
About a year ago I felt no sense of self. A lack of purpose. Now I know my identity.
I’m Stephen Johnson. I’m a day-trader.
