Extraordinary people just do the simple stuff for an extraordinary amount of time
hope to keep watching those few videos everyday for 10-15 years
https://www.youtube.com/playlist?list=PLTe_hstmWrW83H4KjYC1wEonoPCHRdoVE
Extraordinary people just do the simple stuff for an extraordinary amount of time
hope to keep watching those few videos everyday for 10-15 years
https://www.youtube.com/playlist?list=PLTe_hstmWrW83H4KjYC1wEonoPCHRdoVE
https://www.forbes.com/advisor/au/investing/what-is-day-trading/
https://news.yahoo.com/woman-100-credits-stock-trading-002810899.html
https://www.entrepreneur.com/money-finance/how-i-turned-583-into-10-million-by-day-trading/456246
https://www.forbes.com/advisor/investing/what-is-day-trading/
https://www.fool.com/the-ascent/buying-stocks/what-is-day-trading/
https://www.nerdwallet.com/article/investing/3-day-trading-tax-tricks
https://www.kiplinger.com/investing/stocks/what-is-day-trading
https://www.gobankingrates.com/investing/strategy/day-trading-with-100-dollars/
https://www.nasdaq.com/articles/what-is-day-trading
https://www.fool.com/investing/2023/09/12/amateur-day-traders-fuel-an-options-boom/
https://www.gobankingrates.com/investing/strategy/lost-40k-day-trading-4-things-learned/
https://www.fool.com/investing/2023/07/07/the-biggest-challenge-day-traders-face-in-investin/
https://www.miamiherald.com/contributor-content/article275247841.html
https://tradethatswing.com/secret-to-making-big-profits-day-trading/
https://www.investopedia.com/articles/trading/09/risk-management.asp
https://www.fool.com/investing/how-to-invest/stocks/day-trading/
https://www.bankrate.com/investing/how-to-deduct-stock-losses-from-taxes/
https://www.investopedia.com/articles/trading/02/110502.asp
https://realmoney.thestreet.com/investing/have-a-losing-trade-here-s-when-you-add-to-it-16118621
https://www.investopedia.com/articles/trading/06/daytradingretail.asp
https://www.investing.com/analysis/how-to-manage-a-losing-position-explained-200639338
https://www.investopedia.com/day-trading/pick-stocks-intraday-trading/
Three Tiny Steps
Attracting abundance is a matter of repetition. While watching this interview with Bob Proctor, I was reminded once again about one of the simplest rules when it comes toattracting abundance.
make lose 2 million day trading system
why does forexx traders lose moneytrading from home uk
Under the section My Most Important Market Belief, Larry writes.
“I have developed a powerful and profitable belief system: I believe the current trade I am in will be a loser . a big loser at that. This continues to be my most important market mantra. Winners we can handle, it’s the losses that kill you.”
This reminds him to stick with his stop-losses, not be complacent, and keep money management at the forefront of his mind.
He says.
“Loss control is still what separates winners from losers. In trading it takes only one trade that gets away from you to wipe out your bank account. Just one.”
You never know when the markets will do what you think they are supposed to do. Many times, like God, the market does not deny, it just delays. Serious traders weave protection against this delay into the fabric of their program. There is no greater rule to learn than that of money management. All the horror stories you have heard about commodity trading are true. Good people have been totally wiped out by doing the wrong thing. That wrong thing has never been the market, nor the fact the trader made a bad call. Indeed, every successful trader will have bad calls, losing trades. And lots of them
The wipeouts you have heard about, every single one of them, have come from placing too large a bet on a trade or holding on to a losing position too long. The sooner you learn to master your defeats, the sooner you will be on your way to amass the wealth possible in this business. It is your failures, not your successes that kill you in this business. Failures do not build character, they destroy your bank account. The foundation to all your success is in the preceding paragraph. Psychics may or may not be able to predict the market, value may or may not prevail. The world of speculation is about predicting the future and that is difficult at best. The fabled United States military complex, which had supposedly bankrolled the brightest of the bright, and thousands of intelligence officers, was not able to predict the fall of the Berlin wall' So how can you and I hope to do better? Our inability to see the future very well is proven yearly by such august sports magazines as Sports Illustrated. In 1997, their oracles predicted Penn State would be the number one football team, ranking Michigan number 18. By the end of the season, Michigan was number one and Penn State floundering. Washington was supposed to be number three, but was beaten by lowly Washington State, a team not mentioned in any top 20 list, that went on to win the Pac 10 championship and almost upset Michigan in the Rose Bowl'
People who make their living looking into crystal balls are destined to eat a lot of broken glass. But take heart: although neither you nor I can divine the future, especially price action, we can learn to control our losses. That is a certainty, based on math, that will provide the building blocks for your successes. Each and every one of them. For years, I chased the prophets of profit, those financial soothsayers who claimed they, or their indicators, could reveal the future. Eventually, I realized that God does not want us to see the future. It is as simple as that. If we could see "out there," we could all be millionaires many times over. We would bet the ponies, spin the roulette wheel, and roll dice, except of course, no casino would back the other side of an unwinnable wager. Besides, how thoroughly boring life would become if we could know today how every day of our future would be. Who would want to live that way-- Where's the joy of discovery, the magic of the unknown, the thrill of victory, the challenge of overcoming limitations? If we were all be rich from our powers of foresight, who would work for us, grow wheat, raise cattle? There would be no phone company, no movies, and no television, as no one would need to work. Worse yet, who would hire us?
Like I said, God with infinite wisdom, does not want us to know much about the future and for sure very little about the future of futures.
Would-be speculators think this is a game of knowing the future, of knowing that which cannot be known. It is not. This is a game of developing strategies with winning advantages, getting the odds on your side, working those odds, and staying alert to any potential changes in the game including new players or new ideas and concepts. The word speculate comes from the Latin specular, meaning "to observe," as in spectacle (your glasses). We are not like gamblers, who enter a game they cannot win over time. All they can do is hope chance will run their way, not that of the house. We speculators observe how things should happen in the future, but because we know there are no guarantees, we protect our position with appropriate preservation of capital techniques, so we can win at our game. The art of speculation requires one part observation tossed together with one rather large dose of preservation. My Most Important Market Belief Based on my research and experience, I have developed a powerful and profitable belief system: I believe the current trade I am in will be a loser ... a big loser at that.
This may sound pretty negative to all you positive thinkers, but positive thinking can give way to thinking you will win-a surefire formula for buying and selling too many contracts and holding on too long. After all, if you are positive things will work out, you are certain to hold for a bounce or turn that never comes. I look at it this way, if you get all pumped up and glossed over with positive beliefs about your market success, your conviction will lead you to mismanage losing trades. That is why belief systems are so important to a trader. If your belief system tells you the current trade will be a winner-and it isn't-the need to confirm that belief in your mind will literally force you to let losses run, to stay with losers, something no successful trader ever does. An outrageously positive belief that the next trade or two will turn your account around or make a small fortune for you is most dangerous. Now let's look at my belief that the current trade I am in will be a loser, that I have no pact with God for success on this trade. Indeed, I genuinely believe the market is not precisely perfect. Keep in mind the data for this belief overwhelmingly supports it; 75 percent of mutual fund managers do not outperform the Dow, 80 percent of short-term traders lose their risk capital. On a personal note, many of my own trades do not make money, and I can positively guarantee many of yours will not succeed.
No major loss I have ever had, and I have had more than my fair share of them, has been the market's "fault." "They" were never out to get me. I got myself by believing my current trade would be a winner so I did not follow the rules of the game. I agree with those who say you are only as powerful as your belief system because that belief will give you the power of taking an action with more certainty and less hesitation. We act out what we believe: those mental beliefs are the scriptwriters for our play of life. Adopt my belief that the current trade will most likely not work out and you sure as heck will protect yourself with stops. You will control disasters, taking the first lifeboat possible instead of going down with a sinking ship. Adopt my belief that the current trade will most likely not work out and you sure as heck will not load up on a trade, banking on it to ball out all your problems. A tiny loss can wipe you out when you have taken a very large position or number of shares or contracts. Positive beliefs about future results cause us to take on undue risk. Doing that in a game where the odds are unfavorable to begin with is a sure invitation to disaster
Expectation of Trade Loss
I believe the current trade I am in will be a loser and a big loser at that.
Your trading success starts the day you realize losing is normal
I will repeat everytime i log on to my metatrader 4, metatrader 5, tdameritrade and tradingview accounts
Daily repetition is the secret to living a good life. It's not rocket science, it is so simple you could reject it, it is so simple you could not pay attention to it.
I will do the daily repetition of repeating those two above sentences multiple times a day.
Hopefully that will lead to not blowing my accounts anymore and hopefully i will have some wins that will grow my account. We're are in march 2022. hopefully by january 2023 those two sentences will be buried deep in my subconscious through constant repetition and i will be a successful trader. something i've wanted since 2008 but i didn't know the value of repetition so i didn't repeat larry williams belief and it didn't become my belief
Larry Williams Continued.....
No matter who they are or what they do, highly successful people read. That’s a trait that has stood the test of time.
I read my first book, Think and Grow Rich, at the age of 26. Reading and studying that book changed my life so dramatically that I’ve read every day since.
People often ask about my study habits, so I’m sharing my process with you today. Before I get into it, however, I want to share two things with you that explain my unconventional approach to reading.
If You Study to Remember…
I want to share a quote from a book titled College Sense: What College And High School Advisors Don’t Tell You About College. The author is unknown, but the quote reads, “If you study to remember, you will forget. If you study to understand, you will remember.”
Here’s why those statements are important…
Education isn’t about hammering information in. It is a process of drawing the very best out of ourselves. The word, education, comes from the Latin word, Educo, which means educe, develop, or draw from within.
So, if you study only to remember—and that’s what most people do—you will forget. But if you study to understand, you will remember because understanding creates awareness. You create a consciousness that you will never lose.
333 North Michigan
Studying to understand was driven into my mind back in 1966 on one of the most memorable days of my life.
You see, I was a very fortunate young guy that day—I had managed to get a full hour to interview Earl Nightingale.
I was pretty nervous when I arrived at Earl’s office on North Michigan Avenue because I had been studying his work for a long time, and my life had changed because of it.
Fortunately, as Earl and I talked, I began to loosen up. At some point, I noticed a wooden stand on his desk, and I asked him what it was.
Earl said it was a book holder to keep a book open at a specific place.
“Isn’t that kind of awkward for turning the pages?” I asked.
“I don’t change the page.”
I was confused.
“You don’t change the page?” I asked.
Earl said, “Bob, you know that repetition is required to change your behavior. You have to put an idea in your subconscious mind over and over and over again. So, I pick an idea on a page that I want, and I read it until I find myself doing it.”
I’ve been using a book holder ever since.
Read Something Every Day
But I don’t just read a book; I really study it.
It’s not unusual for me to read the same paragraph a thousand times or the same page every day for months. Not long ago, for instance, I had a book on my desk that was open to a page where I read the same two paragraphs every day for six to eight months.
Why?
Because I know it’s essential to read to understand and apply, not to remember like I would if I were studying for a test.
So, here are my study habits:
1. Find a book that can teach you to be, do, or have something you really want.
2. Study it every day. (I study early in the morning, usually for about an hour.)
3. Read it slowly to try to understand the truth of what the author meant.
4. When you come across an idea that attracts or intrigues you, read it over and over (day after day, week after week, month after month), even if you’ve memorized it.
5. When you can apply what you’ve been reading (the idea is planted in your subconscious mind), move on to the next paragraph or page and repeat the process
Study Leads to Success
You know, I used to blame my circumstances of not making much money on the fact that I didn’t have a formal education or business experience. But once I started studying, I discovered it had nothing to do with either one of those things and everything to do with my self-image.
Don’t let a lack of awareness keep you from excelling in life. You can find EVERYTHING you could ever want to know in personal development books that interest you.
As you’re studying, keep this in mind …
You already have everything you need to succeed locked up inside you. Reading and studying draw out and develop what’s already within. It empowers you to be your best self by developing more of your untapped potential.
To your success,
Bob Proctor
But I didn't repeat the thought for hours " I believe the current trade that I am in will be a loser and a big loser at that"
I didn't repeat that thought for hours so I have been taking big losses and wiping out accounts for 9 years
For more than 9 years since 2008
take the loss at the stop position and lick your wounds. There will always be another day to day trade..
Most traders focus only on winning, on making the big trade. It is much safer to think first about losing and how to manage and control losses. When you learn to ski, one of the first things your instructor will teach you is how to fall safely. Not knowing how to lose safely can result in catastrophic losses.