These aren‘t tiny misalignments that don’t matter in the grand scheme of
things... Im talking about seemingly benign misconceptions that will
adversely affect the entire trajectory of your journey to becoming a
consistently profitable trader.To be honest, it's not entirely your
fault thinking and believing that trading can get you rich quick.
Today, you can easily see all the ads on various social media platforms
telling you how much profits have been made, the crazy returns and
profits that trading can give you, the nice and fancy cars, and etc.
etc.
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I'm pretty sure you know what I'm talking about.
But the truth is trading is not a GET-RICH-QUICK solution.
Yes, trading can empower you to be financially independent, and it can make
you rich. But that's not gonna happen until you decided to commit to
this journey.
Think of it as a profession. It takes 7 to 10 years to graduate and practice as a doctor, an average of 14 years to be
a practising lawyer, and easily between 5 to 10 years to be an
architect.
It took me 3 years to transit and make it into a full-time trader, of course with many trial and error, many painful
lessons. Everything we do, especially for the very first time, it looks
or even feels scary. Because we haven't fully understood it. Think
about the very first time you decided to learn how to swim, or how to
ride a bicycle, or how to drive, or even how to cook in the kitchen with
a knife...
Aren't they all risky too? But as we get to understand the craft and skill better, and the more we practise, we get
better. And as a result, we learned how to manage our risk.
Trading is the same. What you need is the proper knowledge and skillset to
manage your risk, and the reward can be very lucrative.Ha! This one's a
killer! Most often than not, I get asked by traders who are fairly new
in trading what's the winning rate of my strategy. And they thought that
having a high win rate strategy equal being profitable.
This mentality then leads them to start seeking for the 90% winning strategy.
And as a result, they will often fall into the trap of constantly
searching, instead of becoming a successful trader.
The truth is the strategy is just a small portion within the success formula towards your trading journey.
Kar Yong started trading with just a humble US$500 when he was only 21, and
within 2 years, he managed to turned it into US$13,000. Owing to his
success, he was featured on Singapores Channel NewsAsia Money Mind:
Young Investors.
Today, Kar Yong is financially independent through trading and investing in the financial market. Having coached
over hundreds of traders across Southeast Asia in navigating the
financial market, he believes that anyone with the desire to do so can
succeed in trading.
