The thing I focus on at the beginning is strategies because that is where most people are starting from.
It is like sports where you need the basic fundamentals, you need to create and place a strategy to see if the strategy works and makes sense.
Now once you understand how that strategy works it is just a small part of the journey. The majority of the journey is getting consistency.
After doing paper trading and you go to live trading and things are not working that is a big problem which involves typically mental and that is where people struggle with.
So in this video, we’re focusing on is the jump from just regular trading to consistency trading.
To be able to get the consistency a lot of the focus is going to be the mental aspect.
Most people focus on the general aspect which is strategies. That is their core focus and only a part of it is their mindset and that is where the problem comes in.
If you look more of a professional-grade trader or a trader that’s actually even consistent one of the big ways to get there is to reverse that focus and to really hone in and do the mindset.
The mindset is much more critical and important than the strategy
As long as your strategy is somewhat sound if you have the mindset behind it that allows you to be consistent.
Think of the tennis players where they consistently hit the ball back and forth time after time and some lasted 30-40 minutes that is because of the mindset.
However when someone chokes out because they freak out that it lasts more than 5 minutes then the rally is done.
In trading, you start getting euphoric when the trade is going good or you start panicking when it is going against you.
For example, when the trade is going against you, you get out, and then it suddenly flips around and goes in your favor, you start getting emotional and getting angry and that is not a good healthy state of mind.
You need to focus on the mindset, don’t overthink, don’t overdo to the point where your mindset is still an issue and a problem.
