I’m London bound for the London Investment Seminar which is
taking place tomorrow. Unfortunately that means I can’t trade today. The free
WiFi in first class manages to run IG but the Pro Real Time charts are cutting
out and freezing. On a plus note, isn’t it a nice way to live whereby you’re
actually annoyed that you’re having to miss work? If you can find your passion,
work really doesn’t need to be a chore – and since you’re reading this blog
post, I can only assume that your passion, like mine, is trading.
On the previous video I posted which gives information on
how to enter the competition to win absolutely free access to my training
course, I asked people to comment with what they struggle with in trading or
what they would like to learn more about. One of the comments I received
related to something that is often overlooked when trading – boredom and
frustration. Unfortunately I can’t check who wrote this comment because YouTube
is also blocked on this WiFi.
However, boredom and frustration are a very common part of
trading. Beginner traders expect excitement. In my experience, this usually
leads to them dropping down timeframes until they reach the 1 minute charts.
It’s difficult to comprehend that trading – the realm of bad boy bankers, the
subject of intense films like ‘Wall Street’, can be boring. But for 90% of the
time – it is.
You wait for the setup you want. On the 5 minute timeframe
that might happen twice a day. Once every 4 hours! On the one hour timeframe it
might be once every couple of days. 4 hour timeframe – once a week. What do you
do for the rest of your time? Well, hopefully you don’t just sit and screen
watch. I set alarms and if the market reaches my zones, only then do I take
notice. Screen watching is fairly dangerous. It can turn boredom into
frustration and before you know it you’re entering silly trades.
Ill just scalp a
couple of points whilst I’m waiting.
Sound familiar? I bet it does. Avoid it at all costs. Accept
that trading can be very slow and yes, boring. But reframe it! It frees up your
day. Remember all those times you sat in an office or at school and thought
‘I’d give anything not to have to be here right now.’ Well with trading, you
don’t. What’s your passion? Reading? Writing? Painting? Box Set marathons? Online
educational courses? Learning a new language?
You can do any of them and all of them. It’s difficult to
accept that you don’t need to sit at your desk and focus on every movement of
every candlestick. But you don’t. Let everyone else work hard whilst you work
smart.
The commenter also mentioned that it was difficult to make
his family understand that this is what he wanted to do instead of getting a
‘real job’. Without sounding rude, I want to say that it doesn’t matter a damn
what anyone else thinks. If you love trading and you are willing to put the
time and effort into learning, then do it. It’s your life and there is no
roadmap, no matter what people try and tell you.
Check YouTube tomorrow where I’ll post my trading results
for this week to show you that the last video wasn’t just ‘some fluke’. I’ve
only worked three days this week (due to me heading to London now) and banked
over £1,000. Hopefully this will assure all of the people who are unsure that
trading the 5 minute timeframe is a viable business.
I hope you’ve had a great trading week!
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