Don't be a still trader!

“Timon, I’ve been following your trading tips for the last 12 years and I STILL haven’t taken my first trade." But I will soon trade...

Soon?

Like tomorrow? Next week or in the next 12 years?

Procrastination is the thief of time. I hate clichés but I love that saying.

#1: STILL not ready for losses

I think most people don’t want to take losses.

They are seen as small failures or small fractures to a person’s pride and bank account.

Whether you’re running a business, a household or a trading portfolio – there are going to be oopsies.

So how do we deal with the idea of taking losses?

Well, don’t think of them as losses.

Think about them as costs…

When you run a business you have to pay costs – equipment, stock, admin, salaries, legalities etc…

When you run a household you have to pay costs – electricity, water, take the trash out, taxes and repairs.

When you run your trading account you have to pay costs – Losing trades and drawdowns…

You pay costs with everything in life, and so it shouldn’t be any different with trading…

Instead of calling them losses – call them ‘costs of trading’. Helpful?

#2: STILL no right system

This one is common.

You don’t know what the right system is for you.

You’ve tried a couple of moving averages, indicators, price action even volume.

Nothing seems to work for you yet… I don’t have a correct answer for you, but I can tell you with how I found my system.

I wanted something that didn’t require too much thinking, little indicators, worked on all time frames, was easy to back and forward test and is timeless.

And it took me years until I finally found a system that you see here in TradingView.

So ask yourself exactly what you want in a system and drill down each detail that matches your current lifestyle and times…

Just maybe, the answer will stand out for you better.

#3: STILL Not making money

Now this is ambiguous.

If you end up positive for the year, you’re making money.

If you’re not happy with how much money you’re up for the year, that’s different.

It’s all relative.

Step one is to make sure your portfolio is positive by the end of the year.

Then it’s a numbers game as to what your portfolio should be to make more of an income.

But first make sure you’re in the positive before you play with Mr Market.

#4: STILL Making excuses

The only thing I can add to this is the wonderful comfort zone of doing nothing.

It’s safe, it’s consistent and we’re used to it.

But if you are constantly thinking of wanting to trade and build your wealth on a regular basis – it tells me you’re ready but not ready to leave your comfort zone.

You got to pull up your socks and just START. The hardest step to trading is taking your first step.

I hope these tips will help you shake off the STILLness that’s lurking inside you, so you can achieve greatness.