Hey what’s up Profitly. Last week I was able to attend the Trader Bootcamp with Sykes, Roland Wolf, Mark Croock and Bryce T. During that bootcamp, it was cool to see the amount of committed people focus on his or her trading journey. Many of us are driven by different reasons and goals, but we all have a respect for mentorship and the market.
I was able to learn from a few amazing traders and different ways to prepare for the trading day and market. I was able to see patience on one end and high volume trading on the other end. The market has many ways to extract money from it, and figuring out the strategy that best suits one’s personality and schedule becomes the winning edge to then implement your consistency.
so how do you get prepared your wondering!? How do you when to execute your plan!? Who can you learn from to speed up your learning curve?
well it all begins with a few simple words —- > Cut Losses Quickly!
Research and Study until you Truly understand those 3 words.
cut = correlates to learning and understanding risk management.
losses = being comfortable and building up the mental clarity and emotional fortitude to admit defeat. You cannot Win without experiencing lost. This is the most important word to truly understand. No pain no gain
Quickly = Quickly, so how does this work and how does this fit in. Quickly is actually positioned perfectly b/c this is the last step in your learning curve that MUST BE ACHIEVED AND DOMINATED TO SUCCESS. Let me break it down, quickly is getting to the comfortable point of execution without setback , execution with confidence, execution without hesitation, execution with leadership. Quickly, is executing your trading plan and Strachey . Being patient to wait for the price to come to your entry level . Execute the trade at your entry price, executing the trade at your Target price to get out of the trade. Quickly execute your trade At your cut level if it goes against your thesis.
become a trading Master and never stop learning , Cut Losses Quickly !
@timothysykes
great breakdown of cut losses quickly
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