CONSISTENCY IS EVERYTHING
I just arrived in Sydney last night and to be honest I felt like skipping that post today.
But consistency is something I care about way too much in everything I do.
To be honest, my flight from Brisbane was kind of weird... As the plane landed in Sydney, the pilot pushed the brakes - almost at maximum it seemed.
That lasted only 1-2 seconds... Then, nothing.
And it felt like the plane was still moving fast on the runway without slowing down.
I wondered: "how is the plane gonna stop?" That's actually what most people do... They put a huge amount of effort in the first few days of starting something.
Then, they quit.
Obviously... You can't do that in trading if you want top results!
Instead, you got to put more emphasis in developing sustainable habits in trading & life.
Maybe on day #23, you'll have done the same work than a beginning trader on day #5.
The difference is:
That other trader is gonna quit on day #30, while you'll be consistent with your habits until you become a profitable trader.
You see the point?
Consistency with what you do always goes beyond short-term hustle.
In a plane, consistency on the brakes feels better for the passengers.
In trading, it's how you build a great lifestyle.
Think about how you want to apply this :)
This is a very simple strategy that many people don’t utilize. It can be used by day traders and long term investors. With a stop loss order, you’re asking your broker to sell your shares if the price drops below a certain level. You can do this to limit how much you lose, or if you’re winning, you can lock in your gains! The magic is that it is done without you having to press a button. You don’t need to stress daily checking the prices, plus this prevents impulse decisions.
1 463 days ago
You can go from a bad trader to a good trader after changing this thing only. Afterwards, you won’t believe how simple it is. However, it’s requires a different mindset. The secret? TRY IT🙏
When news ruined what would have been a good trade
Only entry I can find would have been what's shown on the charts based on close of daily candle forming an evening star reversal formation - with no valid 1H chart entry point, or a reason to hold the trade based on the 1H sideways movement
After the initial drop the correction had no structure and although you could argue entering on the break of the structure it wouldn't really make much sense considering the low from the drop sits just to the left along with 0.618 fib
Price has now reached my forecasted target for the week at double bottom area and doesn't look to even be correcting
Price will likely form some shit structure then continue down probably by another load of fucking news
0 trades taken this week, most charts have moved towards my forecasted target but in ways that would have swung back and forth taking you out, or simply trickled their way to the target and produced no entry points
First week I've taken no trades and it's bored the fuck out of me
Pissed off that news has to ruin loads of good setups but in the end this could have easily spiked upwards along with all other nzd pairs
Hopefully markets can move better next week and actually show some valid entry points
This is also why I want to learn how to effectively trade news so I can capitalise on these movements
Elliott waves did suggest a movement down but entering blindly isn't an option as the markets are always changing
Screenshot of analysis from website shows what I was originally looking for but it played out a lot different, and is why I need to find ways to enter the market and ignore the noise so I can capitalise on my knowledge of Elliott waves as I seem to have a lot of success using them with fibonacci over pure price action
1 173 days ago
HOW TO SEE QUICK BREAKTHROUGH IN YOUR TRADING
I just got back from a great meetup with traders I organized here in Brisbane.
If you've made it, it was great to hang out on this rooftop!
I explained something there that I think you should know about... As people, we always have what we could call a "default setting". You could call this your personality or something else.
If we only follow our default settings, we can become great at doing things...but it's likely we won't have big breakthroughs quickly.
At the big picture, if you want to see things shift fast in your trading, you got to practice doing thins outside your "default settings". Here are the different categories: Taking action Problem-solving Relationships Data & analytics
In most cases, a trader (or anyone) is going to be great in 2 of those areas but lack in the other 2.
You can be balanced, but let's say that it's not the case.
For instance, my "default setting" comes down to taking action & solving problems.
I'm really good at that...by nature.
I have no issues in doing things consistently or accomplishing new projects.
Similarly, if I face a problem in trading or life, I'll fix it.
But when it comes to building relationships and analyzing data, that doesn't come naturally to me.
Can you guess how I saw a big breakthrough in my trading?
My results completely shifted when I started to form relationships around other traders.
I went from struggling to "ahah moment" almost overnight simply by hanging around other traders and/or interviewing them.
The thing to remember here is that I had to go outside of my "default setting" to see big results.
And the same goes for you!
Don't just stick to what you're good at in trading and/or life.
Instead, do that, but implement what doesn't come naturally to you so you can see your results skyrocket.
I've seen the same happen with a lot of traders.
Look at the categories above and let's take action toward your goals.
So my question to you is... What do you need to implement in your trading the most?
What's not natural to you?
Comment below and let me know!
HAVEN'T REACHED YOUR TRADING GOALS? (READ THIS)
Earlier today I sat down to upload a few videos.
Here was the result: 111 hours remaining??? I expected maybe 5 hours (at most)! And you know what...it reminded me of my expectations at the beginning of my trading journey.
When I began trading in 2013, I thought it would only take a few weeks before I reach my goals. (having more freedom)
Obviously it took many more years...
So, it isn't a surprise if I tell you I was clueless about what I was doing wrong.
Somehow, we always expect that results will come faster than we think.
I also thought, up to recently, that if I wasn't reaching my goals every year, I was doing something wrong.
What changed my perspective was talking with a mentor who told me: "I rarely reach my goals on the timelines I set. Some goals are reached only months or years later, but that doesn't matter." You see, trying to achieve all your goals in the shortest amount of time with "hacks" is dumb.
For one simple reason... It's not your goals that are important. It's what you become by achieving your goals that counts.
If you've used a hack to get ahead in trading, you haven't really evolved.
But if you've done your due diligence (even if you reach your goal only 2 years later), then you truly got results.
So try to flip things around when it takes you longer to achieve something.
You sometimes just need to keep pushing and developing yourself.
That's how truly great traders are made 💪📈
We got in at 1.23 and closed our position at 1.51. Made a nice quick return at the open today. Let’s get this bread💰
4 305 days ago
Meet our Campus Students - @letslive_j 🎓
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📍He is from Reutlingen, Germany 🇩🇪 __________________________________________
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6 2755 days ago
Started the day off by writing down every single negative thought I currently have and addressing how I plan to overcome these thoughts, rather than letting them manifest and compromise my ability to perform at my maximum capability
Lack of motivation, desire, discipline, determination, vision, accountability, truthfulness, achievement are just some of things that came to mind
I can honestly say I lost sight of the vision and fell out of routine which has caused all of this
I'm not working how I used to, my routine is a mess and my accountability is almost non existent
I know my big goals but unlike before I am not breaking down these goals into smaller short term goals to provide constant motivation and sense of achievement to battle any feelings of doubt
I also believe that growth in most aspects of my life has passed the parabolic phase and is now entering the long steady race to test endurance rather than strength and power
In the last 6 months especially the rate of growth was huge and I could look back after 2 weeks and not even recognise myself, but now things have slowed down I've failed to recognise this and be happy with the current progression, and acknowledge that growth isn't going to be as fast, but it will still be incredible, its just getting used to how things used to be has made me feel like a failure at times
Im looking to use this page as I did before, recording what I achieved each day and documenting my journey, rather than brief current highlights which prevents me from reflecting on what I've done each day
Step back and look at the bigger picture and then break it down if you are feeling lost like me
It's not some crisis right now but it's definitely manifesting slowly and its best to address the issue now and go head on