Before we begin to get really technical with our strategy I want to hold things up and bit and ask a simple yet complex question.
What are the benefits of trading?
The majority of people who answer this question will say money, “it’s an easy way to sit at home and earn additional or full time income”.
Although this isn’t entirely impossible it is a common misconception of the trading game. Ok, the most experienced traders will be able to seamlessly enter and exit the market once they have refined their profession and developed their craft but this would have come after countless setbacks and points of development within their career.
If you ask me what is the real value of trading I would break it down into 2 key benefits, these are two that have had the largest impact on me as a trader.
It sounds pretty cliche right? But financial freedom genuinely can be achieved by mastering the skill of trading and investing.
I personally have witnessed this happen with people I am surrounded with. By understanding macro and micro economic factors alongside having the accuracy and psychology to execute you will find yourself scaling your accounts and portfolios to earn additional or full time income before you know it.
My second benefit is,
Overall self development – remaining patient and remaining organised.
Trading will develop you to become a more all rounded, level headed individual. The lessons you will learn within the markets can be applied to external factors found in everyday life.
Trading will make you a more patient person.
There can sometimes be a 2-3 day break between one trade and the next here at The Social Traders. We do not rush into a trade every single day the market is open. If we are not trading a setup that fits our plan the chances are we will be entering trades that are lower in quality within lower value areas. I can assure you, once you master the skill within the financial markets you will be able to directly apply this to everyday life.
Trading will make you organised
If you are unorganised in life then you will be unorganised within the markets. Trading is all about discipline, going back to the point I made earlier about waiting for 2-3 day for a particular setup – if you are unorganised this setup could present itself and you could miss it, or the setup might be in the process of being developed and due to your unorganised lifestyle and ill discipline you will execute early resulting in a -1% loss.
You will often find within trident that the majority of your losses will be the result of ill discipline and lack of patience. Once you master this you will begin to implement this into your everyday life.
I personally think these benefits will be far more noticeable in the interim than the financial gains that the trading space is often sold on. If you implement the processes you will learn within this strategy you will become far more rounded as an individual. Without realising these processes will allow you to accumulate income instinctively in everyday life.