Don’t be a STILL trader
I warned you in the previous article “What is holding you back?”.
You read it.
You took it in.
And you stayed back…
This means, you’re not holding back anymore. This means, you’re becoming a STILL trader.
This is dangerous because, once you enter into a comfort zone of not doing anything – you might as well stay there and never take action.
In this wake-up call article, I’m going to hopefully convince you to not be a STILL trader.
Let’s do it…
“Timon, I’ve been following your trading tips for the last 12 years and I STILL haven’t taken my first trade. I’m thinking of taking you more seriously soon”.
Like tomorrow? Next week or in the next 12 years?
Procrastination is the thief of time. I hate clichés but I love that saying.
#1: STILL not ready for losses
I think most people don’t want to take losses.
They are seen as small failures or small fractures to a person’s pride and bank account.
Whether you’re running a business, a household or a trading portfolio – there are going to be oopsies.
So how do we deal with the idea of taking losses?
Well, don’t think of them as losses.
Think about them as costs…
When you run a business you have to pay costs – equipment, stock, admin, salaries, legalities etc…
When you run a household you have to pay costs – electricity, water, take the trash out, taxes and repairs.
When you run your trading account you have to pay costs – Losing trades and drawdowns…
You pay costs with everything in life, and so it shouldn’t be any different with trading…
Instead of calling them losses – call them ‘costs of trading’. Helpful?
#2: STILL no right system
This one is common.
You don’t know what the right system is for you.
You’ve tried a couple of moving averages, indicators, price action even volume.
Nothing seems to work for you yet… I don’t have a correct answer for you, but I can tell you with how I found my system.
I wanted something that didn’t require too much thinking, little indicators, worked on all time frames, was easy to back and forward test and is timeless.
And the MATI Trader System that I perfected in 2011, was my Holy Grail…
And I’m happy and grateful for it to be so many MATI Trader’s Holy Grail too.
“Timon, been using the MATI Trader System for the last four years and my portfolio is 200% up and I have even treated myself to France. Thank you for the comfortable life my friend!”
So ask yourself exactly what you want in a system and drill down each detail that matches your current lifestyle and times…
Just maybe, the answer will stand out for you better.
#3: STILL Not making money
Now this is ambiguous.
If you end up positive for the year, you’re making money.
If you’re not happy with how much money you’re up for the year, that’s different.
If you have achieved 35% return in a year a R1,000 will turn into R1,350 – WINNING.
If you have a R1,000,000 account and you’re up 35% for the year. That’s a R350,000 return – WINNING!
It’s all relative.
Step one is to make sure your portfolio is positive by the end of the year.
Then it’s a numbers game as to what your portfolio should be to make more of an income.
But first make sure you’re in the positive before you play with Mr Market.
#4: STILL Making excuses
The only thing I can add to this is the wonderful comfort zone of doing nothing.
It’s safe, it’s consistent and we’re used to it.
But if you are constantly thinking of wanting to trade and build your wealth on a regular basis – it tells me you’re ready but not ready to leave your comfort zone.
You got to pull up your socks and just START. The hardest step to trading is taking your first step.
I hope these tips will help you shake off the STILLness that’s lurking inside you, so you can achieve greatness.
Not sure the best way to get started with MATI Trader?
Follow these steps to start your successful trading journey.