[Education] Why You Can't Break Free From Get-Rich-Quick TrapYou already know the get-rich-quick mindset is killing your trading career. You read the books. You understand that consistent profits come from proper risk management and patience. Yet somehow, you still find yourself hoping for that one trade that will change everything.
I understand that feeling. I spent 5 years trapped in this cycle. Let me share something embarrassing. I was previously managing a $200,000 funded account. My strategy was making a consistent 1-2% monthly. I got greedy. I saw a "perfect" setup and decided to risk 5% instead of my usual 1%. "Just this once. This setup is different.”
That one decision wiped out my profits and I lost that account in a single trade.
The Psychology Behind Our Self-Sabotage
Here's what makes this mindset so dangerous. We can intellectually understand it's wrong while emotionally believing we're the exception. It's like knowing fast food is unhealthy but convincing yourself that this one burger won't hurt.
The truth is our brain is wired for quick rewards. Whenever we see those trading “gurus” posting screenshots of their profits, or a picture of them partying, driving sports car, and flying first class, we can sense that they are fake. However, our emotional brain lights up with possibility. "What if it's real? What if we're missing out?"
This creates an internal battle in our mind. We know we should focus on consistent execution and proper risk management. We have to play the long game. But our emotional side keeps whispering, "Just one big trade. Just this once."
The Hidden Influence of Social Media
We're surrounded by images of instant success. Traders posting five-figure profit days. Twenty-somethings with Lamborghinis claiming they made it trading crypto. Even though we know these are likely fake or cherry-picked results, they affect us more than we realize.
I remember sitting at my desk when I was in my audit job, scrolling through trading contents on Instagram during lunch breaks. Every post showed massive profits. Nobody was posting their losses, their blown accounts, or their struggles. This created an unrealistic benchmark in my mind. My 2% monthly gain felt insignificant compared to these supposed overnight millionaires.
This distorted perspective leads to a dangerous form of self-sabotage. We start taking larger risks, not because our strategy dictates it, but because our normal profits feel "too small" compared to what we see online. We “need” more profits.
The Compound Effect of Impatience
The most insidious part of the get-rich-quick mindset isn't that it makes us take bigger risks. It's that it makes us unable to appreciate the power of compound growth.
Let me show you what I mean. When I first started trading properly, I was making about 3% per month on a $10,000 account. That's $300 a month. It felt painfully slow. I kept thinking, "At this rate, it'll take forever to reach my goals."
But here's what I didn't understand then. Consistent 3% monthly returns, when compounded, turn $10,000 into $43,891 in five years. In ten years, that becomes $192,577. Add in regular deposits from your salary, and the numbers become even more impressive.
Instead of appreciating this mathematical certainty, we chase the fantasy of turning $10,000 into $100,000 in a month. The irony? This pursuit of faster growth usually leads to account blow-ups that set us back years.
The Real Cost of "Just This Once"
We all know the phrase "just this once" is trading's version of "one last drink". It's never just once. Each time we break our rules and survive, or worse, profit, we reinforce the behavior. Our brain logs it as a successful strategy, making it harder to stick to proper risk management in the future.
I learned this lesson the hard way with prop firm challenges. I'd be up 5%, nearly passing the challenge, and then decide to take a larger position to "speed things up." Almost every time, this decision led to failing the challenge. What's worse, even when it worked, it reinforced bad habits that would eventually cost me more money.
Breaking Free From The Cycle
The solution isn't just knowing better. You already know better. The solution is building systems that make it impossible to act on these impulses.
When I finally became consistent, it wasn't because I found better self-control. It was because I removed my ability to make emotional decisions. I created rules that were specific and inflexible:
My position sizing is calculated before the market opens.
No adjustments are allowed during trading hours.
Every trade must be pre-planned with exact entry, stop loss, and target levels.
No deviation from my trading plan is allowed.
I only opened my trading platform during specific hours that I’m allowed to trade.
These rules might seem extreme, but they protect me from myself. They make it impossible to act on those "just this once" impulses that we all feel.
The Professional's Perspective
Want to know what real professional trading looks like? It's boring. Mind-numbingly boring. I now manage multiple six-figure funded accounts, and most of my trading days are completely uneventful.
I take 2-3 trades per week. Each risk is exactly 1% of my account. My average winner makes 2R. Some months I make 5%. Some months I make 1%. Some months I lose money. But over time, the consistency compounds.
This is what trading success actually looks like. No excitement. No massive winning days to screenshot. Just steady, consistent execution of a proven process.
Embracing The Slow Path
The hardest part isn't learning to trade properly. It's learning to be satisfied with "boring" profits. It's learning to celebrate a 2R winner instead of feeling disappointed it wasn't 10R. It's learning to find pride in perfect execution rather than profit size.
This shift requires a complete redefinition of trading success. Instead of measuring success by profit, measure it by how well you followed your rules. Instead of comparing your returns to Instagram traders, compare them to bank interest rates or index funds.
The Path Forward
You already know the get-rich-quick mindset is destructive. The question is: Are you ready to embrace the boring path to success?
This means accepting that:
Your first year of proper trading might only make you a few thousand dollars.
You'll have to watch other traders post bigger profits than you (real or fake).
Some days you'll do absolutely nothing but watch setups fail to materialize.
Success will come so gradually you might not even notice it at first.
The choice is yours: Continue fighting this battle alone, or get the support you need to finally break free.
Investing
APLD - A name you NEED to add to your watchlist NOW!CHARTURDAY - NASDAQ:APLD
A good name to add to your watchlist friends!
Good:
-CupnHandle Pattern
-Inverse H&S
-Volume Shelf
-Bullish Wr%
Bad:
-Red H5 indicator
-No breakouts yet.
If we get a breakout and green H5 then...
🎯$16🎯$21
Not financial advice
Amazon: Ready to Explode in 2025! 40% UPSIDECHARTURDAY - NASDAQ:AMZN Ready to Explode in 2025!
A great fundamental and technical setup for 2025!
-Multi-year CupnHandle with successful retest and we haven't realized the measured move yet
-Green H5 indicator
-Volume shelf w/ free space
-Williams CB is thriving
Pulled back to 9ema and previous resistance to flip into support and bounced.
🎯$231🎯$280 🎯$310
Not financial advice
$NVTS Ready to Soar! 200% UPSIDECHARTURDAY - NASDAQ:NVTS
ALL SYSTEMS GO!
-H5 Indicator is GREEN
-Broke out and successfully retested falling wedge and downtrend
-Volume shelf with GAP
-Weekly Hammer candle
-Williams CB thriving
A break over recent highs is VERY BULLISH!
🎯$6🎯$7.62 🎯$11
Not financial advice
$REAX: The Moment of Truth - Ready for a Skyrocket or a Crash?NASDAQ:REAX : The Moment of Truth - Ready for a Skyrocket or a Crash? 📉🚀
🚨 A make or break moment here, friends! 🚨
Good:
At strong cup-and-handle retest area (Strong Support Zone) 💪 *Measured Move for cup-and-handle breakout hasn't been realized yet
Falling wedge pattern into support 📈
Bad:
Off the volume shelf and in the volume gap ⚠️
Red H5 Indicator 📉
Short Williams CB formed and thriving
🚀 Going to $8.20 or sub $4 🚀
Not financial advice.
Unlocking the Secrets of $MBLY: Prepare for a MONSTER MOVE!NASDAQ:MBLY - A chapter out of my Book!🚘😂
MASSIVE MOVE ON FRIDAY!
What I'm seeing, we are smashing into the Red Barrier of my Williams CB strategy which means we need to peel off it! Well if we really do get that Honda news on Tuesday that only leaves Monday to have a pullback before we would have the monster move from the news then short-squeeze that week.
I've honestly never been in this predicament with a stock running into the barrier. I really believe that if we don't pullback Monday and get the Honda news on Tuesday we will bust right through this red barrier and it won't even matter which I've never seen a stock break through that red barrier before so I mean that's how BULLISH I am lol.
As far as the charts there are no other charts on this planet as SEXY as MOBILEYE!!!
Weekly chart:
- H5 is GREEN
- Broke out of downtrend and up trending with room up to $25 and I also believe we could bust through the top of this channel if we get the Honda news which will start the short squeeze! (Short Squeezes are rare and when you have them they defy gravity!)
-Williams CB is thriving
-Launched off volume shelf into volume GAP! Have room to $27 then another massive GAP!
Daily chart:
- CupnHandle Pattern breakout with successful retest
- Volume shelf launch with GAP
-Williams CB is formed and thriving
-Volume is increasing
-Massive measured move
I'M NOT KIDDING I COULD LITERALLY WRITE A DAMN BOOK ON MOBILEYE WITH HOW BULLISH I AM!
IT WILL BE CALLED THE MOBILEYE MILLIONAIRE!😂
Fundamentals are phenomenal:
-Revenues and margins troughed
-All head winds becoming tailwinds (Inflation, China, Interest rates)
2025 Price Target of $45
TA Targets:
🎯$23🎯$25🎯$27 🎯30
If you are still here reading this you better share this! 😂
Okay I have to get to other charts that's all for now on Mobileye friends!
Not financial advice
AMD = The Trader Slayer!NASDAQ:AMD
We got a lot going on here with AMD!
- In the volume gap and could fall down to the shelf at $108 or we could have just hit a double bottom with a breakout spot at $174ish.
-H5 Indicator is RED and they are in a downtrend while also forming a Bull Flag (barely).
-Sitting on the bottom of the Wr% and could form a downtrend box or start running to the upside.
It all makes sense to me. This name is an extremely difficult name to trade and has eaten the best traders whole, myself included.
One thing is clear to me! trying to trade this name right now with all of these mixed signals is risky-business! I'm steering clear until we get some certainty!
No price targets because who knows whats gonna happen. 🤣
Not financial advice.
XIAOMI (1810): Another All-Time High Surpassed!A new all-time high has been reached 🎉
XIAOMI has been surging non-stop since August 2024, with our position now up 180% since our entry back in March. We are taking our next profit here and letting the rest run.
Xiaomi experienced significant growth in 2024, bolstered by China’s economic development and government support. The Chinese government implemented subsidies to stimulate demand for electronics, heavily favoring the stock. These policies aimed to strengthen domestic consumption and accelerate technological modernization.
In March 2024, Xiaomi introduced its first EV, the SU7 sedan. By November, the company exceeded its initial targets, raising its annual delivery forecast to 130,000 vehicles.
Technically, it is safe to say that we are trading in a wave 3, but the key question remains: for how long and what price level will it target? Analyzing the chart, it makes the most sense to anticipate a very large and sharp wave 3, with the same dynamics for wave ((3)). While the possibility of even higher surges exists, historical patterns suggest the likelihood of a rounding top formation as multiple waves come to an end.
We don’t believe our entry level will ever be retested, but we remain cautious with new entries for now, closely monitoring the chart for further developments.
Johnson & Johnson (JNJ): 2024 Challenges, 2025 OpportunitiesJohnson & Johnson could become one of the standout plays for 2025 if key levels are respected.
A Brief Recap of NYSE:JNJ in 2024
Johnson & Johnson experienced a challenging year. The company finalized the spin-off of its Consumer Health division, sharpening its focus on Pharmaceuticals and MedTech. In April, J&J completed the acquisition of Shockwave Medical for $12.5 billion, strengthening its cardiovascular MedTech portfolio. Financially, the company performed well, surpassing Q3 expectations with $22.5 billion in revenue (+5.2% YoY) and an EPS of $2.42.
Despite the positives, the stock faced significant headwinds, peaking at $170 in August before dropping to $140 by December—a 15% decline over the quarter.
While we briefly considered a potential outperformance in 2024, we refrained from entering a long position, which proved to be the right decision. Looking ahead, 2025 may offer renewed opportunities. For NYSE:JNJ to regain bullish momentum, it must respect the lower edge of the long-standing trend channel established in October 2021. Ideally, we would like to see a fake-out below this channel to trigger a bearish shakeout, followed by a reversal that targets higher levels.
For the longer term, our outlook includes the potential to test the $116–$100 range. However, if our 2025 thesis aligns with technical developments, we will consider adding exposure to $JNJ.
S&P 500 Daily Chart Analysis For Week of Jan 3, 2025Technical Analysis and Outlook:
During this abbreviated trading week, the S&P 500 made a wild ride pullback against a very significant Mean Sup 5870. Subsequently, it rallied robustly, approaching our newly established target of Key Resistance at 5972. This upward movement is anticipated to stabilize or continue to rise, sustaining the bullish trend. However, it is crucial to acknowledge that encountering subsequent resistance may trigger a substantial pullback, potentially leading to the Mean Support at 5870, which remains a plausible scenario.
EUR/USD Daily Chart Analysis For Week of Jan 3, 2025Technical Analysis and Outlook:
The Eurodollar has significantly declined in this week's abbreviated trading session, reaching the Outer Currency Dip level of 1.025. Consequently, the currency has rebounded robustly and is heading toward the Mean Resistance level of 1.034. Current analyses suggest that the Euro is positioned to continue its upward trajectory. Nevertheless, it is anticipated that a revitalized pullback will occur from this resistance level.
Bitcoin(BTC/USD) Daily Chart Analysis For Week of Jan 3, 2025Technical Analysis and Outlook:
As specified in the Bitcoin Daily Chart Analysis for December 27, an extraordinary rebound bull movement occurred from the Mean Support of 91800. Current analysis suggests a high likelihood that the cryptocurrency will continue to advance, potentially testing the Mean Resistance level of 99500 and aiming for a retest of the completed Inner Coin Rally marked at 108000. Nevertheless, it is crucial to recognize the possibility of a pullback to retest the Mean Support level of 91800 again before any resurgence in the bull market.
VIX is dying and the markets are flying!TVC:VIX NASDAQ:QQQ AMEX:SPY
Do you see now!👀
Yesterday I posted about the TVC:VIX making a bear flag pattern and showed you what's happened the last two times!
The VIX is dying and the markets are flying! The TVC:VIX has a lot more room to the downside as well.
You know what that means! 🚀
Walgreens Boots Alliance: Stability and Growth in the Healthcare1. Stable position in the healthcare sector
Walgreens Boots Alliance is one of the leading pharmaceutical chains in the world. With a network of thousands of pharmacies and health centers, the company plays a key role in the provision of healthcare services, especially in the US and Europe. This makes it resilient to economic cycles, as healthcare is an indispensable part of life.
2. Dividends for shareholders
Walgreens is known for regularly paying dividends to its shareholders, which makes it attractive to investors looking for passive income. The company is part of the so-called Dividend Aristocrats, which means that it has increased its dividends for decades.
3. Expansion in the field of digital healthcare
Walgreens invests in technology and digital solutions to improve access to medicines and healthcare services. Online pharmacy and telemedicine platforms are part of their strategy for future development, which provides them with a competitive advantage.
4. Strategic Partnerships and Innovation
The company has partnered with leading healthcare organizations and technologies such as VillageMD to create clinics in Walgreens stores. This improves access to healthcare services and increases revenue.
5. Revenue Diversification
In addition to pharmacies, Walgreens also has a strong presence in the cosmetics and personal care sector through Boots, which diversifies revenue and makes it less dependent on one sector.
6. Opportunities at a lower stock valuation
Walgreens shares have been under pressure in recent years due to macroeconomic factors and changes in the sector. This could represent a buying opportunity if an investor believes the company will recover and continue its growth.
7. Global Presence
Walgreens has business operations in multiple countries, which provides access to different markets and reduces the risk of local economic shocks.
Potential Risks:
Competition from online giants such as Amazon entering the healthcare sector.
Pressure on margins due to regulations in the pharmaceutical sector.
It needs significant investments in innovation and modernization.
Psychedelic Stocks About to Trip! 100%+ UpsidesPsychedelic Stocks About to Trip! 🍄
RFK Jr. has been named the top health official in Trump's administration, and he's known for his stance against big pharma and preference for natural products like psychedelics. This could be a game-changer for psychedelic stocks!
In this video analysis, I dive deep into the potential impact RFK Jr. could have on key psychedelic stocks: AMEX:CYBN , NASDAQ:CMPS , NASDAQ:ATAI , and $MNMD.
These stocks are poised for significant movement, and you won't want to miss out on the insights and strategies I share. Not financial advice. 👇
Mobileye is Ready for Launch: Don't Miss the Countdown!NASDAQ:MBLY 🚘
When the rocket is about to be launched a calm and silent presence takes over the control room.
This is the scenario right now with Mobileye, the countdown is about to commence and this is your last chance to climb aboard. 🚀
Targets: $23 then $28
Not financial advice
SPY Triple Bottom, Rally time?!AMEX:SPY SP:SPX
I'd really like us to end the week above $580 in order to have this either Double or Triple bottom friends!
I could see a flash crash down to fill the price GAP at $574.81 as well.
Either way from what I'm seeing on the TVC:VIX , Economic numbers, and the charts I believe we are getting close to a bottom friends.
Consolidate down to only the best names until we receive that confirmation. They did a fake out today and another FED putting FUD into the market didn't help with the GDP projection.
Not financial advice.
XRP Price Prediction: Breakout Above $2.25 or Further Downside?The XRP/USDT chart is displaying a descending channel following its impressive rally. The price action is consolidating, respecting both the upper and lower boundaries of the channel.
The support zone around $1.89 to $1.98, as previously highlighted, remains intact.
DYOR, NFA