Happy Tuesday, traders. It’s Matt here.
I hope everyone’s week is off to a good start. I know things are getting rough out there. Inflation’s not cooling down just yet.
You buy groceries, you feel it. You get gas, you feel it. You use electricity, you feel it.
Sometimes life throws us lemons and it can feel like the chips are stacked against us. But if we stick to it — whatever solution we’ve come up with to turn the tables around — eventually, things can change dramatically.
Once I did, it wasn’t smooth sailing … but there’s a very specific routine I kept that led me to where I am today. Let’s get into the habits that turned everything around…
Can You Turn Life’s Lemons into Trading Lemonade?
I recently spilled the beans on a Challenge webinar. I told parts of my journey that I hadn’t shared before.
The stuff many successful traders would find embarrassing … but I think it’s important that you see the reality of trading full time.
You see, even after watching 3,500 videos, and not making any profits yet, I knew that I still had more to learn.
Every entrepreneur who starts a new business puts countless hours into getting it started. And they keep doing so well before the business turns a profit.
I knew I needed to treat trading like it was my new business. So that’s what I did once I joined the Challenge. I set up a strict schedule for myself that I followed every day. It went like this:
- I cleared everything else from my life. I said bye-bye to my planned engineering summer internship.
- Commit to studying the Challenge material every day like it was my business.
- Understand that entrepreneur days can be longer than work days … which meant I spent eight to ten hours every weekday (and sometimes weekends) on my new trading career.
- The first half of my “work day” was spent creating a watch list, watching premarket, and actually trading. I woke up two hours before the market opened.
- The second half of the time was spent watching dozens of DVDs, hundreds of webinars, and thousands of video lessons. That’s not an exaggeration.
That was my life starting in the summer of 2017. And I lost money more often than not that year. The two key things that turned that around were recording my trades and joining a community of traders.
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Once I could see what was going wrong, it woke me up to what I’d been doing differently from what I’d learned. Then, joining a community of traders introduced me to successful trader-preneurs I respected and wanted to emulate.
Day trading can be a career if you put the same level of training, study, and practice into it that you would any other career. It’s not gonna give you something for nothing. And that’s a good thing.
When you realize it takes hard work and consistent dedication to achieve something, it actually makes you feel like you have some control over the matter. And it feels more purposeful.
But I’m not gonna lie, the down days are hard. That’s why I needed a community of traders to help me see that better days were possible. Now, I’m proud that I get to be one of those leaders for my students in the War Room. Every week, we take a look at what’s happening in the markets, and what we need to do next to come away winners — hope to see you there!