I spent over $50,000 on education & losses when I first started trading I'm going to share everything I learned below so you don't have to A thread ๐Ÿงต $SPY

1. Build a solid foundation Many courses promise 'secret strategies' and other guaranteed ways to win, it's all BS. The first thing you must do is master the basics. Candlesticks, Support, Resistance, Supply, Demand. Just like building a big house, it starts with foundation

2. The 'Military mindset' with trading You want your trading to be like any successful military, multiple branches to get different jobs done The best courses I've taken have all emphasized this Build on your foundation with several 'go to' strategies that fit YOUR style

3. Size matters: Less is more I don't care if you have $100,000 ready Start with $2,500-$5,000 and build If you can't manage $2,500 you can't manage $25,000 Having more money DOES NOT make you a better trader

4. If size matters, how do I do it? Great Question. We want to keep a MAX risk of around 5% of the port / day If you're trading with $5k, I don't want you losing more than $250 in a day. Absolute MAX $500. We need to keep losses SMALL in the learning process

5. Trading is 90% mental, right? Wrong. Yes psychology is huge, yes it's a big part, but many of your psychology issues stem from a lack of confidence / system You can't build good psychology on bad trading You HAVE to have solid technicals and a solid system to build on

6. Ok, so how do I build a system? I love this question. Every person is different. I suggest starting with Support / Resistance, Supply / Demand, Candlesticks, and finding a FEW indicators you like Find a set position size for you Enter: Repetition, watch over and over

7: System building continued Having a system is having a set of rules that confirms a trade / gives you confidence in it If you're trying new strategies everyday, you will ALWAYS be confused / anxious in your trades Find simple strategies that work and master them NO GUESSING

8. Discipline is the decider I've seen and helped traders make $100k+ and then lose it all That f*cking sucks. I've seen and helped traders turn $100k into $500k The difference? The winners stuck to the their discipline / plan religiously. It's an every day task.

Finally: "A lot of traders lose" Yeah? and so do many entrepreneurs, businesses, restaurants, etc. There's risk in everything, our job is to beat the odds. I teach free game every day to help you do just that RT & Like this to help others and if you got value from this โ™ฅ๏ธโ™ป๏ธ

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