A Step by Step guide to becoming a profitable Trader 👇
✅First step, Learn before you think about earning from trading 🤝
✅Focus on one Trading system , You can learn multiple Concepts but you only need one trading system to succeed so Stop jumping from one Trading system to another.
✅Have a Trading plan and Make sure to include your risk management Plan in it. You will encounter losses no matter how good you think your trading system is, so Learn to manage your risk at all times
✅Journal and collect Data on your all your trades (both wins and loses)
✅Struggling with little capital? 👇compound profit with your small capital and grow it with time or Trade Prop firms , when you scale up you can Fund your personal accounts with profit made from prop firms.
✅reinvest your profit into other businesses or into trading (read books or watch Documentaries on money management )
✅keep learning and refining your Edge (don't stop learning, Stop learning and you Fade)
As easy as these steps may look, If you are not Patient enough to understand that this is a long term Journey, you will be stuck at the first Stage (looking for Strategies that will profit to invest over night).
Did i miss any other important tip? Drop it in the comment section
#Forever_in_Profit🥂
The game is on. ⚽
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Many of you see successful traders like us at PSYCHEDELIA and want to be like US but you find it difficult to do because you don’t understand
The 4 stages of mastery.
1. Unconscious Incompetence (Beginners/Delusional Traders)
I have no clue what I’m doing but I think I do ( delusion / denial / lies )
2. Conscious Incompetence (Psychedelia Students Tier 3)
I know now that i’m doing it wrong but i have the right information to enable learning and application
3. Conscious Competence (Psychedelia Students Tier 2)
I know how to do it right but i need real world practice to implement the knowledge . Needs effort and trying.
4. Unconscious Competence (Psychedelia Students Tier 1 / Professional traders)
I can do it right by applying the knowledge and making money without think about it too much. Now trading feels effortless and instinctive. Autopilot , like magic !
The goal is to repeat the right actions so many times that risk management, patience, and execution becomes your second nature.
Every professional trader was once a beginner.
At the end , Mastery is just repetition turned into identity