Why the Trading Tortoise Always Wins the Race



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#549: Why the Trading Tortoise Always Wins the Race

In this video:

00:29 – We’re halfway through the year.

00:45 – Most people rush into trading too quickly.

01:30 – The Hare and the Tortoise.

02:36 – The rise of Prop firms and the pitfalls.

03:39 – Making mistakes.

04:10 – View my 17 minute Masterclass & book a call with us.

04:30 - Blueberry Markets as a Forex Broker.

04:47 – Comments, Like & Subscribe.

Today, I'm going to talk about why the trading tortoise always wins the race. The slow and steady approach is the way that you are going to become a profitable long term forex trader. Let's get into that more right now.

Hey there traders is Andrew Mitchem here at the Forex Trading Coach for video and podcast number 549.

We’re halfway through the year.

Middle of winter here in New Zealand in June and we're already halfway through the year. But on a cracking day like this, I had to get outside to make the video today. One the enjoyments of trading and working from home. So in terms of trading.

Most people rush into trading too quickly.

Obviously everybody wants to be profitable. When people get into trading, they generally want to get into it pretty quick. Bit of a hiss and a roar.

I had an email just last night from someone that said, Hey Andrew, I'm ready to give up on trading. We can go in for three months and it's just not working. I'm going to close my account. And I wrote back to him and said, Look, my your absolute brand new, complete novice beginner, three months, you know, nothing at three months. And so I explained to him that, you know, if you're going to take this trading business seriously, you can't be like all up and down like that.

You can't be hot and cold like that. It's, you know, and that's where it comes back to the title said about, you know, the tortoise wins the race.

The Hare and the Tortoise.   

You remember the story about the hare and the tortoise probably learned it as a kid. You know how you know, everybody wants to be the hare. They all want to run off and get done really quick.

No effort, you know, no background work and trading's exactly the same. And I say all the time, this guy last night was a classic example. Absolutely classic example. You know, three months. I know it all and it's not working and it's the market's fault. No, it's your fault. And the reality is that, you know, you do need to take that slow, steady tortoise approach, because if you're going to do this, like I've been doing this 20 years and it took me four years to get anywhere.

So I can promise I understand the frustrations of being a few months into it and it's not working, but also someone that's been around for probably longer than anyb...