The other day, in my Discord server’s “#trader-talk” channel, I had a few traders asking me some questions about brands and strategies they were thinking about trying.
More generally, they were asking what they need to change to start seeing the success they want to see.
And I have them a tough answer, but one I think is so important.
I wanted to share that with you today.
This is what I said:
“Nobody wants to hear it, but there are a lot of broken traders out here trading.
I used to be one… trying to force things to work, looking for the magic that doesn’t exist.
If what you are doing isn’t working for you, you’ve got to pull it back to a manageable place for you (you are the only one that knows what this is for you) and work out each piece as you can handle it.
Trading isn’t a race. If it was, you already lost before you got started.
I still try out new things all the time. I try to place a new trade 30+ times before I really start scaling in on it.
Doing the same thing over and over and expecting different results ← some call that crazy.”
I think that’s a challenge that not a lot of people want to hear.
People want to believe that trading is easy and that they just haven’t found the one strategy that really works yet.
When in fact, quite the opposite is true:
There are a lot of strategies that can work. Usually, we as traders are the obstacle to their success. We let emotions cloud our judgment, we make bad decisions, and we make simple mistakes.
That’s why pursuing trading is about finding that balance between learning new strategies and having the patience to let the strategies really work.
If you try 100 different strategies but only give them each one or two trades, you’ll never find success.
Conversely, if you stick to one strategy forever without seeing results, well, that’s the definition of insanity.
The good news from all this? There really is hope. I know, because I used to be a broken trader.
And I’m not trying to say I’m “perfect” now, but when I look at where I’ve come from, it’s night and day.
I spent years chasing every strategy, thinking that if I just learned enough, I’d eventually be a great trader.
It wasn’t until I stepped back, got really patient, and truly understood how to trade with Fibonacci that I really had a breakthrough.
And now I’m writing newsletters to other traders encouraging them on their journey, so something must be working!
If you’re frustrated with trading right now, take a breath. Be patient. If you’ve been sticking with a strategy forever, maybe it is time to find a new one. But if you’ve just started with a new system, give it time to marinate before you abandon it. That’s a waste of time and mony.
And above all else, have some patience with yourself. Trading is hard, and failing at it doesn’t mean you’re stupid or unworthy. It just means you haven’t found the right formula yet. And maybe your next attempt will be your breakthrough.
Jeffry Turnmire and InvestPub 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.
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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