The Mindset of a trader

Hi guys,

So last week was traumatic lol. L’s on L’s but that is okay, you know you blow up and come to a realization then blow up again then you need to re-build. I’ve been thinking about my whole idea of living off of trading and I feel like it is leaking into my day trading activities and creating issues for me managing my risk. I know I’ve said i am happy with 5-10% for the week but am I truly happy with that if I continue trading?? you see me continuing to trade contradicts the idea that I am happy with 5-10% for the week. then am I truly happy with that if I full margin after? I dont think so. so now the question is how do I change my mindset. Today during the FX review for the week this came up and I realized shit, I really do need to go to a mindset from living off of trading to earning additional income from trading. sure my job can give me x amount of dollars a year but if I can make even half my income trading then I am deemed successful. I may not be able to live off of it but over the long run I definitely will. peep this.. 50% on a 10K account is 15K end of the year then 50% again we are at 22.5K… 33.75K…. 50K…. 75K…. 113K. anyway you get the point in the long run consistency and small gains will grow your account exponentially and you will have more money to make more money. This is how you get to the point of living off your trading.

The other question I need to ask myself is why I trade? Do I trade to loss money? because its exciting? because I’m bored? all extremely bad ideas to trade .

I am trading because I want financial freedom, I want to remove myself from the chains of a 9-5 job. I think this is the root cause, I find consistency, feel invincible and then that 1, 2 times I break my rules I destroy the account because I feel like this is the trade thats gonna make my month, its gonna make me that “FUCK you money” I’ve been looking for. But thats all wrong because this ain’t no get rich quick scheme.

anyway guys just some thoughts. Take it with a grain a salt.

 

cheers,

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