Hawai'i Trading Academy | Trading Coaching & Education

It would be a lie if the monetary aspect of trading wasn't at the foremost of our mind when we got into trading. 

In fact, profits is what drives so many people into the market with its endless, lucrative possibilities.

However,

New traders have a misconception that they can become a full-time trader in a year or less. Although possible, it is more than likely not probable of happening. Please read: IT TAKES TIME TO BE PROFITABLE.

Patience is a key aspect of trading.

You need to be patient in a live position.

You need to be patient before you place a trade.

You need patience with yourself and the systems you have in place when you take a loss.

Some of our best trades have occurred when we just let go of hoping and expecting something to happen. We walked away from our computers and let the trade run its course.

During a month long travel, I was trading at my best. In two back to back positions on NZDUSD & EURGBP, I was able to bank about 3% to close the week. It wouldn't have ...

7 HABITS FOR SUCCESS

Success - the favorable or prosperous termination of attempts or endeavors; the accomplishment of one's goals.

1. Show up. Showing up when you don’t want to. Consistency.  When you aren’t motivated. Showing up is sometimes the hard thing to do but there is no reward in easy work. No fulfillment. Showing up is like building muscle. Build that mental resilience. If you don’t use it and consistently develop and push that mental muscle, you will lose it. 
2. Water your garden (mind). Pour into yourself with books and self development. There’s so much resources out there thanks to technology, there’s almost no excuse to learn something new. Ever wonder why successful people continue to learn, read, meet new people? Because they know they can still play the game and still find ways to wins. 
3. Own your decisions. Own your successes, but in the same breathe, own your mistakes/failures as well. Every choice has risks and consequences. Take responsibility even when it isn’t y
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The Fear and Greed index on CNN business is at an extreme fear level at the time of writing this (OCT 2022).

Investors are fearful of the market uncertainty and rising prices. 

Fear is a big emotion that can be detrimental to a trader’s profitability. The good part about fear is that every. Single. Human. Experiences fear. 

Sometimes in the market it can be difficult to tell if you are trading from a place of fear or greed. 

There are four major fears that we discuss in this episode when it comes to trading. 

 1. Fear of being wrong/wanting to be RIGHT. - requires strong mental fortitude and resiliency. As long as your edge has the probability of positive expectancy, there is nothing to worry about. Your proven edge will let you know how often you will be wrong vs right and that alone should be enough to give you a peace of mind. Attaching to that fear state will lead to devastating thoughts that can affect the next trade and the one after that ending with lack of confidence. 

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