A well respected mentor called me today. I finished a conversation with him about 3 hours ago. This mentor will remain nameless. The talk I had with this man made such an impact on me that I am changing a few things yet again. I remember him asking me to take a few minutes (after we were done) to think about what was discussed. We I didn’t take a few minutes. I took a few hours. Actually I have not stopped thinking about it. I think I just got kicked in the nuts when a good nut kicking was due.
So now I blog about the conversation a bit.
What is your goal in trading? Is it to make friends? Is it to show the world how great you are? Is it to see yourself in some form of stature? Is it to make money? What is it?
My goal is to make money. The reason I want to make money is to take care of my family and to be able to enjoy life the way I see fit. There is no such thing as job security anymore unless we take life into our own hands and make it happen. This is my goal. I want to make $1,000,000 period. The reason for this is that with a million bucks, it gives me options in life. Now if I make $100,000, will I be sad? Nope. I am in it for the money.
I am a firm believer that you have to love what you do. If you have a job you love, then great. If you have a job you hate, then that just eats at you every day of your existence. When you do what you hate every day, you feel trapped and want to get out. Having a life you hate makes you depressed yada yada.
Well I love trading. I love the motions of looking at the charts. I love the opportunity the market gives you every day to make a living. It gives you the opportunity to make a true living, not a $20 per hour living but a genuine opportunity for the life you dream of. At least that’s how I see it.
The simple fact is most people don’t make any money in forex trading. Have I made money? Yes. Have I made it in the way that I feel proud? Nope. I know that if I keep trading the way that I have been currently trading, I have a good opportunity to go belly up one day. It is such a hard path to trade the wrong way. It drains you everyday and frankly I got sick of it about a year ago. “IT” being trading the wrong way.
What is the wrong way to trade? Each trader has to answer that question for themselves.
So my mentor pretty much confirmed what I already knew. So from this point forward, I will only blog about the right way to trade. I have to go in my charts and change my settings. I have to start using different lingo. I am transferring my nadex account back to my forex account. I am doing my homework each day. And I will make this my future. Nothing is going to stop me. And by Gosh, if I can just manage to do the right thing, I will win.
So I have listed below the things that keep my dream from me and every one of them need to be eliminated.
1. Stop taking a fantastic system and trying to create your own rules to make it better when you have not even mastered it yet.
2. Do the same thing every day. Do not do different things this week than you did last week.
3. Stop listening to ever Tom, Dick and Harry who says you are stupid to trade in a certain fashion.
4. Keep discipline in check. Be in front of your computer when you need to be and shut it off when it needs to be shut off.
Number one, above, is the biggest fault on my list. This needs to be dealt with today.
So lets see how it goes from here.