Good going innercircletrader!
In my trading all i want is consistency not large returns. Consistency is what investors want. Hers a list of reasons why you want consistency instead of large fluctuating returns.
- How you get wealthy trading is not only through trading but through having a great track record that shows consistency over 20% per year. This track record is what becomes appealing to investors.
- Trading is only one part of your life. Think about it. Your bottom line in life is to be happy that is it. If you make trading the only thing in your life you simply won’t be happy. And you can’t trade without being happy. You need to be a happy to trade. Only way your going to do that is by having a balanced lifestyle. Only way you can do that is by not being stressed out of your mind. Only way you can do that is by not being overexposed in the market and having good money management skills so when you are doing other activities such as sleeping, being with your wife, kids, friends and family, you are actually there.
- Another reasons to use good money management. No one wants to be the riches man in the grave.
- You net worth doesn’t equal your self worth. I find being a humanitarian gives me an edge in the market. Yeah i trade. But my trading style is complete an utter boredom. Ive only made 1 trade in the last week and that was for the AUDNZD when it broke its last psychological support level. This allows me time to keep a balanced life and focus on things in my life that are going to increase my overall happiness
- It stops you from being stressed
- More than 25% return pa is plenty for investors. The most important thing is just showing some return each month.
- You can sleep better
- The balance in your life is more important than the balance in your trading account
When you begin to think like this you begin to stop thinking about making money and you start to think about making good trades. The outcome of good trades is money.
Biggest problem with most traders is that they think about the money too much.
THINK ABOUT THE TRADE NEVER THE MONEY!!!
PSYCHOLOGY > METHOD > And you try not to think about the money. It clouds your judgement.
This above quote is just complete rubbish… Really gets to me when people sell crap.
If you start of with $10,000 and you make 120% per year for 10 year your trading account balance would be $26559922.79.
My aim is to make around 30% per year.
Gorge Soros fund is the most successful fund in the world and its annual return is at 21%.
Warren Buffet Annual Return is 22%.
And they are both billionares why?
Because they have consistency not some crazy return. Consistency is what makes you super wealthy.