I have noticed that one of the most searched topics in the industry relates to strategies on how to win a steady income over a limited period - How to make 100$ a day or 10.000$ a month.
Everywhere you look someone tries to sell some fortune cookie strategy that will make you a sure gain over a certain period.
So why do new traders frequently look for the same approach?
Is it because they want to exchange the time spent on a 9 to 5 job with a time in the markets with a sure, steady income? I can’t tell, but the mindset is similar.
Trading and long-term investing call for another attitude because here you don’t exchange time for money. You are not logged into markets for 4 hours and effortlessly earn yourself some dollars. Some days you win more than you have expected but in some minutes could wipe out your portfolio.
What I am trying to say is that you should never consider the markets as a sure deal for exchanging time over money.
Also, if you still struggle to find a flawless strategy by looking at the best technical analysis or hit rate system maybe you should reevaluate your approach.
The reason one looks for a sure deal is deeply ingrained in our self-protection mechanism.
First, there is this fear of getting hurt by losing a position, which each of every one of us experiences, so our mind seeks to overcome this anxiety by looking for a certain, no-risk deal.
This straight line of flawless strategy can save us from being exposed to dangerous circumstances.
At the first level of understanding, you search for these plans of trading, just to protect yourself from suffering. But to win, one needs guts. As the saying – No guts, no glory.
Also, trading setups offer you another kind of gain which is based on momentums, that can occur under a certain period. There can be days, maybe weeks, or even months with slow trading moves and barely any opportunities, but that should not leave you defeated. Because in many situations, the honor goes to the person who is the most patient.
So don’t get discouraged about not winning every day.
Everywhere you look someone tries to sell some fortune cookie strategy that will make you a sure gain over a certain period.
So why do new traders frequently look for the same approach?
Is it because they want to exchange the time spent on a 9 to 5 job with a time in the markets with a sure, steady income? I can’t tell, but the mindset is similar.
Trading and long-term investing call for another attitude because here you don’t exchange time for money. You are not logged into markets for 4 hours and effortlessly earn yourself some dollars. Some days you win more than you have expected but in some minutes could wipe out your portfolio.
What I am trying to say is that you should never consider the markets as a sure deal for exchanging time over money.
Also, if you still struggle to find a flawless strategy by looking at the best technical analysis or hit rate system maybe you should reevaluate your approach.
The reason one looks for a sure deal is deeply ingrained in our self-protection mechanism.
First, there is this fear of getting hurt by losing a position, which each of every one of us experiences, so our mind seeks to overcome this anxiety by looking for a certain, no-risk deal.
This straight line of flawless strategy can save us from being exposed to dangerous circumstances.
At the first level of understanding, you search for these plans of trading, just to protect yourself from suffering. But to win, one needs guts. As the saying – No guts, no glory.
Also, trading setups offer you another kind of gain which is based on momentums, that can occur under a certain period. There can be days, maybe weeks, or even months with slow trading moves and barely any opportunities, but that should not leave you defeated. Because in many situations, the honor goes to the person who is the most patient.
So don’t get discouraged about not winning every day.