So many new traders hit the exact same roadblock…
They see professionals pulling huge gains and try to mimic them.
But they keep losing, so they get frustrated and quit.
Don’t quit trading.
This is a mindset issue.
“Jeff, I don’t have time for this touchy-feely mentality crap. Just teach me how to trade.”
Tell those voices in your head to quiet down… I am teaching you how to trade.
The Reason You Keep Losing
Since it’s football season, let’s use sports as an example…
First of all, we have to agree that NFL players and successful traders have something in common. They’ve both achieved a goal that most people only dream of.
- It takes skill and dedication to play in the NFL, and they pay you handsomely for it.
- Similarly, it takes skill and dedication to trade successfully, and there’s A LOT of money to be made.
Ellis Hobbs used to play in the NFL for the Patriots and the Eagles, now he trades in our community alongside Tim Sykes.
The goal for football players is to score more points than their opponent. The goal for traders is to make more money than they lose.
One of the biggest issues for football teams is focusing on the end zone. They go for the goal instead of slowly working their way up the field with first downs.
Imagine if a team only threw hail mary passes for every offensive drive. Chances are, they’d rank first in the league for three-and-outs.
A much better strategy is to pick up a couple yards, make the first down, and work your way toward the end zone play by play.
A lot of traders (whether they know it or not) keep throwing hail mary passes.
They risk too much, they don’t cut losses, and they bleed their accounts dry.
And then they complain that they can’t find a system that works…
Well, when you only throw hail marys, you haven’t given yourself much of a chance to find a successful process.
Pick Up a Few Yards
You need to start trading like you’re playing football.
Aim for a 5 yard gain. If that works, do it again. If not, take notes and try something else to get through the defense.
If the defense pushes you back, fall on the ball to preserve your field position and try again on the next play (cut your loss).
Football isn’t an all-or-nothing sport. It’s a game of intermittent gains.
Just like trading.
Stop risking your whole account on every trade. Risk $1 on my next trade.
Then, keep making plays and figure out what works.
You’re going to lose every now and then. That’s the nature of the game.
Just like in football, some plays don’t turn into positive yards. But the best teams keep trying and eventually find gaps in the defense.
Keep trading.
Don’t be afraid to lose.
You’ll make it to the end zone eventually.
Stay Street Smart,
Jeff Zananiri
