MeMO

Trading success looks like: ❌ Year 1: Losses ❌ Year 2: More losses ❌ Year 3: Different losses ❌ Year 4: Learning losses ✅ Month 1 of Year 5: Everything clicks The overnight success that took years

Ed Seykota’s trading rules: ✂️ Cut losses 🐎Ride winners 🔍Keep bets small 👍🏻Follow the rules without question 💥Know when to break the rules

To destroy fear of losing, think in probabilities. To destroy FOMO, trust your trading system. To destroy fear of failure think long term.

To Be A Better Trader 🔻🔻🔻 AVOID; ⛔ Chasing big moves late ⛔ Watching every tick ⛔ Trading too big ⛔ Holding losers ⛔ Over trading ⛔ Predictions ⛔ Opinions ⛔ Greed ⛔ FOMO ⛔ Ego

Most new traders fail because: They have no edge. They want every trade to be a winner. They don’t have a quantified system. They consistently try to predict. They have strong opinions. They want to get rich quick. They’re ruled by emotions. They go all-in on one trade. They’re afraid of losing trades.

If you can't manage a $1000 trading account, You can't manage a $100,000 trading account. More money → More emotions → More mistakes Build skills first, succeed afterwards.

A degree gives you knowledge; Trading skills give you freedom. In the market, it's not a diploma that pays it's your discipline...

Consistency is showing up every day. Discipline is following rules every day. Confidence is believing in your system every day. Your daily habits determine your trading future.

Trading is free. Except experience. Experience is the most expensive trading skill.

A trade entry alone is not an edge: Your edge is in not taking all the bad setups. Your edge is in managing your emotions and ego. Your edge is in journaling your trades and correcting errors. Your edge is in stress management. Your edge is in the self-discipline of system execution. Your edge is in trading a system with a positive expectancy. Trading is as much about the bad trades you avoid as much as the moves you capture. Your profitability arises from your wins adding up to more than all your losses. You are your own edge.

No FOMO. No overtrading. No revenge trading. No one becomes a successful trader without learning to wait for your trades.

Study your plans. Study your trades. Study your losses. Study your system. Study your emotions after a trade. Study your emotions before a trade. Study your mind. You will become a successful trader.

Never let anyone piss on your dream. Avoid all that weakens you... and that may even include some family and friends. Real friends will support your dream. I've never heard a super successful champion tell me or tell anyone "it can't be done... you can't do it." But underachievers say it all the time. Only those who never did something, say it can't be done. THEY HAVE NO CREDIBILITY! Dream big. Dream often. Act on those dreams daily.

Trading is not for everyone. It's not easy managing fear, greed and self-doubt on a daily basis.

Trading is not for everyone. You need: - Self-discipline - Self-awareness - Confidence - Consistency Trading is not for weak people.

Traders are managers, they must manage these every day: Risk Fear Greed Ego Hope Self-doubt Trading positions

Financial freedom is built through a combination of self-control in spending and self-discipline in earning.

In 2030, you will thank yourself for: - Learning to read price action - Learning to control your emotions - Learning to never give up Great things take time. Keep going.

@Joedwiz done

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