There can be more and more trading growth – by doing the simple things.
You don’t have to get complicated right away. You can do so much with the simple things. The simple concepts.
There was a college basketball coach who did not start teaching players how to do layups or defense. He started teaching how to tie their shoes!! Why would he do that? Don’t they know already? Don’t the 18-21 year olds, know how to do that? They have all this energy, all this excitement of youth, all this raw speed and strength. Why can’t they do their shoelaces right?
But still, the coach knew that despite knowing the athletes were talented, taught them how to tie their shoes. He knew their mind powers and awareness was not fully developed yet and taught them how to tie their shoes.
Similarly, when I was watching a high school basketball game, I noticed that the players, some of them were very tall and very strong and very fast. But still, they suffered from inhibitions. Since I am older than them and went through that stage, I could tell they were playing with a lot of fear. They had so many missed opportunities, so many unnecessary turnovers, etc. Their maximum potential was surely greatly reduced because of the lack of awareness of doing the simple things right. They mind power was not fully developed yet. They were certainly not as polished as the Golden State Warriors.
Therefore, we can apply this example in the trading world as well.
Doing the simple things can lead to progress and profits. That is what a trader seeks:
Progress and Profits.
Doing the simple things like if you opt in to get a free report, you actually download it and read it. Take the time to read it in full and gain knowledge. If you can’t do it that same day, set aside time at the end of the week to do so.
If you invest in a trading course, set aside time to consume it. And then implementation plan the following week.
To boost your confidence there are Apps you can download where you rejoice in the little daily wins you get. You write them down every day. And try the next day, the next week to write down even bigger ones that you accomplished. Some traders are in such a state where they could benefit greatly from this activity.
Just recently, a member sent me emails over a month or so asking various questions. I could tell he kept asking better questions. He was getting smarter and more skilled every week. And after a month or so, he said he finally nailed a good trade and made money.
That’s how it is done! He deserved every dollar of profit. He earned it.
Taking all you know, implementing it this current week. Having a bunch of questions that you would like answers to. Getting the new knowledge and perspective. And then trying again the next week. That is a pretty good and simple plan – that we all can do.
Doing simple things like starting and finishing a trading book, and not leaving it 10% read for a year or two. Actually finishing it.
Doing little things like writing down what big moves happened over the past month and finding out why.
These little things can and do add up to trading skill and ultimately to trading profits.
Often times a “low tech” approach can be better than a “high tech” approach.
If someone cannot do the simple things, what makes them think they can place a great trade and make a +40% return -and actually keep the money? If you can’t do the simple things, then what makes someone think they can trade at a very high level with full mastery of the information flow and global macro?
I had to start with some simple things.
There were times in my first year or two, where I would be spending dozens of hours on the trading forums. What the heck was I doing? I was spinning my wheels. If I sought wisdom – in how and why prices moved. If I dedicated time to gaining wisdom, then the following week could have gone better. I would have been spending the same amount of time. I just had to “switch” the time to gaining wisdom, rather than listening to the B.S. in the trading forums.
And don’t fall into the trap of thinking that you automatically have to spend $5,000 or $10,000 to succeed in trading. Spending it on data feeds, those news services, this and that, etc.
Well, sometimes you don’t need that.
You can make great progress, attain great skill starting with little to no cost, like some of the things mentioned above.
Of course, if you desire even faster progress, invest in yourself. <<