My best trading advice:
Trading takes time.
It's a process, and it can be frustrating. You won't get it right the first time, or even the secondโand that's okay.
If you're willing to put in the effort, you'll get there eventually.
1/20
It's a process, and it can be frustrating. You won't get it right the first time, or even the secondโand that's okay.
If you're willing to put in the effort, you'll get there eventually.
1/20
Trading is all about good execution.
You can have the best strategy, but if you don't execute it well, you'll never be able to make money.
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You can have the best strategy, but if you don't execute it well, you'll never be able to make money.
2/20
Discipline is the single most important trait of a successful trader.
If you can't discipline yourself to do what needs to be done, no amount of education or training will help.
Without discipline, you're just a gambler.
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If you can't discipline yourself to do what needs to be done, no amount of education or training will help.
Without discipline, you're just a gambler.
3/20
Successful traders are confident because they know what works for them and they stick to it.
They don't let themselves get distracted by other people's opinions, because those things don't matterโthe only thing that matters is how well you can execute your own strategy.
4/20
They don't let themselves get distracted by other people's opinions, because those things don't matterโthe only thing that matters is how well you can execute your own strategy.
4/20
It's easy to get down on yourself when you're losing moneyโit happens to everyone.
But if you're too hard on yourself, you're likely going to make mistakes that will cost you even more money.
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But if you're too hard on yourself, you're likely going to make mistakes that will cost you even more money.
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If you want to become a great trader, it's important to learn how to think independently rather than relying on outside sources of information at all times.
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6/20
The best traders have an eye for detail and a strong sense of intuition.
They can see patterns emerging in the market and act on them before anyone else even knows what's going on.
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They can see patterns emerging in the market and act on them before anyone else even knows what's going on.
7/20
When you're a trader, you have to be resilient.
This means that when something goes wrong, you can't let it get you down. You need to be able to bounce back and keep on going.
8/20
This means that when something goes wrong, you can't let it get you down. You need to be able to bounce back and keep on going.
8/20
You have to be willing to wait for the right moment, and then you have to be able to act on it when that moment arrives.
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9/20
As a trader, you need to be able to adapt and shift gears quickly.
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10/20
Good trading isn't about making money fast, it's about making steady progress over time.
11/20
11/20
No trader is perfect, and everyone has losing streaks.
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12/20
Good traders don't worry about their positions every single moment of every day.
They focus on the bigger picture and let their positions work for them.
13/20
They focus on the bigger picture and let their positions work for them.
13/20
You should never feel rushed to make a decision. That's how you end up making bad trades and losing money.
14/20
14/20
Successful traders know how to take a loss without letting it get them down.
They know how important it is to keep things in perspective and not let one bad trade ruin their whole day or week.
15/20
They know how important it is to keep things in perspective and not let one bad trade ruin their whole day or week.
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The moment you start thinking about how much money you can make, you're setting yourself up for failure.
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The hardest part of trading is handling the emotional toll it takes on you when things go wrong (and they will).
The best traders focus on moving forward with their goals instead of getting stuck in self-doubt or regret.
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The best traders focus on moving forward with their goals instead of getting stuck in self-doubt or regret.
17/20
To be great at trading, you need to put in the time and effort.
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18/20
The best traders are lifelong learners. They never stop learning, and they never stop working.
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19/20
Finally, trading is hard enough without beating yourself up for making mistakes. Cut yourself a break and learn from the experience.
20/20
20/20
If you enjoyed this thread:
1. Follow me @NickSchmidt_ for more.
2. RT the tweet below to share this thread with your audience.
3. Have a great Friday. ๐
1. Follow me @NickSchmidt_ for more.
2. RT the tweet below to share this thread with your audience.
3. Have a great Friday. ๐
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