≈ You must be so smart! ≈
Pearl Li here.
Yes. I get this a lot, especially when I tell people I trade and invest for a living.
Their first reaction often falls along the lines of, “You must be smart.” I tried to explain that, “I just did this for a while and under the right education became consistent enough to make a living.” and then, a silence ensues a bit ending with the conclusion of, “No, I think you are very smart.”
As much as I love a good compliment and will often just accept it out of social politeness, it’s hardly the whole story. It’s not that I think being smart is not a good trait but I must admit it’s just not a critical factor of your overall success.
I know, we seem to value being smart above everything else these days, but I can attest to the fact that being smart has often sabotaged my own success in trading.
Read the full story “The Myth of Being a Trader (Part 1): You must be so smart!” HERE.
Chart of the Day
Trader’s Success Factors
“Overall, in my development, where do I see being smart fit? What are the key characteristics of a successful trader?”
Read the full story HERE.
Video of the day
How to Scale Out a Position after it hits the target
Coaches Matt and Tim talk about how to scale out of a position when it hits your first target.
Today’s line up
How to Add $500 to Your Trading Account
I was listening to a podcast the other day when the host mentioned an easy way to nab $500 with little effort. If you read through this entire article I’ll share how you can double it to $1k.
Traders Lounge 11PM EST
Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.
Cash Flow Club Replay
If you missed last night’s episode where Coach Tyler Craig talked about Relative Strength or would like to watch it again, check it out here.
Halftime Report 12:30PM EST
The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.
The Market Recap is designed to give you a quick overview of the day that was. While brief, this report is designed to cover all of the major events that drove the markets that day and help you plan for the trading day ahead.