PJ Garcia

Mohand, welcome to BBT. Feel free to reach out if you need any help.

A Day Traders Mindset & Attitude...

Mindset and attitude are crucially important to your success as a trader as with anything else in life. Mindset to put it brief is your set of core beliefs and these core beliefs will have a direct impact on your actions and habits. Your attitude must reflect that you may have to fail your way to the top. You must be resilient and willing to get back up after being knocked down. The market has its own way of teaching you respect. Accept the fact you’re going to get your teeth kicked in from time to time. Its best that you take all the punches in the beginning, so you learn to bob and weave early on. It takes tough character, courage, and confidence to stay in the markets. Becoming a good trader means working on yourself as a person in whole. Any underlying psychological issues you have will show in your trading. Knowing when not to trade is vitally important. As for myself personally, I have found a direct correlation between my external stressors affecting my trading performance. If you’re anything like me, you may be looking for a dopamine boost within a trade when under allot of external stress. This means subconsciously hunting for homeruns and then revenge trading when I strike out. Truly a recipe for disaster. Being self-aware and disciplined leads to true mastery.

 Don’t ever underestimate the capabilities of not only yourself, but also of the human mind. You are capable of much more than you can imagine and only struggles, falling and getting back up will prove this to be true. One of the reasons I fell in love with trading securities is because of the personal development aspect.

Do Not Underestimate Yourself...

To briefly illustrate to you the gift our Creator has bestowed upon us and the capabilities you possess, I’d like to draw your attention to modern cars. Today’s modern cars such as Tesla have multiple computer systems. Through system updates and sensors along with artificial intelligence, these cars are continuously receiving feedback, processing this information, and developing new parameters that allow for improved response, performance, output, and even self-driving. I want you to really reflect on how amazing and complex that is. The human body and consciousness is very similar and at the same time vastly more complex and capable of so much more. Neurological sciences have shown us that our nervous system is made up of billions of neurons, message pathways, and groups of neurons that form function modules. Neurons are your body’s own super computers that send messages as well as receive messages through neural pathways that allow our state of consciousness and abilities to constantly evolve. By educating yourself on neuroplasticity as well as different psychological and biological “hacks”, you can direct or steer your evolutionary process resulting in new skills and abilities that you may have thought was never possible. This is without doubt easier said than done. Not because it’s difficult, but because for many individuals, it’s because they have allowed themselves to evolve into comfortable, lazy, unproductive, and unmotivated people by seeking dopamine responses through outcome instead of process. We live in a “push-button” society that has destroyed allot of the morals and values that brought mankind to the advances and accomplishments of today. Many do not realize that we as a society are becoming more stupid by the second. Think about that when the liberal woke left attempts to push their ridiculous agendas on you. The type of agendas that only push us more into the realm of stupidity. We are now handicapped by all the technology around us. All we do is seek ease and comfort when you can only grow through challenge, pain, and hard work. There were many habits and routines our ancestors committed to that allowed us to advance in knowledge and wisdom. Things like meditation, diet, working hard for what you have, and the list goes on. Sadly, within the last 75 years or so, we have been back peddling. How many phone numbers do your have memorized? How long can you go without your phone or internet? How much TV do you watch? How much time do you spend outside? How much sunlight do you get? There are some individuals who still keep healthy habits, but when you look around, you will see it’s not many, or at least it’s not the majority. You can change that right now. It’s hard work in the beginning but you can create the new you, or for some, you can break away from the ill effects of the current times we live in and begin the process of re-structuring your brain through neuroplasticity and the likes.

Day Trading......Gambling or is it a business???

Let’s go over a scenario. Imagine you open a clothing store. You go to a supplier who has a few boxes of clothes. You buy those boxes without opening them to inspect what style clothes they are or what they are even worth. You didn’t bother planning your business such as looking up demographics, prime location, or anything. You throw all your inventory on hangers and hope they sell. Your store is right in the middle of nowhere and you paid more for the clothes than what they are even worth. You open your doors and just hope to make profit. Sad to say, but many individuals treat day trading this way. This is gambling.

I’ll tell you what’s not gambling. Before opening the clothing store, you do your due diligence. You research demographics, pick a prime location and you research suppliers who will give you quality clothes at a very low price enabling you to potentially make a good profit. You open your doors after careful preparation with having positioned yourself at good odds of turning a profit. There will be a few items in your store that aren’t profitable but because of the research and preparation, the other items make up for those losses. This is how successful traders treat day trading. This is not gambling, this is business.

Treat day trading like a business!