Many developing traders approach the markets with the belief that their energy should be immediately rewarded with substantial profits. This belief is amplified in today’s day and age, with many skilled traders sharing their profit screenshots via social media. However, this mentality is flawed and can lead to frustration, impulsive decisions, and ultimately, setbacks in their trading journey.
The Trader's Progression: From Survival to Thriving
Most newcomers expect quick wealth - A notion that, for successful traders, is comical. Achieving consistent profitability in trading demands an immense amount of screen time, strong problem-solving skills, unwavering discipline, zen-like patience, nerves of steel, ruthless decisiveness, and an indomitable will.
The Trader's Journey: Keeping Expectations In Check
Trading success is often measured by the size of one's gains and the ability to consistently turn a profit. After all, as traders we have a giant daily “scoreboard” telling us how well we are doing (in the form of our daily PnL). Yet, for many traders, these aspirations can become a double-edged sword, leading to unrealistic expectations and, ultimately, disappointment.