3 Elements To Win In This Game...

Author

ND Capital
November 26, 2024

There are many ways to make money.

There's no "right" answer when it comes to generating income.

But there's always a formula.

A set of rules that you have to follow to succeed in this game.

Trading is no different.

To be the top 1% in this game, you typically need these 3 elements:

01 An Understanding of the Market

You can't win if you don't know the rules of the game.

The only way you'll move fast and stay ahead of the herd is to stay educated.

Knowing the patterns that occur in the markets through different seasons and conditions.

That's how you tell between a newbie and a veteran.

The main difference between them?

A veteran has instinct or six sense.

Making trading and investing almost too easy at times.

But only as a result of years understanding the ins and outs of the markets they're in.

02 Enough Skills To Take Action

Having in-depth knowledge about your market is important, but knowing how to apply it is arguably more important.

Having the technical knowledge to turn your ideas into cash.

You can realistically achieve this 2 ways:

1. You learn all the technicals yourself, spending 100s of hours in the trenches.

2. Have an expert in the field show you how it's done.

Do you want to spend 100s of hours going through every concept you find without knowing the success rate?

Or would you prefer to faster option of having experts tell you what you need to know.

Both have pros but the question is are you willing to bear the cost?

03 Others Just Like You

Trading is a solo player game.

Withdraw and deposit funds yourself.

You have to execute trades yourself.

And take profits yourself.

All the essential aspects of trading can be done alone.

But it doesn't have to be.

Yes. Essential aspects can be done alone.

But by having other traders like you who are driven and in tuned with the markets.

It just makes you job much easier.

Instead of spending hours research narratives and planning out trades.

You could have a group of people who all look at different angles of the markets.

Saving your 100s of hours.

Now, instead of you doing everything alone, you'll have a team of traders who helped fact-checked the information.

All that's left is to execute the trades and play accordingly.

"Success means different things for different people but the formula stays the same."

The 3 things above are what I used when thinking through trading or any venture I am involved in.

I ask myself:

"Do I have a deep / decent understanding of the market I am in?"

"Do I have the ability to apply this understanding to generate value / make money?"

"Do I have or know any network of like minded people that can help fast-track my progress?"

Sure you can succeed with 1 or 2, but having all 3 is where the magic happens.

Making money and actually keeping your profits at the end of it.