So the biggest and most destructive trading myth out there is the idea that trading is a shortcut to riches.
Now, I hope most of you reading this will know me well enough by now to know I don’t believe this and I never promise this.
Trading is challenging. It requires a lot of hard work to ever find success, and even then, it’s never a guarantee.
But far too many people out there do!
And I think it’s destructive not only because it gives false promises to people, but also because it tempts people to take bigger, dumber risks than they might otherwise.
After all, if you’re supposed to be able to get rich overnight, then I don’t need to keep tight stops, or find the best opportunities, right?
But that’s silly and dangerous trading.
And it leads to some really disappointing outcomes.
I saw something this week that puts this in a bit more of a comedic perspective:
That poor cat!
The truth is though, some people do find success really quickly. My friend Markay’s story of what she did in her first two years is incredible!
But other people take a long time to find the strategies that work for them.
Like yours truly.
I traded with varying degrees of success for 20-plus years, but it wasn’t until I really nailed “Echo Trades” and started trading it during the crash in 2020 that I saw transformative trading triumphs (haha).
I guess my point is, don’t let anyone else set the timeline for when you “should” see success.
Your trading journey is no one else’s but your own. So stop letting other folks try to define it for you.
Small wins compounding over time. That’s the most realistic path to success in the market.
Hope you are doing well,
Daily Profit Publishing and Jeffry Turnmire do not provide investment advice. Trading involves a substantial risk of loss and is not suitable for all investors. Many traders fail and you should not trade with money you cannot afford to lose. If you need personal financial advice, consult a financial advisor.
We are not licensed to provide you personalized investment advice. Nothing in these communications should be construed as personal investment or financial advice.
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