Updated: Dec 19, 2020
Some people never realize the extent of their own trading ignorance and spend 20 years gifting money to the markets because they think they know what the market SHOULD DO, WILL DO. Over the years the market has been churning out would-be traders because the market will do what it will and you as a retail trader you have ZERO say in it.
Basically, one has to learn the BIG Boys’ tricks and hang onto their coat tails. That is all you can do as a retail trader. For my part, once I accepted the above and truly embraced it, I was well on my way.
Now I trade in sync with the market. I do not expect the market to do anything. I wait for the market to show me what it wants to do, then I say OK I am in. This is not to say that I do not do my homework and draw my levels; I do. I also rely on the knowledge I have gathered over the years, like a tumbleweed, to inform my trading.
One can have all the best strategies and equipment, data etc, but if you are not aligned with the market, as a trader, you will die a death by a thousand cuts.
Talk to people. Find out how they overcame their own challenges. For my part I actually engaged a therapist and a 1:1 Coach. Both of these opened my mind and set me on a new path, that led me here. I thought it was pointless continuously blowing up trading accounts. I must have blown nearly £100 000 before engaging a therapist at £100/hour paid £5000 for 1:1 coaching. I can now say it was all worth it as the return on investment has been spectacular!