Trader Evolution: From Baby to Boss
This episode has been on my mind to record for you all recently. And it’s entire purpose is to normalize the crazy journey that becoming a successful, profitable day trader is! It truly is madness at times and one of the very hardest paths I have ever endevoured. But, here I am, more than 4 years later and still pushing forward. Why? Goodness, is that a loaded question. But honestly, it is the love of the game and the potential for mastery. People master trading. And themselves in the process. And then sick profits follow. It is in that pursuit that I cannot back down. And so, this conversation is all about that. The pursuit of greatness in trading and how it evolves over time. Or at least for me, in my first 4 years at it! For the full conversation, I highly encourage you to play the above episode. And then message me! I’d love to hear more about your evolution!
In the beginning of a trader’s journey, it is heavily marked by early giant swings, both high and low! In learning, emotions, and P/L honestly. You are learning so much and at times it is so exciting, but other times quite overwhelming. The first big wins are intoxicating and the first big loss is gut-wrenching, heart-breaking, and scary. This period is volatile for sure!
Fear and greed are at a peak in the early months to year. At least, they were for me. For the same reasons - the magnitude of the experiences of it all. And my first real exposure to these financial outcomes for literally hitting buttons on my home computer - that was a startling realization coupled with both fear and greed for sure.
Every trading method and technical analysis technique is shiny and amazing. So many bits of information seem like they are the key to it all. And every trading mentor seems super human for a minute. It so easy to see the potential and success from everyone else in the trading industry mainstream. And that can, sadly, seem to highlight your own shortcomings and failures early in your education.
This can be a dark period for an early trader. Once you get deeper into the world and are trading every day, Monday through Friday. But are still paying market tuition with losses and not profitable with any sort of reliability. There’s the potential to then pullback from reality because instead of “normal life,” you are studying, hunting for the breakthrough, researching & back-testing, brooding over losses… This can truly be a very lonely time. During this time, you may find that previous friends relate less to what you are doing and relationships change or fade as a result of your shifting.
Balance while working through all of this can be so hard, and previous activities often take a backseat. There could also be a time where you question is trading an addiction or a real potential path to wealth? There can be a thin line for a bit - is it passion & dedication? Or a constant craving for the dopamine of the game and the risk, consequences be damned?
In every trader’s journey, he or she will encounter a lowest low. This is the point of holding or folding in this pursuit. Each person has to decide for themselves if they have the grit that is required to persevere through the losses and fear. And really dig in. Or if, perhaps, this is not the best fit for their lives and personality.
But for all the traders that decide to stick… Then the real growth takes the lead!
Balance and discipline across all aspects of the trader’s life starts to take priority in a new way. The period of decision arrives and commitment to the pleasure AND the pain has to happen. A decision that you are sticking, you know too much, you want it too badly…
After you decide, one thing that must grow and improve for all traders that continue forward is the pursuit of more PATIENCE. Awful trading days shift to lesson days in your education that are building your trader foundation. The negative connotation around a red trading session has to diminish and gratitude for the lessons of losses must start leading. And this requires so much patience and a true faith over fear mentality shift. Some things that help me are a strong workout or fun activity with family or friends that will pull me out of a red morning funk instead of toxicity that I may have engaged in early in my career.
Around this time, blissfully, you gain some hindsight over your trading career! You can see your own pivot points. Periods that seemed awful and traumatizing in the moment, ended up actually growing a stronger, more resilient you!
With time, there is less blaming of yourself, your system, a mentor, the weather... And more ownership establishes of your choices and subsequent outcomes. This shift from blame and frustration to responsibility and faith is what leads to strength and true confidence. This is really the start of such a beautiful next phase as a trader!
“When we calm down and embrace letting the journey to consistent profitability as a trader take time, it is so much more enjoyable and healthy.”
~ Becky Gaskell, Market Mamas
Once a trader really settles into learning and believing that they are truly on their way, patience improves. You realize that experience each day at the charts is growing you, like any career, building you in this profession. We wouldn’t expect a doctor, nurse, pilot, chef to be great on day one. There is college, mentorship, and then on the job training. As traders, we need these phases of development too! And for the amount of money we intent to make as traders, it makes sense that it will need to take time.
To shift into the land of profitability, every trader will come to the realization that profits come from a higher focus of process over so much else. Embracing the process and journey and making it your own, with how you are learning to read and dance with Miss Market, this is where you can start to step into your own as a trader! Every trader sees the market slightly differently based on so many factors, such as their personal background, childhood, early trading mentors, predominant mindset, underlying fears, etc. etc. And that variety among humans is amazing. So, your process too should be in alignment with you, not in opposition to your core beliefs because someone told you their way was the only way to win. Sorry not sorry, but fuck that. I say learn so much early on. But then, make your trading process work with YOU! There are hundreds of way to trade successfully. The one that will work for you? It’s the one that you can most easily see in a live market, accept the risk on, and understand so thoroughly.
Another major factor to breaking through into profitability, in my experience, is evolving your psychology in a big way. Miss Market doesn’t just test your strategy. She reflects your identity. And this is to say that you have to dig deep and ensure that you do what you need to do to feel Worthiness. You need to know that you are WORTHY to be that successful, profitable trader that you are hunting to be. Because without some personal belief, the self doubt can be suffocating and will absolutely impact your trade executions in a major way. Two great Market Mamas episodes on just these topics that you need to check out if you haven’t yet are: https://youtu.be/J1Rg1vmFGp8?si=p04kkjqA4-3R5Tvo and https://youtu.be/J1Rg1vmFGp8?si=p04kkjqA4-3R5Tvo.
Once you get deeper into your trading career, during the pressure of live trades with leverage, who you are at your core is revealed. It is inevitable and will be a factor. Not many other professions test this to the degree that trading does. We can fake it to an extent and lean on peers in like every other profession while you are learning on the job and gaining experience. It is expected that their is a learning curve to get really good at something.
So, what about trading? Well, in this digital age, there is a whole lot of flashy content out there that advertises a lot of bullshit. Making it all look easy and obvious. But, my friend, it is not consistently easy or obvious. For quite some time, honestly. But, you will learn and improve if you just don’t quit!
And when you don’t quit and start winning… That success is seductive! The period of losing causes us to crave education, we are humbled often, curious, and building our process still through the lessons. But success? That can breed over-confidence subtly. This can manifest in ways such as: holding trades too long because you’ll be right if you just give her time, tuning out feedback because you already know what you need to know because you’re on a hot streak, short-cutting analysis and rules because you’ve got this...
Insert the very real risk of abandoning what got you to your success thus far. “I’ve made it!” I urge you - be careful here. Overconfidence can be a killer and the resets after earning some real money, they are also painful teachers. I know, because I have worked through them on more than one occasion.
It helps me to remember to always respect my process. How I approach my trading morning and my overall trading business. I need rest, patience, time to focus pre-market, discipline throughout my day, etc. to be at my best when it is time to execute. And this has grown and been fine-tuned over the years in the ways that most speak to me! So, lean into your process!
One mentality that I love? I’m not playing to win, I’m playing to grow, to evolve, the level up myself and the profits and consistency will follow that growth when I continually show up with that energy and intent. It’s a journey. And there is no finish line. No big win that means I’ve made it. But continued actualization and development. An awareness that brings clarity to every action and decision along the way. And I wouldn’t have it any other way. What about you? How has your trading journey evolved? I’d love to hear! https://www.market-mamas.com/contact
Thank you to everyone who is subscribing to the podcast, reading the blogs, and providing me with feedback! I am truly grateful to be growing this Market Mamas podcast and community with you all! I love talking about my favorite subject - trading! Miss Market is abundant for those of us that embrace a growth mindset and pursue deliberate practice in learning her tells and our own tendencies. And trading absolutely can be an avenue for the wildest success. But not without diligent work for many many months and years. But to those who show up for the effort and dedication, you are my people and I would love to get to know you better! Please take a moment to shoot me a comment on https://www.market-mamas.com/contact! Happy Trading & Let’s Go!