If You Want To Learn, Be Humble
"Throw out your conceited opinions, for it is impossible for a person to begin to learn what he thinks he already knows."
— Epictetus, Discourses
The title of today's meditation is so true in all walks of life and most definitely when it comes to trading!
If you want to learn to trade then TTM is a fantastic starting point! There are lots of videos to watch and strategies to try out and I would say try out one strategy that you feel suits you the best. Give it time and it's all about practice, practice and more practice, until you know the strategy inside out and you are totally comfortable with it. You need to understand the strategy fully and to know exactly what you will do, especially if a trade is going wrong! You need to be able to react immediately without hesitation, so you have to be comfortable with your exit plan too! Trading is a great feeling when things are going your way and your trades are going to plan, but you have to be aware that this won't be the case on every occasion and trades will go wrong from time to time and it's how you deal with those trades, that will make the difference between boom and bust and long term profitability.
If you become over confident and feel unbeatable and pretty much arrogant, thinking you know all there is to know, the market will kick your ass big time I promise you!
So stay humble and appreciate every profit however small it may be. Celebrate every controlled loss, meaning that you have been disciplined enough to protect your bank. You must not let your opinions get in the way of the rules/criteria that you need to follow to the letter, to verify a trade for your strategy.
It is a long and winding road to success, with plenty of ups and downs along the way, but with a patient and disciplined approach, success can be achieved!
Remember; here at TTM we are all trading the market, so make the most of the help and support that is available to you in the various channels.