I have been learning for the past few years now and I have finally reached a point where things have begun to click. Endless hours studying have started to pay but there is one thing I want to share with everyone. I am NO expert nor do I claim to be one. All of this knowledge was acquired by generous people on the web including Tim Sykes. But I just want to explain to you that there is more to stock trading than studying. Yes, studying Is imperative to your success as a trader but there is another ingredient that is just as important, and that’s discipline.
Intelligence is not the only requirement to this game. If it was I think everyone would be doing it. The challenge lays in your ability to be disciplined. (waiting for plays to come to you, keeping emotions in check, not getting cocky, and focusing on the indicators and not your expectations and repeating the same process day in and day out). Understanding the material Gurus teach and applying that knowledge to real time situations is a very difficult task and requires some grooming of your emotions. Once you master your emotions and focus purely off the indicators I think you will succeed. I am very grateful for the hot market we are in yet I am wise enough to know that this wont last forever but as long as it does I am going to react to what’s happening.
I started to make progress once I learned more about myself and how my mind works, once you understand how your mind works you can figure out ways to curve your toxic emotions (i.e. greed, FOMO, revenge trading) So here are some books that really opened my eyes and significantly helped my discipline all together.
Trading in the zone, The Daily trading coach, The slight Edge
I am always trying to increase my knowledge and improve so if anyone has good book recommendations or tips that they have learned along the way I highly encourage you to share because we have so much to gain from sharing info.For me eating healthy, exercising, and not smoking as much pot has been incredibly beneficial to my discipline. If you cannot be disciplined in everyday life how can u expect to be in your trading??