I just reached my 6 month anniversary of starting this journey and I have been taking a break from paper trading and the markets to review the data I have collected. I have been watching many video lessons, How to Make Millions, and various other videos about trading. I watched one from Youtube called, "20 Habits of Highly Successful Traders" by Dave Westgate. It was a pretty great video that highlights the things that distinguish a successful/wealthy trader from the rest. One of the 20 habits was that they have an edge that they could explain to their mother.
Yesterday I got together with an old friend that I hadn't seen since before I started my journey. She asked me what "the whole trading thing" was about. I started to explain that I am spending lots of time looking back at my trades right now. She asked, "Well, isn't it always changing? Does looking at the past even help?" I chuckled a little in my mind. Then I proceeded to explain to her that what I am learning was that the stocks and companies themselves may change constantly, but, that the mentality of the traders never does. It's fear and greed in chart form. Looking at the past allows me a view into a stock's important price points as support and resistance levels. That history of the markets and stocks gives me very valuable information that helps me make predictions that will make me money.
I explained a little more about the speed of things and the hours I generally put into preparation before the market open and the hours spent watching the markets. She was a bit put off by the idea of paper trading because it seemed like a lot of time put into something that didn't really give you much. (I mean, you're not making money for months!) She wondered if there was an easier way to learn it, like reading a book. Again, I chuckled a bit.
I explained that there are just some things you cannot learn unless you get into the markets and practice trading in real time. I made the analogy of a construction worker reading all the books on the subject for his training and then going to work on the first day to find that he can't drive a nail without bending it because he hasn't yet had the hands on experience to know the sort of force he needs to apply behind his hammer.
She started to understand. But, she concluded that she could "never do it" because the pace and gravity of it would overwhelm and give her anxiety. I understood why she felt that way. Just seven months ago I would have never thought I could take the first steps of the journey, let alone come this far. I told her she might surprise herself if she tried.
Ultimately this conversation caused me to feel something significant about my journey. That I am finding my way, progressing, and doing something hard, but making it a step at a time. I know if I never give up I will be successful, and in many ways, I already am.
~Never Give Up~
Little Side Rant: I also decided to stop following Tim Sykes on Instagram and it feels much better. This is for my own mental sanity and to keep me from getting frustrated with his asshole persona. I just don't understand the point of having female models in thongs traipsing across Africa chasing down animals with a charity. That's just not the right image, Tim. It doesn't motivate me as a woman (and I have had many relationships with women). I just think this is hurting your ability to bring in higher caliber people and specifically in motivating women to want to be your students. So, simmer down, Tim. Please and thank you.
THanks!
For the older generation, it is pretty hard to understand how we can make money with trading. I have read at https://edubirdie.com/examples/gender-equality/ that the world of finances was full of discrimination earlier, but it is fine now. I want my mother to start learning how to trade but she is sure that it is only for man, so I really want to change her perception.
Exploring literature review services like those offered at https://www.litreview.net/ can be incredibly beneficial for students and researchers. This site provides expertly crafted reviews tailored to meet your specific academic needs. It’s vital to choose a service with positive testimonials and a reliable track record to ensure you get high-quality results.
Academlead is an excellent resource for students seeking academic support. Their comprehensive range of services, including essay writing, research assistance, and tutoring, is designed to cater to diverse academic needs. The team of experienced writers and educators ensures high-quality, plagiarism-free work tailored to each client’s requirements. What sets Academlead apart is their https://academlead.co.uk/ commitment to meeting deadlines and providing personalized service. Students can acce
Join now or log in to leave a comment