Chat with Traders had an in-depth conversation with Shark. Shark is among the top traders in our market, not to mention our prop trading company. He has never conducted a one-on-one interview for the trading community prior to this one. It has been very enjoyable to watch him develop as a trader. We are extremely appreciative that we had the opportunity to work with him. He’s not simply a fantastic trader; he’s also a great guy.
Here are seven things you may take away from this chat with a trader who makes numerous eight-figure incomes.
When you first begin trading, avoid getting yourself into trouble.
This is cited by Shark as one of the secrets of his success. He knew he would struggle at first. In his deliberate efforts to grow steadily lucrative, he made sure that he lost relatively little. Before he started to become regularly profitable, he had not lost a lot of money. So, when he started producing money, he didn’t have a deep hole to climb out of.
Establish positive habits right away.
Shark believes that developing solid routines helped him start off consistently profitable. Shark prioritised process over performance.
Study other traders.
Shark attained consistency in his profits by learning setups from other traders at the company. He keeps tracking how other people are making money and tries out those trades.
Develop from success.
Shark begins experimenting with a novel small-scale strategy. He starts to ramp up his risk just after he is profitable with tiny size.
Shark thinks that too many traders lose money because they run out of profitable trades. Shark believes that traders must confront their demons. They must eliminate whatever is preventing them from claiming all of their advantageous trades. You must make the following good transaction if you make a good trade and lose money. According to Shark, if you are unable to do so, this is what you must get through in order to develop into a trader that regularly makes money.
A significant loss may mark the beginning of the end for your trading profession.
Shark suffered an unusual loss in KBIO. In comparison to another trade, he lost ten times as much. He took this as a chance to strengthen his fortitude. In a matter of months, he recovered this sizable deficit. This demonstrated to him that, as a trader, he could sustain a sizable loss while taking on considerably greater risks. This gave him the courage to make greater trades in the future. Disappointment can occasionally provide us with the chance to improve beyond our expectations.
Shark’s family was behind him.
He received the assistance he required from his family to develop into a continuously successful trader. Shark requested his family to support him for a year, and they obliged.
Shark concentrated on reducing his stress in order to improve as a trader.
Shark made a conscious effort to reduce his trading stress in order to advance in his trading career. Even though he was already a top player at the time, he advanced even further with this emphasis by trading less, choosing his moves more carefully, and drawing down proportionately less.
Shark is both fiercely competitive and modest.
Shark attributes his drive for success as a trader to his competitiveness. He adds that he is modest enough to acknowledge mistakes. Shark shares is a rare type of trader that is both fiercely competitive and modest. This mix, according to Shark, is largely responsible for Shark’s success.