There’s nothing exciting about trading other than the lifestyle it will give you.
In the beginning when you first make a winning trade (or gamble as many have simply taken a stab in the dark) the feeling is exhilarating. It is natural. Enjoy the moment. Scream. Shout. High five.
But that needs to disappear.
A successful trading career that stands the test of time is built on flawlessly executing a trading plan with absolutely no emotion. It is simply business and in this business, we want serious compound growth.
If you are so excited that you need to share screen shots of how much money you have made or what % you have made this week, then it’s a good sign that there are periods where you lose a lot of money. The ego will make you compensate for the days it has been kept quiet.
When you have little idea of what you are doing, when you risk high for high reward on small moves, when you are part of high-energy WhatsApp group, you place little to no emphasis on protecting your money but rather losing it all for the high of a winning bet. It is not how the smart money does it. Throw in the clever marketing of fast cars and holidays and your focus will always be on chasing riches.