a mountain to climb
To climb mount Everest is a process of three steps forward and two steps back.
A sport like trading and just as counterintuitive.
After all, your mind does not want to go down the mountain. It wants to go up.
And yet, if you do not follow this discipline, you will never reach the top since the body needs to acclimatize to the altitude.
Even further, most of the risk is in the decent-again, not something you would focus on if you would climb intuitively.
Trading requires a similar approach of planning your routine with a detailed business plan and never letting your gut feeling take over.
There is no need to blow 20 times a 5k-funded account or lose a large account in one swift to hit rock bottom before structuring your approach principle-based.
Like mountaineering, trading exits are more important than entries, and risk control is everything.
Until 2008 death rate from climbing mount Everest was nearly 6%-and has since been reduced by more than a third.
You can do the same in trading by studying risk principles and accepting that it makes no sense to put money on the line until you do not have excellent results in paper trading.
All points towards psychology, and being honest with oneself is more challenging than it seems.
Formula 1, a sport where teams as large as two thousand people with hundreds of millions spent on just one season, much effort is given to team up two drivers for the same team.
Very young athletes have to, on the one hand, compete against their teammates to get extra competition, forcing them to the limit and simultaneously playing a team sport, acquiring by a point system maximum points for a season win.
Dichotomies like this are a daily challenge for traders to balance near opposites psychologically from the daily tasks requesting like analytical skills at the same time, rule-based behavior like execution that is diametrically opposed in their functionality.
Attempting this business without scrutinizing planning and a long-term approach to endure the challenges necessary to overcome is a guaranteed miss of success.