Question: I want trading to replace my current income. When planning, do you plan to earn a certain amount daily, per trade, a percentage of your account, etc.?
I strongly advise against planning to earn a certain amount on a daily or even monthly amount if you want to be able to “eat what you kill” in the markets.
Episode 12 of the Trading Foundations course explores this more holistically, but you definitely don’t want to try to make a salary from trading…that’s a fool’s errand. To survive as a trader you need 3 things:
We strongly advise against planning to earn a certain amount on a daily or even monthly amount if you want to be able to "eat what you kill" in the markets.
Your focus should only be on getting a playbook of good trades together and executing ONLY those. No playing around. Measuring your progress. Not being distracted...because distractions are everywhere.
A lot of people declare "I wanna trade for a living" and they're thinking they are going to start tomorrow. Go ahead and start those new job applications, player. You are coming back. And soon.
Every. Time.
Good entries are close to God (cleanliness is close to godliness). Entering markets cleanly is sooooo underrated. Especially with all the momentum chasers. Chase trades and you’ll be doing Zoom interviews soon enough.
Risk management is part of the holy trinity of trading as well. This is also something retail traders don’t do well with because they’re usually too busy thinking about…money.
Pro traders know how to measure their progress (and regress) constantly. Retail Traders mess this up constantly…you can’t trade for a living until you understand how to objectively measure your performance overtime.
End of story.
But wait, there’s more…
Learning how to do this 👆🏾 is why Blaxe Academy exists! And my advice is simple:
- Develop Trading Skills – take these courses. ask questions. paper/demo trade. measure. REPEAT.
- Get Real Experience – I started trading in 2005, and have been trading for a living since 2015, and continuously hone my craft with every trade. Become a student of the market and note your observations and trading progress in your trading journal.
Our members are learning from the above points, and developing real experience with dedication and consistent practice, while sharing their learnings.
So you grow, they grow, we grow.
