My trading mistakes and how I corrected them.

A megathread.

By Dan Holy.

Wanted to share with you the mistakes I made at the beginning and how I changed my ways.

This is as honest as I can be.

Enjoy :))

I opened my first account.

Excited. Hopeful. Wide eyed.

I craved greatness. I still do.

But I had no idea what I was doing.

At this point, with hindsight, I would class myself as a danger to myself financially.

And what's the word for that?

Oh yeah,

liability.

This was my starting outlook:

-Start with a small amount.
-Hit the big risk big reward trades.
-Grow account.
-Implement risk management when account passes 'x' dollars.

You see the problem?

This was wrong.

So very wrong.

I bought my first stock, I can't remember which.

I can remember my thoughts though as the stock dropped.

Indecision. Panic. Fear. Sell.

One led to the other.

I didn't know it at the time but this was something fundamental which, I feel, every trader needs to overcome.

Mind.

My account died eventually.

I took a break.

Came back.

Opened another one.

Small capital again.

But same plan.

It's painful to think about.

All in. Lose. Repeat.

Why?

I wanted the glory.
A break from the boredom.
A clean break from reality.

It's sad because this pattern was so destructive.

Destructive to my finances.

Destructive to my mindset.

I felt like a skilless gambler. A Vegas journeyman. A punter.

The markets chewed me up and spat me out.

Looking back now, my mindset was so wrong. So negative.

No faith.

Okay, one day I suddenly understood that if I was going to actually do anything with trading, I was gonna have to work hard.

Work really hard.

I don't know what the spark was. It could've been anything really.

A film. A poem. A book.

But I began to believe I could make it.

I've mentioned it a lot before but I read 'Think & Grow Rich' by Hill.

I read it about 5 times before I started becoming profitable.

There is a truth to his words.

The plan really works.

I think it worked because I needed something to believe in.

I made the right choice.

The book changed me profoundly. I went from negative to positive. My polarity reversed.

Maybe for the first time in my life my 1st thoughts about things were positive thoughts.

Along with Neville Goddard's work on manifestation, I was able to reset my mindset.

Reset my Truth.

It took me a while, I won't lie.

I think I truly engrained this mindset after 3 years of practice. This is not to say it can't be done quicker because I made a lot of retraces. I did a lot wrong.

I would describe the mindset as an Abundance Mindset.

Hill's chapters on vibrational energy and how we must attract the right thoughts to our minds were key.

We can place our minds in an optimal state.

A state that allows us to think.

Think clearly.

Because everything starts with a thought, our first thoughts MUST BE CREATIVE.

Upon this shift in thinking, I am able to:

-Produce a positive, creative first thought.
-Run off of calmness rather than stress.
-Live more healthily.
-Learn from the teachers I previously ignored (consciously or subconsciously)
-Embrace losses as vital lessons.
-Trade well.

See I am now a big believer in 'when the student is ready, the teacher will appear'.

The 'ready' student is your mind.

The 'teacher' will often be things you once ignored.

I believe my mindset shift led me to learn TA. I think it led me to being a profitable trader.

This is what I'm getting at.

MINDSET MUST COME FIRST.

Your mind must ready itself to learn.

Not just learn, but learn the right things well.

Very well.

Honestly guys, we are the product of our deepest thoughts. Science proves this.

You are player one.