Knowing how to trade isn’t enough!

Some good points made here.

“More often than not, good traders have gotten out way before price even gets to their original SL, because they recognized quickly that the trade won’t work out, minimizing their loss.”

I would say just one thing trade smaller and give yourself time to see your results it’s like being to close to the screen and not being able to enjoy what you imagine

I was a day trader and always worked on H4 charts, but switched to a longer termed prospect and found myself a commission free broker and started trading mostly based on daily to weekly charts, much better now. Not saying that I am winning every trade but you cannot believe how better you can manage risk and think about everything with a wider view. Not to mention it is all less stressful too.

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Bravo @Ethan.ishere!

It’s encouraging to see traders start to “get it”

Day trading can be profitable by those who know what they are doing, but a lot of losing traders never make it past the misconception of having to apply their “edge” as often as possible.

Once you develop real trading skills, then you can actually design a process to suit your lifestyle. No better way to make money than while sleeping, sailing, playing golf or writing replies on BabyPips. :rofl:

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Thanks man, yeah passive income while having fun is the dream worth chasing :laughing:

I have been thinking of trading indices even though not yet started. Do you provide mentorship?

Sure passive income is great.

Just to be clear though, what I do isn’t passive income by any stretch. “My job” is to manage my company’s portfolio of 40+ positions and assets. Just the time horizons for these investments and positions are in years. So “I work” on average 1 hour / day doing daily analysis and monitoring positions, but I can easily be away for weeks with zero impact. Having said that, when you do what you love, it doesn’t feel like you work a single day in your life and it very much feels “passive” :grin:

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