I’m sure you’ve heard the statistic everyone throws around: 90% of traders fail.
It’s not wrong. But let’s put it into perspective, because I don’t know of anything else where you control your destiny as much as in trading.
Why Tim Sykes Sat Up Straight When He Saw Executive Order 14415
Table of Contents
The Big Picture
When I look at that statistic, I get excited.
Why?
Because all it takes is hard work and discipline. Anyone can work hard and develop discipline.
Most people don’t. Most people are complete basket cases. So, because of that, most people fail at trading.
That doesn’t have to be you.
With Trading, You Control Your Destiny
Now, you can do other things.
For example…
You could work a day job. There’s nothing wrong with that.
You can work your butt off. Maybe you get the promotion, maybe you don’t. Maybe you’re the best employee ever, but the company loses some big contract and you get laid off.
You could also try entrepreneurship.
I’ve been an entrepreneur my entire life. I’m still an entrepreneur. But the thing with starting a business is, some things are out of your control.
For example, what if you open a burger joint and Five Guys moves in next door?
You can’t control that.
What if some regulation changes? What if you have the best product and everyone loves it, but the government outlaws it?
You could fight it by going to your congressman. But, at the end of the day, sometimes with a business there’s just bad luck.
With trading, you are in control of your destiny.
I don’t know anything else where you are more in control.
And that is why…
I Love Being a Trading Mentor
I’m here to help. I’m here every day and I’m happy to do it because it’s my passion.
Now, that said, sometimes I swear people want to lose money. But if you look at some of the things that people do, it’s the only rational explanation.
Here’s my favorite stock market quote, at least from a mentoring perspective:
“Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.” – Ed Saykota
So, don’t get discouraged by the fact that 90% fail. To me, it’s the opposite. Get excited, get encouraged, and take action.
My Take
I believe anyone can change their life. You can get your life in order through a daily routine, okay? Just look around you. You’ll see the difference between those with a good daily routine and those who make bad life choices.
Now, this isn’t about putting anyone else down … It’s about lifting yourself up.
Do you want to change your life? Get up early, work out, read, pray, or meditate (whatever works for you), and do a gratitude practice.
The important thing is to take action, okay? And keep learning to trade, because no matter how difficult it seems, no matter how much the struggle, all it takes is hard work and discipline.
Watchlist
On Friday (Sept. 25), I used Apimeds Pharmaceuticals US, Inc. (AMEX: APUS) as an example of why STT Breaking News is my go-to source for fast news. I also mentioned you should keep watching.
This is why…
APUS 9/24-25/26, 5-min candles, setting up for day-3 surge
On Friday (highlighted), APUS crossed back above the pivot point and put in a near-textbook cup-and-handle into the open.
If it continued consolidating above the gold pivot, watch for a day-3 surge today. That said, it was looking squeezy on Friday. If it already went, live and learn.
On My Radar
- Know the numbers: September Non-Farm Payrolls coming Friday
- My colleague Ben Sturgill’s free 2-day bootcamp starts tomorrow (highly recommended)
- Microsoft is upping its AI agent game
- How most people approach trading and life: this guy reversed a monster excavator down my quarter mile drive (seriously)…
© T. Bohen “trading on hard mode”