(100% FREE) - "33 MUST Know Rules For Advanced Investors"

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The fear of loss should overwhelm the fear of missing out. The FOL is defensive, patient, conscious, smart - on the other side FOMO is emotional, aggressive, reckless and stupid.

Choose who you want to be.

Staying on the topic of FOMO, the world famous G.O.A.T of trading Jesse Livermore once said to wait for the line of least resistance to reveal itself before going long or short. Big reason most Bambi's lose is because they don't wait for price to reveal the true direction, they have no patience and because of that they try to pick tops and bottoms, but it's important to short the bounces and buy the dips and forget about trying to predict exact tops and bottoms.

Pros understand this.

If I had to start over again I'd focus on mindset.

Broad term I know, and probably too in-depth and detailed to describe here in this format but regardless the internal dialogue of a trader is what decides the difference between winning and losing.

I could show one person a technique I get a 90% win rate with and watch them mess it up. Individualism is important in trading of course, but don't forget who inspired you.

We stand on the shoulders of giants.

Ever shown a beginner a chart and ask them to pick what happens next? They always get it correct, why? Easy, it's because they are not emotionally invested and they're operating off pure intuition (very powerful), but ask them to do it again and they fail EVERY time - now they're emotionally invested, they try to logically think of what's going to happen next and they completely ignore their gut feeling.

Nerds who talk about probabilities are bad traders, high win rate with low risk should be the goal of any trader out here - I'm not playing for scraps, I want the meaty trades.

When you have these collosal trades you tend to forget about probabilities.

Probabilities (in the traditional sense) is for gamblers, not traders.

The perfect trade is not about entering early or even on time, it's about hopping on as the trade is leaving - only then can you know for sure 100% that your analysis was correct and confirmed.

Too many Bambi's jump into a trade super early and wonder why they get kicked out due to volatility.

Telling someone to test a strategy on demo is easier said than done, especially when it cannot simulate the emotional aspects of trading, which in my opinion, are the most important to master.

Not cool and flashy, but psychology gets the job done and gets the trader paid.

Gamblers like flashy.

The emotional stress of one man trading his last 1,000 dollars is FAR greater than the hedge fund manager trading tens of millions for someone else.

The distance to zero wealth is what determines your stress levels. In the west at least.

I don't follow fundamental news - some people are shocked by this but it's true. For the longest time I've just had success with candlestick patterns so why change it? Don't get me wrong I know how to read all the news, 10q's, earnings etc - I learned it over the many years that I've been a trader, but it didn't make me money and so my journey has been more about unlearning what doesn't make me money and remembering what does.

Simplifying a strategy with each iteration is way more effective than making it more complicated. Traders don't do this because they want to seem intellectual and superior to other traders, but in doing so they get analysis paralysis and ultimately give their money to people like me and other pro traders.

Listening to advice is tricky, who is delivering the message? A pro or an amateur?

As a beginner listening to a pro can be daunting, especially since all the lingo makes little sense so an amateur guru resonates more, because they speak Bambi.

But siding with the pro, regardless of if you know what they're talking about straight away is best in the long run - it's like picking up a language from a native speaker not from Google translate.

I once browsed forex factory as a beginner investor many-o-moons ago and found some absolute gems of knowledge, many of which were free to download and consume at my own leisure - having said that, I've spent over 16k on other people's products over the years (mainly when I had already made money) and my prognosis is that the paid material is better, maybe it's because it IS actually better than the free material, but it could also be due to the fact that I value the content higher because of its price level - hard to tell, either way, my guidance? Take any and all information you can consume, free or paid.

Maintaining a positive frame of mind is incredibly important. Too many "gurus" talk only technique (which is important) but they fail to really touch on the mental fortitude required to be a high value trader (probably because they're full of sh!t).

Emotions are more clingy than an ex girlfriend - especially in trading. You may shake it off momentarily but overtime they break you down, piece by piece. Best to focus on a strategy that takes the emotion out (as much as possible) of the trading regiment.

Removing added stresses outside of trading is mandatory, well I say "mandatory" but I've taught a few naturals who have a pretty crazy personal life yet they trade like a G, I'm not talking about those anomalies, I'm talking about the majority - have your personal life (fitness and mindset) in order if you're wanting to maximize your gains on screen.

Ask yourself, when have you ever had a run of success by rushing into a trade? It doesn't happen. Strings of wins comes from high IQ thought out plays, not some low level double digit thinking that the 87% of losing traders churn out.

Don't rush, snipe.

All bad trades come from giving into temptation - a good trade can lose as long as it's within your strategic parameters, but a bad trade always comes from FOMO (fear of missing out).

Simplification is often overlooked, mainly because as humans we're too intellectual for our own good - if you can't "dumb" down your strategy Feynman style so it's easy for everyone to understand and profit from then you're a terrible teacher.