Feb. 3 at 4:30 PM
$META $GOOGL $TSLA $PLTR $ORCL
Below is a post I made on my Discord channel this morning that I thought I would share here as well.
Please note this is my personal opinion regarding what it takes to become a successful speculator and I am not intending to convince, or offend, anyone who believes differently.
Notably, my opinion is derived from my personal experience as well as studying professional traders who are much smarter than I am.
Here is the post:
"I wanted to take a moment to mention something that I believe is of the highest level of importance.
From studying great traders who are MUCH, MUCH SMARTER THAN I AM, I have come to realize that there are two primary dimensions involved with being a successful speculator. They are:
1) A technical mastery to understand how the market operates and how to develop an 'edge' to put the odds in your favor on every trade, how to manage trades so losses don't become catastrophic, etc.
2) The development of SELF-MASTERY which enables you to follow your system and not allow emotions to guide your trading decisions.
I don't have time to get into it fully here but I want to emphasize that:
IF YOU DO NOT DEVELOP THE SELF-MASTERY ASPECT THEN THE ODDS OF YOU BECOMING A TRULY SUCCESSFUL TRADER IS MASSIVELY REDUCED.
IN FACT, WITHOUT SELF-MASTERY I WOULD ARGUE THAT YOU WILL NEVER BECOME ELITE.
To be clear, while we often talk about things like "Discipline Trumps Conviction" the problem with most people is not a lack of discipline or effort.
For most people, the reason they are not able to execute the plan they have created for themselves is PSYCHOLOGICAL.
Again, I don't have time to explain it all in this post but I have come to realize that my role in the investment community is to teach people the self-mastery aspect that will enable them to replicate the way professionals trade.
As I have mentioned elsewhere, this is NOT what most retail traders want.
What most retail traders want is for someone to tell them what to do so they can make money without doing all the work themselves.
Well...that is NOT the agenda I had in mind when creating the Godfather channel on this server.
My objective here is to teach BOTH the technical and the psychological aspects of trading that will enable members to truly master this trade.
This will be a PROCESS but one that I have learned empirically is well worth the effort.
It is not achieved overnight but through doing the work day in and day out so that you can develop your own system that works for you based on your own self-understanding.
I just wanted to make this clear so everyone understands what we are working toward in this Discord channel.
To be very honest, if you are looking for someone who promises you that they have some secret trading technique that others don't have then I AM NOT your man.
However, if you are committed to learning what it truly takes to be a successful trader and are willing to do the work to get there than I AM your man and I can help you get there over time.
Regards,
DC77"
