Ebook 7 - Conclusions - Trade The Pool - Stock Trading Prop Firm (2024)

Well done! You are an investor!

The learning and improvement process that they have to go through. All the practice trades taken on a demo account, the emotional rollercoaster, the nights spent in front of a screen, instead of being on crazy nights out. As well as reading a book just like this to improve knowledge and awareness – are all a form of investment.

What you have just started is an investment in yourself…. and that’s the best investment you could ever make.

It is my experience and history in the financial markets that made me want to write this book; that same experience that brought me to consider most people under three different categories:

1. THE WINNERS – those who live the life they want – they feel their life is successful, have a great personal/professional balance and are generally happy and satisfied individuals. People (including traders) in this category also tend to be more likely to recognize other people’s worth and invest in them too.
2. THE MOANERS – Those who don’t live the life they want yet and are not willing to invest in themselves – people you can easily recognize in your everyday life. Not fully (or at all) satisfied with the life they are living and have created for themselves. They love to complain to whoever will listen but are not so eager to do anything at all to change and improve things.
3. THE CONTENDERS – this last group is formed by people who also do not live the life they want yet but are working towards the achievement of their goals and their self-improvement. I call them that because they are true contenders to “win the game” and live that life one day. They know what they want and are ready to do what it takes to get it. They are ever-enthusiastic don’t let distractions get in their way. Focus, hard work, determination and their “everything-is-possible attitude” are what set them apart from the crowd; you can recognize these people in your everyday life too.

The simple fact that you have read this book to this point, tells me you are most definitely NOT a moaner for that’s the only group who doesn’t invest in themselves.

Go on, give yourself a pat on the shoulder, and congratulate yourself!

Remember, no matter how bad you think you are, you can always improve yourself and no matter how good you think you are, you can always improve further.

Learn, learn, learn. Learn strategy and learn methods. Learn to manage your risk as well as your emotions. Learn to trust yourself before anything else. Learn to learn and learn to learn better.

Take an image of something that represents what you want in life, what you want to achieve or the lifestyle you want to have. This can be the image of a Ferrari, a mansion, a farm, a desk in a luxury office block or even the image of your family at home with you in it (for a change). Whatever it is, take that image, frame it and place it somewhere near your computer.

Use it as a reminder of what you are working for when you feel a little demoralized or near to giving up. Look at it and get your motivation back, remind yourself that’s only a matter of time, work and effort before you reach your goal and imagine what life would be like once you have achieved them.

The two forms of investment that people often find the hardest to make are investing their own time and investing their hard-earned money.

We live in a fast-moving society where everyone is constantly busy with thousands of things to do and it always seems like there aren’t enough hours in the day to do them all.

Choosing how and where we spend our time is not always easy but for the “Contenders” it is a no-brainer that part of it should be dedicated to planning and working for a better life and a better future. Again, look at the image you have placed on your desk and remind yourself why you are doing it.

While time is finite and limited, money is not. A week spent at home doing nothing is a week that nothing and nobody will ever give you back. On the other hand, you can always make back the money you invest in yourself and multiply them. Spending thousands of dollars on a university degree that will allow you to obtain a highly-paid job, for example, would be considered a good investment.

The saying goes “Successful people hang around with successful people”.

Whatever the saying, your peer group is important. If day trading is what you want to master then surround yourself with successful day traders and with other Contenders. If you cannot do it in the real world then do it online. Look out for day trading communities, forums, blogs, and videos. Compare your strategy and opinions. Share and gain new knowledge. In other words, be in it, not around it.

You cannot learn how to play baseball by just reading a manual or watching a few videos. You got to play the game to learn it and master it; the same goes for Day Trading.

Demo accounts are great to research and try out your strategy and you sure can learn a lot from that. However, it is impossible to learn to manage our emotions while trading “fake money”. The sense of risk would never be real and your action would be far less likely to be influenced by it or by a large losing trade, for example.

There is no substitute for time in the market. The real market, that is. You need to put your skills and your emotions to the test and spend as much time as possible with real risk and real interest.

This, historically, has always been hard for any beginner trader. Until not long ago, retail trading was virtually nonexistent and financial legislation required traders to have large portfolios to be allowed to enter the market.

Today, however, technology has allowed traders to trade the market with ease from anywhere and, although the required entry capital remains high, there are now a few ways around it.

Things are different now. The retail stock trading world is changing and we, at ‘Trade the Pool’ are leading that change.

If you already have a working strategy or are close to having one and if you are seriously committed to working and investing in yourself then I’d suggest you keep reading and find out if we can help with some trading funds (or better, if we can help each other).

In my experience and history in and around the financial markets, I have noticed how much talent and potential go to waste because of a simple lack of capital. Traders, I mean, with the right skills, the right knowledge and the right mindset but with not enough resources. I know some of them have ended up working for big banks and important hedge funds, but I also know that the majority have simply given up.

To be fair, every player in the market can see this happening but while most of them see it just as a shame and a fact of life, we saw it as an immense untapped potential!

We decided to “hunt down” undiscovered talent; the right Contenders with all the right strategies, skills, mindset and can-do attitude and share our huge pool of investment capital with them.

We thought it would offer skilled traders the opportunity to make ever larger profits by making available to them the capital they lack and, at the same time, diversify our own risk and increase our traders’ profit as well as ours.

We call this “TRADE THE POOL“.

We are the number 1 company in the world that funds traders for trading stocks. You can trade over 12,000 stocks and ETFs and even short any penny stock with over 100X buying power.

Our purpose is to help traders succeed and get funded. That’s why we partnered with the best trading tools and software in the industry, such as:

• TrendSpider
• Trade-Ideas
• Bookmap
• TraderSync

Once you join Trade The Pool, you get free access to our partners’ tools.

TTP is powered by The5ers, an esteemed company founded in 2016 and well-known in the prop trading industry.

Find out more about TradeThePool

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