How to become an Overnight Trading Success Story

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As traders, we all yearn to become an overnight success – dreaming we will make a million dollars through our trading. My partner and I have been fortunate enough to do just that, and we’re happy that we’ve empowered a few of our students to achieve the same also. But this success wasn’t an overnight story where we learnt a few things about trading, sat back and made lots of money through trades. In fact, it took a LOT of hard work and sacrifice. Unfortunately, people have the perception that as a trader you were in the right place at the right time and caught a ‘lucky break’ – they don’t see, or if they do, they don’t recognize the hard work that goes behind it. It’s not without exaggeration that at one point in time I was studying the markets 7 days a week for 10-12 hours a day – just to try understand how I could trade profitably. So how do you become an overnight success story? Here are three key lessons.

Know your trading goals and what you need to be successful – It’s not only fundamental that you have tangible goals and rationale for each of them, but a road map towards achieving them. This allows for self-reflection and to track our progress – without such, we drift aimlessly towards achieving nothing. You need to understand what is necessary to build your success, and maintain this direction. What will you trade? How will you trade? What will be your strategy?

We all want to be successful, you can too if you take note of these important lessons

We all want to be successful, you can too if you take note of these important lessons

Learn from a mentor – mentors offer the most direct method for continual improvement and feedback. Not only will they help you cut down on the trial and error mistakes you might make as a beginner trader, but through their own experience and achievements they function as a short cut towards your trading success. They have done the journey as a trader. They’ve experienced the highs and lows there is, and who better to probe for all the right advice on how to achieve your dreams.

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Practice, practice, practice until you become an expert – success takes an incredible amount of hard work and effort. Ultimately, everything you are prepared to invest will build up your knowledge and capabilities, and will pay off in due course. Setting expectations that are too high, or wanting everything in the here and now, is a recipe for disappointment. Those who became mega-successful put in the hard work, and you should too.

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