Unfortunately, you will be playing against some of the sharpest, fastest, smartest, most intelligent, well-informed, irrational, and, in many cases, unethical intellects in the world.
You are fighting a computer that reacts faster than you.
A trader who has more experience than you.
A fund that has more money than you.
An insider who has more information than you.
Others who misinform you.
An inner voice that will do everything it can to stop you.
So, give up your dreams of making a quick and easy buck.
Your first goal is survival.
Your first absolute goal is to learn how to stay in the game.
You can only do this by marking your territory.
By understanding how the competition thinks and acts.
By having a clear game plan.
And by choosing your attacks very, very carefully.
I've been sharing my knowledge on TradingView for years, but I'm sure this post will help you, too.
I want to talk about Trading Minest. After I set up a trading firm, I realized that this is the knowledge that most traders lack.
1. Survive at all costs
The higher your survival rate, the better trader you'll be.
If you disagree with that, you better give your money to me.
You don't have a survival instinct.
A strong survival instinct is an essential personal quality you must possess.
It teaches you to jump out of losing deals and hold on to winning ones with a dead grip.
That's what your inner attitude should be. It's essential because trading is all about survival.
It's also the essence of our lives.
2. You must be constantly afraid
You have to evaluate the opponent. If he is a stone, be water; if he is water, I will be a stone.
Maximize objective assessment of your opponent and adapt to him, but most people lack enough fear.
And if we don't have fear, we can open any trade.
And we won't use stop losses.
We're gonna do everything wrong.
And lose.
I want you to be afraid.
Example: If you are not afraid to lose, and we have the same trade, who will choose the more defensive tactic?
Whoever thinks I'm not afraid of all this nonsense, I have plenty of money. With that attitude, you will lose.
But if I am scared to death, I will use stops, watch what is happening in the market, and calculate my actions. But if a person has no fear, he will act recklessly, and then all of a sudden, bam, bam, and disaster will happen.
Many traders have lost money and committed suicide because they had no fear.
3.The ability to win when things aren't going well for you
The most essential quality of an athlete is the ability to score points when they need to catch up.
You should be able to win when you fall behind or have four losing trades; that is the difference between good traders and bad traders.
You say to yourself, "I'm behind; I'm not doing well."
And you have a choice to throw up the white flag and give up.
Or you can say, "To hell with it. I'm just gonna grit my teeth and get back in the ring and give it my best."
That's what your inner attitude should be.
You have to be able to win when you're behind.
You have to learn how to win when you're in a losing position.
That's how you have to set yourself up.
Otherwise, you will be in big trouble because no one can avoid losses in market trading.
And at some point, you are guaranteed to have a losing trade.
Only optimists can trade.
You're all so damn optimistic.
Because you think you can win a game, many people believe it's impossible. Many people say how much they lost in the market, but if they failed, someone made millions of dollars every year waiting for me to take money from the dealing. You're donating money to people who don't know the basic rules.
4. Use only proven methods
Do what works and don't do what doesn't work.
Reinforce the strong.
Best Regards, EXCAVO
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Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.