About Psychology:
Always remember that your mind controls you and you control your mind !
So if you think actively about that you can change that.
If you want to win in this “game” you need to think differently. You can´t do what everyone else does.
Same thing with emotions and feelings. Most people have a lot of them which is considered to be “normal” and healthy but you need to control that too if you want to trade stress free.
Keep everything in balance. If your mind is out of balance you always need to work on that first and take some time off and not focus on trading. Everybody is different but this is a general rule.
Everything in trading is made by someone who was or is bigger than you to make you lose everything: Lose money, lose hope, lose “luck” and lose belief in yourself and your system and everything.
THAT is normal and the reality. Get used to it. You don´t go into a war with hope and a yellow flag that states “PEACE”. You go in a war fully armed and trained and you expect everything and act accordingly. What you don´t do is risk your life for no reason. So why should you risk your Account and your savings for no reason?
Prepare yourself before you fight ! Trading means war !
Furthermore, you need to focus on yourself. There are people who try to help you but most people will scam you and mislead you which is even worse. So always focus on your own way ! Do it in your own pace and don´t focus too much on others because you can´t see what they did to get what they have now !
Also calculate some drawdowns in your own life into the equation. Shit never goes how you planned. There is always something that isn´t right so get an attitude where you love to fix things and find solutions instead of getting angry, lost or tired of “doing” things. Life is different for everyone and yet we live in a capitalistic world. The rich get richer and the poor get poorer every day. So in trading you got one of the best possibilities to actually get freedom but don´t think too much about your first million because that is the wrong mindset. Think about how you can first live from trading, then how to improve your system and make better trades. Then how to control your emotions better and so on. Eventually you love the work AND you can live from it and THEN you can think about how you can even manage everything better to get your first million. Money won´t make you happy at all but the progress does and the freedom you get from it. At least that´s how I think about it.
Last but not least find your own way (in trading and life). You don´t have to be the next Steve Jobs, but don´t get used to stupid phrases like: “I am too old for this or that”… You can do whatever you want right now if you got the right motivation and a lot of times you have to fall deep first to get that motivation which seems to be a natural law out there.
“Stay hungry, stay foolish” is what always has motivated me. The world has so much to offer, don´t you want to be a real part of it?
