5 Choices you Make as a Trader - THIS Or THAT

7 มี.ค. 2023

From the second you turn on your computer, to the time you press buttons commit your funds into your trades and close your computer.

You are making your own choices.

Do you choose this?
Do you follow that?
Do you go against this?
Do you type that?

So technically, your financial future success lies all in your fingers.

In this TradingView piece, you need to ask and answer what choices are you prepared to make – to turn your life around as a trader.

CHOICE #1:
Sleep until noon – Wake up early

If you’re a position trader (trade once per week or so) like me, then you’ll know profitable opportunities knock VERY slowly.

You can wake up late, open your trading platform and see a missed trading opportunity just like that.

Or you can set your alarm, wake up to check the markets to confirm if there is a trade lined up or not.

DON’T MISS YOUR TRADING OPPORTUNITIES!

CHOICE #2:
Only trade your starting portfolio size – Deposit money each month

Let me be frank.

R5,000 isn’t going to turn you into a millionaire.

R20,000 isn’t going to turn you into a millionaire.

I’m sorry but it has to be said.

You need to find a way to keep depositing a bit of money into your trading account each month.

Whether it’s 5% or 10% of savings, the more you deposit each month – the faster your portfolio will grow as you have more to make money from money.

CHOICE #3:
Go against your strategy – Follow your strategy

I know it’s tempting to want to go against your strategy.

You want to move your take profit, stop loss, you want to buy more. You want to take some money off the table.

The problem is – make this choice and you’ll set a dangerous precedent.

It will be the start of going against your strategy the next time and eventually, you’ll only be trading with discretionary (self) which I need to remind you is…

A COMPLETE LOSING STRATEGY!

The stock market doesn’t work on emotions. It doesn’t think and it doesn’t feel. So why should you?

Keep to your proven and profitable trading strategy, and the profits will yield as your system has shown you time and time again.

CHOICE #4:
Learn and then drop the E – Try to earn and drop the $

Trading is a forever learning business.

You need to learn how the markets work. You need to learn how the trading environments operate and when they are favourable or unfavourable to your strategy.

You need to learn WHICH are the best instruments to trade.

Which are the most reliable and secured brokers.

Which trading platforms are up to date with technology.

What NEW markets there are to utilise and profit from.

The list continues.

Please follow your own learning time line as a trader and then you’ll find it will all be worth it.

CHOICE #5:
LATER – NOW!

I still get people who send me messages like…

“Timon I’ve been following you for 15 years and haven’t started trading yet, what do you suggest?”

Simple! Get out of your comfort zone, stop being lazy and take the necessary steps to start your trading journey.

15 years!

You could have had all the experience you needed by now. You could have gained important lessons to build your portfolio.

It’s all on you.

The best time to start is NOW!

There is no past (as it already happened).
There is no present (as it automatically becomes the past).
There is no future (as it’s still to come).

So all you have is an infinitesimal photo shot of time called NOW!

Got it?

Make your choices and materialize your trading into the reality you’ve desired.