I reached out to 12 of my favorite traders and asked them:
What is the one thing you would change about your approach to trading when you first started out?
Here are their answers ๐งต๐
1. Brian Shannon, CMT
"I really wouldn't change much. There are things I wish I knew but I tend to learn best the hard way and all my greatest lessons are from taking losses and market experience."
There isn't a roadmap to life, but there are things you should do to ensure a smooth transition into your fourth decade.
10 actions I would encourage my 20-year-old self to do by my 30th birthday
Time for a thread ๐งต๐
1. Open up a 401K or IRA ๐ฐ
Thinking about retirement in your 20's seems like a waste of time.
We've all seen the graphs of investing in a retirement account at 25 verse 30 or 35.
The difference can be hundreds of thousands of dollars. Maybe even millions.
2. Work on your credit score ๐ณ
I made the mistake early in my 20's, I stopped paying the balance on my Discover card. BIG mistake. This blemish on my credit score haunted me for years.
Find out what your credit score is and work on ways to build up your credit.
There are many lessons I have learned over the years building businesses and my personal monopoly.
Here are the top 10 lessons that have transformed my life and willl do the same for you.
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1. Don't Settle For Second Best
I keep high standards for everything I do. It might be a more expensive path, but ultimately, I don't short-change myself.
2. Knowing Where To Invest Your Time
I find it best to spend the time doing the things I love and on what I am passionate about. Looking back, the goals I failed at were not from a lack of trying but from a lack of passion.