The best traders recognize their success not only comes from investing ability, but also investor MINDSET.
One of the biggest keys in stock market and investing success is having the right mindset.
In the short video below, I share with you 3 mindset tips that can help you.
1. You don't have to trade everything
I see a lot of newer traders come in super excited and they start to trade everything.
Well what happens with that is now you are constantly watching your account and your trades...
It may suck up all of your time.
Instead, I like to put power behind a few trades with enough time before they expire, so I am able to keep my mind of trading and really be present when I spend time with my family.
2. Don't view trading the same as your job
Most newer traders don't recognize that the stock market is unpredictable.
When you have a job, typically you clock in and out and are "guaranteed" a certain amount of money for that time.
In the stock market, you can make money, but some newer traders get frustrated if it doesn't come the moment they want it.
If I make $100K in trading in one year for example, I don't know if that will come in the form of one trade, or many trades throughout the year or when.
The point?
PATIENCE. View trading differently than your regular job.
3. Get out of a trade the moment you're wrong
Some newer traders create a "bad habit".
Which is seeing a stock take a dive or something unexpected, and not getting out. Instead they WAIT for it to go back up.
Even if it does - that is a bad habit to form. Why?
It is never about that one time the trade happens to turn around and you make money.
It is about the one time it doesn't and you blow up your entire account.
Instead, get in the habit of having an "I'm wrong" level BEFORE you enter a trade. And the second it hits it, get out.
