I’ve been in the coaching arena of trading since 2013. One of the biggest misconceptions I see constantly from new and/or struggling traders is this: I need to make large winning trades in order to be successful.
While this mindset and understanding of trading is completely false, I understand where it comes from and why it exists.
The Corruption of the Trader’s Mind
The trading education market is filled with the typical late-night infomercial marketing tactics that focus on fancy cars, houses, exotic vacations, Rolex’s, etc.
To assist in this illusion they create, these marketing gurus focus lots of their talk on large winning trades. And when I say “large”, if the amount is anything less than four digits in size, then forget about it. Not good enough!
This combination leads to the beautiful sounding marketing sales pitch of “I just made $7,000 while sitting on my balcony of my luxury suite overlooking Paris.”
The marketing then goes something like this, “Follow me for (insert way overpriced dollar amount) and I can do the same for you!”
When people seeking to learn how to trade are bombarded by only seeing large size winners, it corrupts their mind into thinking, “Successful trading means I have big size winning trades”.
My Attempt to Detox Your Mind
I’m here to tell you, the size of your winning trades DOES NOT MATTER.
Get that into your mind right now and never let go of it.
When you are focused on the aspects of trading that truly matter such as trade plan formation and risk management, the rest takes care of itself.
I am well aware that “trade plan formation” and “risk management” are not nearly as sexy as “drive a Lamborghini” and “travel around the world”, but whatever, it’s the truth.
My goal is to hopefully inspire you and detox your mind by showing you my past month’s trading.
I realize that some people are going to say “wow you are not a good trader” because, as you will see below, there is not a single four digit winning day… not a single one!
So, in their minds, they will say I suck and am wasting my time. I wouldn’t be shocked if a few of the marketing gurus take a swipe at me either.
Before you look at the results, I’m telling you right now, compared to what you are used to seeing from the late-night marketing tactics, it is going to be very anti-climactic.
If you are looking for some $50,000 or $100,000 month, then wow, please stop reading now!
90 Minutes a Day of Trading
To provide some overall context, I am essentially a part time trader.
With my trading education business, trading community, real estate and a few other ventures, I don’t have the time nor the desire to sit glued to my screen for hours every day.
What can I say? I enjoy being able to go hang out with my family whenever I want or go workout during the day.
So, keeping the above in mind, here are the results of trading as a part timer with on average 90 minutes per day (click the image to enlarge).
Also, if interested, you can GO HERE and watch one of these morning trading sessions live from this particular point in time. If you don’t care about the time per se and just want to watch some live trading in general, then I offer many live trading videos HERE.
As you see in the far-right hand column, not one day with a four-digit gain.
Does it happen? Absolutely. When it doesn’t happen does that mean you aren’t making a good trade? No!
The point that I’m trying to illustrate is to take what the market gives you. I want my “small” trades to inspire you to follow your plans, use your tools how they should be used, and don’t let losing trades spin out of control.
At the end of the day when the closing bell rings, you may not have some gigantic number looking you in the face, but over time, the numbers will add up.
Stop being so hard on yourself because your wins are not matching what the guru’s marketing sales pitches are showing you.
Consistency is the name of the game, and when you focus on the aspects of trading that allow you to get consistent, the numbers fall into place on their own.
Stop wasting your time worrying about how big your winners are, and start spending your time taking advantage of the opportunities that the market gives you.
Focus on implementing systems and strategies that will allow you to obtain harmony in your trading and let the “small” winners add up over time.
If you are interested in learning more about the areas of the market I focus on to bring consistency to my trading, I am offering a free (and live) training that you can register for HERE.
Because it is live, seats are limited so if you want to put yourself on the pathway to trading consistency, claim your seat!
I look forward to seeing you there!