Realistic Goals

To be a successful trader you need to make smarter trading decisions. You can't expect to open a $5,000 account and earn $1,000 a week. You need to set realistic goals for yourself. There is no holy grail.

The holy grail is within you. You must create your own method so that you can fully understand it and so that you have complete confidence in it. It will take years to be a consistently profitable trader.

You will spend a lot of time and money along the way, so you must remain realistic about your future as a trader.

"If you have great expectations about trading, throw them out"

Don’t expect to make a lot of money. Don’t expect things to be easy. When things go bad, quit. You cannot allow trading to grind on you, to wear you down, because it can literally wear you out.

Don't put your face to the market. Replace 'Let your winners run' with 'Take your money and run'. When your balance has grown, you can endorse concepts like “let your winners run”.

The fact is that if you want to trade for a living, you need consistency a lot more than you need big wins, and veteran traders know that big wins don’t come consistently. The implication is that looking for big wins is less productive. The direction your account balance moves is more important than the speed at which it changes. Can you end each day with just a few ticks of profit? Small gains will keep you into the game.

"Success is based on low expectations...Nickels Holding Up A Dollar"

Watch this video that shows what everyone should know about trading. Please, take your time and think about that seriously...