Imagine not having to punch a clock and report to a supervisor, who doesn’t appreciate all your hard work. Imagine getting paid what you’re worth…without having to do any back stabbing, ass kissing, and be involved with office politics. Better yet, imagine living life on your own terms, setting your own hours, taking breaks to spend time with your friends and family whenever you saw fit. Well, I’m here to tell you it’s no pipe dream… and if I could do it, why not you?
For those of you who don’t know, I was a NYS public school teacher for a decade. Now, in pursuit of my degree, I had racked up tons in student loan and other (living expenses) debt. Sure, I enjoyed teaching and it was very rewarding on so many levels. However, being broke beyond sucked. It takes a toll on your well being, adds stress to your life and strains your relationships.
Eventually you get to a point where you say enough is enough. If we’ve got just one shot at life, why not go for it. One thing is for sure, I wanted to start living life on my own terms.
I knew the stock market was one possible road to financial freedom. The appeal was natural. After all, there are no office politics, you set your own hours, and there is no cap on what you can potentially earn. It’s also brutally honest; you trade great, it’s reflected in your P&L… you trade poorly, it’s reflected in your P&L. Everyday you get a new shot to showcase your skills.
So I did have one thing going for me, I was an expert in the learning process. Studying education, and then becoming a teacher allowed me to develop this skill. Throughout the years, I witnessed countless students develop new skills, even when there was a steep learning curve.
With that said, the quickest way for me to improve was to learn from someone who was successful at trading. I lucked out and was able to learn from Jeff Bishop, who mentored me and got me on the right road. Don’t get me wrong, there was a learning curve, but I was already prepared for that.
I knew that eventually I would start picking concepts up. I realized certain bad habits would eventually repeat, and I would improve on these habits. I understood the learning process and I believed with the right coaching and discipline, results would follow. Even though it took about 2 years for me to get that ‘aha’ moment, I was never discouraged.
When I’d prepare for an exam, I’d take a ton of practice exams. That same concept can be applied to trading; for example, paper trading allows you to test out new strategies with no risk on the table. You want to trade your best setups when you’re risking real money and leave your experiments for paper trading.
My advice is to start slow, developing as a trader requires time, but the payout is so so worth it. Trading has given me the financial freedom that I only could have dreamed about just a few years ago.
Great traders have great discipline, instinct, and they’re masters of position sizing. Not only that, but they’re able to stay calm and not allow greed to overcome them. These were all skills that I had to develop, but I knew I’d develop this skillset with enough hard work and faith in the learning process. I’m confident that you can become a better trader, if you believe in the process. I’ve reached a lot of financial goals, my goals now are focused on members, specifically guiding them to become successful traders.
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