Dear TradeZella,
When do traders typically start to see things "click"?
Every leader in the trading space gets this question on a frequent basis. π
And every newbie trader is wondering what the answer is. π€
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"When will I start to see the light at the end of the tunnel?"
"What do I need to do to be profitable?"
"When are things going to click for me?"
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Whether you're an experienced trader who knows the answer, or a newer trading still searching, this one's for you.
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In this discussion, you'll learn:
- When you'll start to see things click
- How to get there (it's simple, but not easy)
While there is a clear answer to this question, we want to preface this with the fact that every trader's journey is different. π
- Some folks find consistency quickly while others take more time.
- For some traders, it clicks like an on/off switch, while for most, it's more gradual.
Everyone is different, so you can't compare yourself to the trader next to you.
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When you'll start to see things "click"
The short answer...
When you shift your focus away from profits and towards the process. β
Like most things in trading, it's a simple, but a truly difficult thing to do.
Once you've completely rid yourself of focusing on:
- your P/L fluctuating on screen
- a magic number of profits for the day
- how much money you can make
- the cool things you'll be able to buy if the trade pans out
You'll have full focus on the process- which truly is the important part. π
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The process is the MOST important part of any trading career. Consider this your "focus on the process" checklist:
- your initial trading education
- continued education
- statistical, tested edge
- your pre-market routine
- your strategy, playbooks, and setups
- risk management plan
- how you intend to preserve your capital
- trade management
- your routine and habits outside of trading
- what you include in your journal
Ignore the P/L. Focus on the above. And you're golden. π
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Tips on how to get there
1. Hide your P/L from view.
During the trade, don't give yourself the ability to see your P/L. The only amounts you should know:
- How much you'll lose at your stop loss (and be able to accept this loss)
- Your planned R-multiple
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2. Size down.
Sizing down gives you the ability to "not care" about the money, because it'll likely be so little. Utilize this to focus on the process behind your trading. π
Some traders size down so much that a good win on the day might be $10.
A win is a win.
Once the process is sound, that $10 can be scaled to a $100 win, $1000 win, or $10,000 win in due time. π
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3. Define ideal and unideal conditions.
This will help you preserve your capital because you'll be able to spot a "cash" day more easily. π
Instead of going in with a few trades during treacherous conditions, you can make your trading system more sustainable and less stressful to follow. πββοΈ
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Remember guys, it takes time to fully transition your mindset from ogling at profits to becoming obsessed with your trading process.
It's certainly easier said than done.
Use your journal to take notes on your mindset and emotions. Honesty and awareness are the first steps into addressing the issue.
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User Highlight
Inside the mind of a full-time trader
This week, we had the pleasure of speaking with Max Heaney, also known as Big Daddy Max.
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He's a professional trader who took his portfolio from $35,000 to over $1,000,000 in just 2 years using a mix of options trading strategies. π€―
You may have seen some of his impressive TradeZella recaps on Twitter or Instagram. π
We asked him about...
- his trading journey β
- what he likes about TradeZella β
- his goals for the future β
Let's dive in!
TZ: Hey, Max! Thanks for chatting with us. How long have you been trading for?
MH: I have been trading for 5 years full time now.
I was doing it part time with a sales job for over a year and then I made enough to feel comfortable taking the leap.
TZ: You've certainly been at it for a little while then! Congrats on taking the leap into going full-time. Anything unique about your trading journey?
MH: Yes! The most unique part of my trading journey is that I went from a profitable swing trader to full time options selling.
I believe in the sell side of options trading long term and using all the tools in my options trading tool kit.
TZ: Interesting! We don't often get to interview many folks on the selling side, so it's great to hear of one of our members excelling on that front.
Options selling can definitely be a lucrative strategy if you know what you're doing.
Obviously, you've posted some pretty impressive months lately, what got you turned onto using TradeZella as your journal?
MH: I chose TradeZella after seeing a bunch of my friends who are full time traders make the switch to it.
I also have been following Umar for many years, so why not support the king of options trading?
On top of that, TradeZella solves many issues.
It paints a beautiful layout and picture for your trading results.
For me, the R multiple that I was beginning to get complacent on was shoved in my face and now I canβt stop considering my R multiple.
Itβs improved my options selling tremendously.
TZ: That's amazing to hear, Max!
Any goals for the future or things you think people should know?
MH: My goals are to help educate as many people as I can about options selling and help them produce a nice small piece of side income!
As far as anything that others should know...
I want people to know that it takes years to become a profitable professional trader.
Just like a doctor or lawyer, all successful traders have many things in common.
They never quit, they take paychecks, they donβt trade every day.
TZ: Well said, Max! Thanks for sharing your experience with us. We can't wait to see how the rest of the year pans out for you!
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If you found Max's story inspiring and feel like your trading operations deserve a boost, check out TradeZella. π
Eager to join?
Click here to get going. π
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