Hi guys, I had a pleasant surprise when I arrived back in Portugal after a break in the UK.
What happened?
One of my private students has turned the corner from losing a substantial part of his account earlier in the year to a pro-level trader within 3 months of joining me.
Whilst I was away he continued his progress with the help of Thinus & Ashley and is now on the verge of quitting his well-paid job.
If you dream of trading for a living. Maybe quitting a job you don’t like and maybe even hate, then I explain the steps you need to take in the early part of today’s video. I share the lessons he has learned and the things he is currently focusing on to continue to improve.
The good news is that none of this is rocket science and its the same message I have been giving you since we started FMP way back in 2008.
Some of the things he has learned:
- Focus on the big picture. We have real funds available for folks to trade. On a million $ account he would have made around $20,000 for himself each of the last 2 months.
- Treat trading like a business, not a hobby, nor get rich quick scheme
- The importance of having a business/life plan and trading rules
- Sticking to those plans, week in, week out
- To be accountable & learn from his mistakes
- Focus on reducing the number of losing trades by sticking to the rules and trade plans
- DO not jump into trades that don’t fit your rules
- Improve the profitability of each trade. Only take trades that have the possibility of making at least twice the risk…this is still a “work in progress” for him that we will focus on next
- Don’t trade gold unless you really understand all of its nuances
- Understand how all markets are interlinked & crucially, how, why & when money flows into and out of the $USA
- Understand how psychology affects your trading and results. Just being aware and following the daily routines that Rich Friesen has set for him has had a very positive effect. Last month two of the trades that were lost should not have been taken as he didn’t feel 100%. If you don’t feel well, are tired or out of sorts…do not trade
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