Just Don't Trade When...

Just Don’t Do It Trader

By now, you know what to do as a trader.

I’ve pretty much drilled in your mind. You can hear my voice echo the 4 Ms.

But one overlooked thing that’s also important…

Are the things not to do.

Let’s crack into the 5 things…

#1: DON’T fear losing – It’s just the cost of trading

Losing trades are an inevitable part of trading.

So why fear losses if they are going to come.

And it’s not just one or two losses.

You’re about to take thousands of losses in your life.

But don’t see them as losses.

Instead, view them as the cost of doing business in the markets.

Every trade carries a level of risk (hence we use stop losses in every trade).

And losses are opportunities to learn and refine your strategies (if need be).

So make it natural to embrace your losses as a part of the trading process.

This way you’ll cut the ego, and take on each trade with a more objective and focussed point.

#2: DON’T dwell on past failures – You are only as good as your last trade

While it is essential to learn from past mistakes.

If you dwell on them, they will excessively hinder your hard worked progress.

Trading is an ever-evolving journey, and each trade presents a new opportunity.

Instead of fixating on past failures, blown accounts, big drawdowns and times you just F*ed up with your trading system and mentality…

Rather focus on the present and future.

There is only NOW and what is to COME.

So apply the past time lessons and focus on improving your decision-making performance in the next trade.

You are only as good as your last trade.

#3: DON’T expect fast riches – This is a slow and gradual process

Trading is not a get-rich-quick scheme.

If you expect to make it big in the first three years, I have news for you.

Unless you already have a million rand portfolio to grow and bank from, this is going to take take.

Cut out these unrealistic expectations because it’s going to be an emotional ride with excessive risk-taking.

Instead, adopt a long-term perspective, set realistic goals and understand that trading success is a gradual process.

Let the power of compounding work in your favour over time.

#4: DON’T compare yourself to others – Your personality & risk profile shape you

Each trader is unique.

You are unique.

Therefore, you have different risk tolerance levels, trading styles, and market perspectives.

If you compare yourself to others, you’re going to feel inadequate and you’re going to enter into temptation on imitating their portfolios.

It is essential to embrace your own strengths and weaknesses as a trader. Understand your personality, risk profile, and trading preferences, and align your strategies accordingly.

Find what works for you and develop a personalized approach that suits your individual needs and goals.

Trading is a self-learning journey that takes time and effort to master.

#5: DON’T give up – You only lose when you quit!

Persistence is key in trading.

It is natural to face challenges and setbacks along the way.

But the only time you truly lose is when you give up.

Stay committed, maintain a positive mindset, and keep pushing forward.

You still being in the game is what will differentiate you between failure and success.

So let’s conclude what you must NOT do…

#1: DON’T fear losing – It’s just the cost of trading
#2: DON’T dwell on past failures – You are only as good as your last trade
#3: DON’T expect fast riches – This is a slow and gradual process
#4: DON’T compare yourself to others – Your personality & risk profile shape you
#5: DON’T give up – You only lose when you quit!

Just don’t do it, trader!