GP's Column: A Trader's Life

The life of a trader can be a lonely one.

Treating Trading & Investing Like a Business

Many people wouldn't start a business without proper preparation, yet, aspiring traders often cut corners on essential equipment, software, time, and startup capital.

The common mindset is, "How little can I invest and how much can I gain?"

This approach, coupled with unrealistic expectations, is unfortunately widespread.

Looking for a group of likeminded people to trade with? Text alerts and the MFGDiscord. Text GP 1-936-661-7786 or email GP fullauto11@gmail.com to join.

Questions like "How much money do I need to start trading?" often replace more critical considerations such as necessary equipment, relevant literature, and the amount of training and practice needed to become proficient.

Practice and training are rarely discussed.

Instead, people frequently ask, "What stock should I buy?" or "What is a good dividend stock?"

The question I dislike the most is, "What would you do with $10,000?"

There seems to be a misunderstanding that my actions with $10,000 would directly apply to their situation.

In trading, the most common inquiries revolve around stock selection and the indicators I use, but these aren’t the most important aspects of becoming a skilled trader.

The focus should be on the time and effort required to study and practice the art of trading to achieve proficiency.

Number 3 of My 9 Thoughts on Getting Rich is: "Structure your life around it.” This includes your time, talent, and resources.

Reordering your priorities is essential for success.

Trading can be one of the best side businesses, but it requires dedication.

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Many focus solely on the results of thousands of trades executed by experienced traders who have devoted their lives to mastering the game.

Expecting similar returns without making the same level of commitment is unrealistic.

Not everyone is suited for trading; it exposes you to intense competition against some of the brightest minds.

Success in trading demands significant preparation and effort.

Trading is a player-versus-player game where the other participants may desire your money more than you desire theirs.

You are entirely responsible for your trading outcomes.

While you can’t control market movements or stock behavior, you can control your responses.

You alone make the decisions and execute the trades, so it's crucial to maintain a clear mind, free from distractions.

Truthfully, almost no one cares if you trade or not.

Your hard work and desire for success are your own.

Friends and family might even discourage you from trading or investing. The path to becoming a trader can be lonely, as those close to you may not share your journey.

Fortunately, today's traders have access to numerous resources and tools to mitigate this isolation.

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For me, the MFG Discord & Family has provided a sense of community and support.

Based on feedback, it has become a valuable source of fellowship and encouragement for others as well.

Get in flow. Study kid, keep your head up, and stay the course. - GP

Looking for a group of likeminded people to trade with? Text alerts and the MFGDiscord. Text GP 1-936-661-7786 or email GP fullauto11@gmail.com to join.