So you want to be successful at trading cryptocurrency’s? Why exactly?
Answer these questions to uncover the answers that will keep you going in times of difficulty. (watch PART 1 if you are New to Crypto Trading and setting goals)
Is it because you want more money?
Is it because of the excitement of trading?
Is it because you hate your job?
Are you in debt that is overwhelming you?
Do you want to have the freedom to work from anywhere in the world?
Is there somebody you want to help with the money?
What is the reason that you want more financial success?
What exactly is it that you want?
Go and get a new hardcover notebook and a nice pen and physically write down what it is you want and why.
Knowing what you want is important but be very clear on why you want it.
Two people can read this book and start out on the same goal of being successful at trading, one person succeeds, while the other fails… why is that? They both have the same starting advantage – a methodical, proven approach to positioning and taking profits… why does one person succeed and the other person give up and quit?
Most often it’s because the person who succeeded had enough reasons to keep them going when trading was difficult. During difficult times and bad luck, the successful person reflects on why they want the success, they study their mistakes, and start again.
While the other person failed and gave up after their first few losses. Their reasons for striving toward success were not bigger than the pain of facing their mistakes, correcting course, and starting again.
Statistics say more than 80% of new traders in stocks, commodities and cryptocurrencies lose money and quit trading within the first few months. They did not get clear and ‘drill for skill’ on their strategies, and they were not in touch with their deepest motivations to help them through the period of learning the skill of trading.
Pleasure And Pain
Would you agree that we are motivated by two things in life, pleasure and pain?
Isn’t it true that some people are motivated to take action to get away from pain, while other people are motivated to take action to move towards pleasure? Which are you?
One is not better than the other. You can generate fantastic success with either motivation system – once you acknowledge which one moves you into action, you can put it to use for your own success.
One of the biggest pains in life is believing your dreams will never come true. When you write down why you want to be successful at trading and then study the strategies in this book, your motivation, and these proven tactics, should make your reasons big and strong enough to overcome the pain that you may feel while learning your skills in trading.
My First Experiences With Trading
My first experiences with trading were terrible! I lost all my money – twice! Both of my first two starting campaigns in trading were a miserable failure. Many others would have taken this as discouragement and given up, especially after studying so hard for several months before starting each time – and then having such poor results back to back!
But I kept applying and practicing the strategies that you will read about in this book. I never stopped reading the charts and watching the markets to build those pattern recognition skills… and in time I was able to enjoy my first $10,000 day in profits! If I had quit, if I had stopped practicing when I had no money, and if I was not willing to start trading again with less than $100 starting funds, I never would have seen my money grow by more than 50x in just a few years of Cryptocurrency trading!
My eventual success would never have happened without my belief in this methodical approach to the markets, without my clear purpose and my clear personal mission! I had plenty of reasons for achieving the success that I was seeking and I would repeat them to myself over and over again when success seemed out of my grasp!
The Fuel In YOUR Fire!
Your reasons for wanting to be successful at trading are the fuel in your fire! When you know deep in your gut – why you want this success – these reasons will keep your desire strong and your inner drive focussed when the markets are difficult to trade.
So go and get that notebook and a nice pen. Let’s call it your ‘Trading Plan Notebook’ and your ‘Money Pen’. I’ll ask you to write in your Trading Plan Notebook a few more times, so get a new booklet that you will keep.
Stop the video here, grab your MONEY PEN and PLAN BOOK, and go and write down 50 reasons why you must succeed as a crypto trader!
You may be thinking how could I find 50 reasons? I don’t have time to write down 50 reasons!
The truth is if you can’t find 50 or even 100 reasons to succeed, start with 5 reasons. And build from there. Take the time to draw these motivations to the surface of your thinking and repeat them into the core of your subconscious.
You CAN do it. And it is so worth it.
Successful At Trading Cryptocurrency
I believe in you. I believe in the small trader. I know the results that I have attained are within reach of anyone. If you can learn to drive a car, you can learn these skills.
Before we look at chart patterns, position sizing and risk control rules – give yourself fuel for your fire!
Go to a library or coffee shop and plan to spend a few hours writing down your reasons to succeed. This should be fun!
The first several reasons you write down may be superficial and obvious. That’s ok. Write them down… but after you get past the first 20, you’ll start to find some deep and personal reasons for succeeding.
You may reach back to dreams and hopes and goals that you thought you gave up on years ago. Write them down.
Get back in touch with your small dreams and your big dreams, bring your goals back to the front of your mind, and they will give you the emotional charge to get you back on track toward becoming the successful, financially free person you want and deserve to be.
If you want to achieve success with cryptocurrency trading, get crystal clear on exactly what you want and why. That is the foundation to your success – technical analysis is the easy part.
I really appreciate reading the comments below these videos. The comments help us shape the next videos in the series. So if you have a question, or something you want deeper explanation about, drop us a note down below.
Thanks again, Trade Safe, and Keep Those Losses Small.