I also think that asking "how rich do people get?" and similar questions is stupid to ask. it hypes people up, they think 'WOW I can be rich too!!' this puts their risk up and they lose money.
Don't know if anyone's noticed, but you don't see the rich traders showing off, they keep it to themselves, keep it quiet.
If you eliminate showing off to your friends and family, you eliminate risk this brings by upping your risk to gain more which more often than not results in losses.
If you want to be a winner, set low targets, if you haven't met them by the end of the week, don't hurriedly look for trades to make big $$$, but write in your journal (yes I said it) what happened in that week, why the target hasn't been met, and how you can improve. Most importantly after this, get a good night's sleep Friday night and don't stay up fretting.
In scuba diving my instructor always used to say "plan the dive, dive the plan." In diving as well as in trading, if you don't stick to your plan, it can and WILL go wrong
Don't know if anyone's noticed, but you don't see the rich traders showing off, they keep it to themselves, keep it quiet.
If you eliminate showing off to your friends and family, you eliminate risk this brings by upping your risk to gain more which more often than not results in losses.
If you want to be a winner, set low targets, if you haven't met them by the end of the week, don't hurriedly look for trades to make big $$$, but write in your journal (yes I said it) what happened in that week, why the target hasn't been met, and how you can improve. Most importantly after this, get a good night's sleep Friday night and don't stay up fretting.
In scuba diving my instructor always used to say "plan the dive, dive the plan." In diving as well as in trading, if you don't stick to your plan, it can and WILL go wrong