The Reality of Trading Expectations

This conversation delves into the expectations surrounding trading, particularly for new traders. It explores the psychological aspects of trading, the importance of discipline and routine, and the challenges faced when transitioning from sim trading to live trading. The discussion emphasizes the need for community support, effective risk management, and the long-term journey of a trader, highlighting the balance between skill and consistency. Ultimately, it underscores the significance of setting realistic expectations and the continuous process of self-improvement in the trading world. takeaways Expectations in trading are often unrealistic, leading to disappointment. 70% of new traders quit within the first year due to high expectations. Discipline and routine are crucial for successful trading. Sim trading can create a false sense of confidence and lead to poor habits. Community support is essential for traders to thrive and learn. Managing risk is vital for long-term success in trading. Self-improvement and adaptation are key components of a trader's journey. The balance between skill and consistency is important for success. Traders must learn to accept losses as part of the process. Setting realistic expectations is critical for a sustainable trading career. Sound Bites "Community support is crucial for traders." "Sim trading can create false confidence." "Discipline is key to successful trading." Chapters 00:00  Understanding Trading Expectations 03:20. The Reality of Day Trading 06:39. The Importance of Commitment and Focus 09:26. The Learning Curve in Trading 12:26. Managing Risk and Market Conditions 15:29. The Role of Simulated Trading 18:39. The Transition from Sim to Live Trading 21:32. The Impact of Prop Firms on Trading Expectations 24:25. Discipline and Routine in Trading 27:44. The Psychological Aspects of Trading 30:29. The Journey of a Trader Checkout the ELITE All Access Subscription (Courses + Rooms) Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here Leave me a message or your question on Speakpipe here Connect with our community online: Trade Pro Academy Catch up with our earlier episodes: Mind Over Markets Podcast Join our FREE trading room here Follow me on Instagram here and on Twitter here