You will lose everything, I repeat, everything you put in your broker early in your career!
There are no miraculous setups or indicators that will save you from this.
Just accept this reality and reinnow your expectations.
Imagine that you are a football player at the beginning of your career learning how to hit fouls in front of a professional goalkeeper.
For each goalless foul, you lose $100.
And for each goal, you win $ 100.00.
At the end of a first day of training, having hit 50 fouls, how many result in goal?
It doesn’t matter.
You’re going to get a loss for a long time until you get out of training with some change in your pocket, aren’t you?
In the day trade it is like this, each trade (lack) that does not make a profit, gives loss.
And you’re going to miss a lot more than you get it right at first, until you’re good!
This is… Lose everything you risk in your first.
It’s normal, it’s like this with everyone and everything that involves developing high-performance skills.
There are no shortcuts
It would be phenomenal if there was some quick, cheap and simple strategy of taking money out of the market by doing day trades, without losing everything in the beginning…
You may now be thinking of a perfect plan to escape this curse:
“I go there, i contract a market simulator, i train until I get good without spending anything and then I go to the real account and I start making money!”
It really sounds like a perfect plan, but it never worked.
This idea just sums up like saying:
“Igo there, buy a video game, train in the formula 1 simulator until i’m good and then I’ll drive a real F1 and be world champion!”
Does it look perfect now?
It’s just not the way it works.
And, if you are not yet convinced, I suggest reading an article that I made a point of translating to Brazil.
It is an article by John Grady, famous international trader and educator:
Here is an excerpt from the article:
“What people often can’t see is that you don’t manage gains or losses the same way if you were operating with real money. It’s very easy to say, “I would have done this” or “I would have done that” when nothing was at stake.
It’s another story when you’re sitting in a trade and you know that every tick is costing X amount of dollars and you’re analyzing the market with high adrenaline.”John Grady – NobsDayTrading
To read the full article, go to the link below:
There Are No Guarantees
Honestly, I’d like to give you this good news:
“If you are hardworking, intelligent and disciplined, just study and practice that you will win in the day trade”
However, unfortunately, there are no guarantees that you will “get there”.
You can even be a very successful professional in your current profession, have an IQ above the media, be extremely disciplined in your personal life.
None of this is a guarantee that you will be part of the 0.3% winners!
There is no point in you being mentally gifted, there is a long process of learning and adaptation and you will have to prove yourself in practice.
Remember the marketers and their “mental triggers”?
So they love to give title to day trade courses like this:
The Great Chance, The Ultimate Strategy, The Final Shot, Delta Project…
These course names make us feel that buying such a course will be our guarantee of success in the day trade.
However, no course can guarantee you that you will learn how to make money in the market as a day trader.
A good course really is important, however you must understand that it is only in your real clash with the market that you will find out whether or not you are fit to the podium.
Before I invite you to the next alert, let’s remember our findings.
Doing day trade is not easy, it can take 3 to 6 years until it is good, not everyone has the profile, you will lose everything in the beginning, there are no shortcuts and much less guarantees of success.
I must admit, if you’re still here, it’s because you have the guts.
And if you have the guts, Alert 3 is for you.