4 Essential Trading Lessons From A Successful Trading Student

Every successful trader has gone through a different journey on their path to profitability. Every trader has a unique perspective on the markets, and it is worth listening to as many traders’ stories as possible. A common theme you will find is that every profitable trader had to go through immense adversity to get to where they are today.  

Check the video below of our latest presentation in Dallas featuring one of our top students Brian Boyd, on his path from struggling and getting beat by the markets, to finally finding his consistency and edge over the market to grow his account. Traders of all experience levels will learn a ton from this presentation:

Dissatisfaction With Traditional Finance

One of the motives Brian identified for seeking a more active style of investing was his dissatisfaction with traditional finance. Traditional finance preaches the importance of long-term holds, stocks with sound fundamentals, and avoiding volatility. Traditional finance is suitable for the risk averse, and people who do not want to take the time to invest actively.

Brian, and most of the people reading this, are seeking a more active style of investing that can grow wealth in a short period of time. This is why Brian got into swing trading and day trading. Higher risk, but higher reward.

“You Either Stop and Accept Mediocrity or You Learn to Play the Game”

Brian quickly learned, like most new traders, that day trading and swing trading stocks is not easy. Very few people have an inherent ability to be a successful trader. This does not mean you should not try. Trading requires you to completely reprogram your brain in order to develop the right instincts to make money in the markets consistently.

No worthwhile outcome in life is easy to obtain. Brian identifies a crossroads every new trader must go down: You either accept that you do not have what it takes to be an active trader, or you take the time and energy to learn how to make it.  

No Overnight Success, Persistence Is the Only Way

As we talked about above, it takes time to develop the system and mindset to make consistent profits in the financial markets on your own. Overnight success is a myth in the financial markets. Making money in the stock market one day or even every day for a week does not by any means mean you are a successful trader.

You have to prove that you can consistently extract income from the stock market for months before making any kind of decision about leaving your full-time job. Consistency in the markets is so difficult because a few moments of undisciplined trading can wipe out weeks or months of green days. This is why you need to be macro focused with your trading results, not what happens day by day.

Base Hits Add Up

Brian highlights a common misconception that many new traders have about trading: You need to hit home run trades every week. This misconception is what causes so many new traders to fail. They try to get rich overnight in the financial markets, and don’t realize that consistent base hits are the key to building wealth. Brian’s trading style is primarily swing trading, and he only makes a few good trades a week.

He is very selective on the setups he takes, and he only strikes when the setup is A+. He does not swing for the fences, and takes 5-10% gains consistently. You DO NOT need to be making a lot of trades to make a lot of money in the markets. You only need 1-2 base hits a week to make a solid income from the markets.

Join Brian’s Free Training Tonight

Brian will be doing a free webinar with me tonight (Aug 29th) at 8 pm EST. He will be going over his journey and he went from struggling trader to now being one of top students.

Sign up here.