Hey there. As I write this its Saturday night. Most people are out partying with friends, trying to drink away the past. Most people are not doing what the 10% do. I am not like most people. I know that no one will ever likely read this. Once again, there is no greater place I would love to be than right here. Although I could argue one place. This past week has been an absolute blast, to say the least. I ended the week well and I am looking forward to a wonderful week ahead.
Lately, I have been talking about the Psychological factor that comes into Trading. In my opinion, Trading is 80% Psychological and 20 % Knowledge. Again that's my opinion. There is a reason that 90% of Traders lose money in this game. That number is staggering, but hold true. When the book's I have read, and I've read many. There are two, in particular, that stand out from the pack, " Trading In The Zone" and " The Disciplined Trader" by Mark Douglas. I will not go into great detail about the books, I'll leave that for yourself to discover. What I can tell you that this two book completely changed the way I looked at Trading. Now, these two books will do not guarantee instant success, but I can tell you that your Mindset will be altered. The risk is not trying. After reading these books I had numerous questions. Until I stumbled across a video on little behold YouTube that changed it. I have the honor to find Mark Douglas Seminar and many more. It was a gem. The major point that Stood out that Trading is not about being RIGHT OR WRONG. Trading as the most technical level has nothing about being right or wrong. It's truly a game about Probability and Odds. Like a flip of a coin. You know that either it will be HEADS or TAILS. You don't have to know what is going to happen NEXT. TRADING IS NO FUCKING Different. Before you put on a Trade you have two possible outcomes. Either is a Winning Trade or a Losing Trade. NOT ABOUT being RIGHT or WRONG. None of that. As a Trader, you can't predict the future ( as I write this it's 2019. Perhaps time travel will be in invented by the time you read this ). All you can control is the OUTCOME. How much am I willing too loose on this given trade when the odds are in my favor. So why is this so hard for MANY people to understand. Quite frankly it's still bugging me. We are not wired to think in terms of Probabilities and Outcome. We are designed to think in terms of right or wrong. We are Human. What Mark Douglas has taught me is the Techniques to train my mind to think in terms of probabilities.
A 20 Trade Sample Size. Random distribution. I don't need to know what is going to happen next in order to make money. It's simply a game about ODDS and PROBABILITIES. For the sample size, I have a set risk of $250 per trade. Meaning that if I were to lose all 20 trades that will net a $5000 loss. That is very unlikely. Almost as it will be to win all 20 Trades. Of course, I am human. I will make mistakes. Practice makes PROGRESS. NOT Perfection. I expect perfection, you will likely be unfilled. Which leads to me to the next point. In Trading HAVE ZERO Expectations. Go into every trading being open minded. Any expectation can lead to an unfilled expectation that leads to fear. AND FEAR is one thing that you don't want to TRADE with. Markets will always give you what you want. THERE IS NO REASON TO TRADE WITH FEAR. If you change your mindset to think in terms of Probabilities fear will be non-existent. I know that this is allotted to understand. Which is why I Urge you to watch the links above. CHANGE YOUR PERSPECTIVE CHANGE YOUR OUTCOME. Eliminate the potential that the Markets is going to hurt you.
Update: Week 47 is ahead. I can't believe it has been almost a year from the day I found I was born. I Never decided to become a Trader I simply never stopped learning. Every single day I envision myself on the Summit. Take it one day at a time. I became rich and powerful by wanting to become rich and powerful. I never for one second did doubt myself. I love you all. It will be worth it. I will teach around the World. It's a Marathon, not a Sprint. If anyone reads this just know that YOU can do anything you put your mind too. I love you, babe.
The Market just handed me a gem. A premium set-up. A classic Pump and Dump. I know the endgame. This has cost me in the past. I don't need to know what is going to happen next in order to make money. BE IN THE NOW MOMENT VICTOR. Think in terms of ODDS and PROBABILITIES and the outcome will be in harmony with your expectations.
- The methodology is my focus right now. Odds and Probabilities. Heads or Tails.