Not just some, but all successful traders are self sufficient traders. The need of self-sufficiency in this business is the great differentiator.
How do you become great at something?
You find those that are where you want to be and emulate what they do. You essentially learn from them.
What their work habits are, what their study habits are, what their personal habits are, their mindset.
You need to get your mind to a place of focus and persevere through the obstacles that you’ll inevitably face on the road to success.
Most importantly, you must be open to learn and be willing to put in the work to become great.
That being said, once you’ve studied those that are where you want to be, it is then time to do it yourself.
You take what you’ve learned, what you’ve seen and you make it yours.
You must spread your wings.
This is especially true for new traders. It’s crucial to have a foundation of the markets and how they actually operate. Just learning a set-up that someone uses is far from enough to become a successful trader. Just blindly following someone’s trade idea is far from enough.
Those that build these ideas have done research and have their reasoning behind their decisions. They have their own trade plan of where to get into the trade, where to exit the trade and when to cut a loss if they occur.
But more importantly, they know the WHY behind their trade idea. Without knowing the why, how could you truly know what you’re trading.
Following someone’s trade idea is a good start to building your own thesis about putting on trades, but it certainly shouldn’t be the only part of your trading decisions.
Following someone blindly will only frustrate you and inevitably lead you down a path of confusion.
If you want something you’ve never had, do something you’ve never done.
Put in the work.
Great traders are self-sufficient.
