Kachi Seth

They lose 1 trade, they get angry and give up.

Stop.

Everyone loses.

No one wins every time.

Start thinking in probabilities.

Most traders are killed by losses.

They lose 1 trade, they risk more.

They lose 1 trade, they go all-in.

They lose 1 trade, they get depressed.

They lose 1 trade, they change system.

If you're not successful yet:

Focus on 1 trading system.

Changing system every few losses is the fastest way to trading failure.

Don't be afraid to lose.

35% win ratio + 1:3 RRR or 45% win ratio + 1:2 RRR is enough to be golden.

Fear of losing is worse than losing.

Trading is the most individual business.

- Backtesting = Confidence
- Repetition = Discipline
- Meditation = Patience
- Believing in yourself = Persistency

It all depends on you.

Hold onto positions backed by data.

Let go of positions backed by hope.

Taking a loss instead of breaking your trading rules is a sign of maturity.

Trade. Win/lose. Repeat.

Trading goals,

If you're not a successful trader:

Plan.

Backtest.

Study price action.

Improve your system.

Meditate.

Believe in yourself.

Successful trading is the reward of your daily actions.

Analyse the market.

Execute on an edge.

Think in probabilities.

Regulate your emotions.

Accept any outcome presented.

Repeat 100x.

That's how you win.

When you're going through a period of underperformance, the first drawdown you need to recover from is the one you're experiencing mentally.

Once you get back to emotional equilibrium, making money becomes far easier.

Trading is hard because you need to develop a deep understanding of 3 things:
- Your strategy
- The markets
- Yourself

Everyone focuses on first.
Few focus on the second.
Most neglect the third.

Trading is hard because you need to develop a deep understanding of 3 things:
- Your strategy
- The markets
- Yourself

Everyone focuses on first.
Few focus on the second.
Most neglect the third.

After 4-5 years...

Trading becomes automatic.

1) Spot a trade
2) Trade
3) Win/Lose
4) Repeat

You don't care about 1 loss.

You don't care about 1 win.

You care about monthly goals.

Weekly goals.

Yearly goals.

Every day...

6-7 hours of patience.

10-20 min of fearless execution.

Wait for your trades.

Wait for your setups.

Execute like a sniper.

Successful trading is:

- 1% execution
- 99% patience

Don't be scared.

- What is my reward per trade?
- What is my monthly goal?
- What is my quarterly goal?
- What is my yearly goal?
- What are my mistakes?
- Why do I make mistakes?
- How can I correct mistakes?
...

Control what you can control.

Forget anything else.

Win.

If you want to be a successful trader,

Ask yourself:

- What are my entry rules?
- What are my exit rules?
- What are my best pairs/markets?
- What are my best days to trade?
- What are my best hours to trade?
- What is my risk per trade?

Stop trading 50 setups.

Start focusing on 1 single setup.

You don't need to catch every market movement.

1 setup in enough to win big.

Stop forcing trades.

Trading is:

- 90% patience
- 10% execution

If you can't wait for your trades, you will never be a successful trader.

You become very dangerous when you learn how to trade fearlessly.

Confidence makes you unstoppable.

Invest 3-5 years in:

- Building a powerful system
- Developing valuable trading skills
- Controlling your daily emotions
- Compounding money like nothing else in the world

After 3-5 years these trading downsides will disappear.

Don't give up.

3) Long time to overcome the learning curve

- Lose money for 2-3 years
- Lose motivation after 2-3 years
- Self-doubt after 4-5 years

If you can endure these, nothing can stop your success.

Trading's downsides:

1) Loneliness
2) Emotional pain
3) Long time to overcome the learning curve

1) Loneliness

- No support
- Everyone call you crazy
- No one understands you

2) Emotional pain

- Fear blocks your actions
- Greed steals your money
- Failure makes you give up

The hard part of trading isn't finding a good setup.

It's staying calm while you are executing the good setup.

90% of your fear of losing can be destroyed just by reducing your risk.

People don't realize how much mental strength it takes to become a successful trader.

Control greed when you're winning.

Control fear when you're losing.

If you can do that, you can do anything.

If you're not successful yet,

Stop reading and start trading.

1) Study
2) Practice
3) Make plans
4) Review your trades
5) Plan your next trades
6) Invest in yourself

Weekends are the best way to improve your trading.

Trading success is not cheap.

A trader who can stay calm after a loss is a confident trader.

Stop focusing on 1 trade. Start focusing on 1000 trades.

In trading,

Patience is power.

Trading superpowers:

- Staying calm
- Managing risk
- Thinking long term
- Mastering emotions
- Overcoming failures
- Executing your edge
- Thinking in probabilities