As a trader, we must focus on the skill of trading instead of the money. This is a powerful trading lesson for those who are starting out and have dollar signs in their eyes. You will learn more about the discipline of trading no matter if you trade stocks, forex, precious metals, ETFs or CFDs.
Instead, trading is a combination of skills that we must learn, just like a tennis player at the elite level.
Some of the best sportspeople in the world start out focusing on how much money they can make, and realise quickly that it will not win them majors.
Once they stop focusing on the money and instead focus on the skill of tennis or in our case, trading, then results often improve dramatically.
In order to become a great trader, you need to focus on the skills that the best traders have and then execute your trading plan.
Click play on the video below to watch the training.
Welcome. My name is Darryl Nagel. And today I want to talk to you about the topic of focus. So when you're taking the next trade, you're about to press the button to type the trade. What is your focus? Are you focusing on the money or are you focusing on the skill of taking the trade? I believe that trading is a skill it's like any other skill that you've learned. I'll give you the example, for example, of tennis supplier. So at the moment, we're about to have the Australian open tennis for 2021 Djokovic. He's there going to serve for the match he's about to serve. Where is his focus?
Is he focusing on where he's going to put that serve or on the money that he may gain as a tennis player? Where is his focus? I suggest it's on where he's going to put that next dice. And so when you're taking the next trade, don't focus on the money, focus on the school, ensure that you do have an edge with your trading. You taking a significant number of trades, because to me, it's just simply a matter of taking each and every trade in accordance with your trading plan. To me, trading is experiential and intellectual. You don't have to have a large amount of education at all. In fact, to me, the simpler, your trading plan, the better, the more complicated it makes it hard. When you learn to drive, did you learn on a semi-trailer or did you learn on a car that wasn't easier to learn on a manual transmission or on an automatic? Obviously it's the same with trading it's experiential, it's actually doing something. And so we learned to drive by just driving, practicing. We did have to have a licensed driver sitting beside us and you don'twith trading, you can start off with nobody teaching you. You can teach yourself sometimes it's good to have a trading buddy to, to assist you. So I just want to say don't focus on the money, focus on the skill. And with that, I believe that you truly will be able to make trading your business. Thank you.
Darryl Nagel has over 40 years of experience in the markets and has taught many people on the skills necessary to trade the global markets full-time.
This content may have been written by a third party. ACY makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by any third-party. This content is information only, and does not constitute financial, investment or other advice on which you can rely.
