Nick Schmidt Profile picture
Apr 4 12 tweets 2 min read
3 realizations that TRANSFORMED my trading performance (and ultimately my life):
1. The skills you need to excel as a trader go far beyond just mechanical skills.

The mindset of developing a trading strategy alone and reaping the rewards is old-school.
People quickly realize that trading is a skill that is not mastered overnight. It is a daily battle, and there are many days when you feel like giving up.
You need mental skills to succeed as a trader, and skill develops with practice.

You need to build your stamina, patience, and commitment. The best traders focus on building their skill sets while building mental toughness.
2. The Art of Trading is a skill like any other.

When you study martial arts, art, or music, you study to become a better version of YOURSELF.

You study to deepen your understanding of the subject and push your own limitations.

The same goes for trading.
You need mental skills to succeed as a trader.

You need to constantly check your emotions, keep calm and work through your plan.
Your mental skills enable you to experience FLOW.

This means you feel fully immersed in what you are doing and can see each moment unfolding for what it is.

This is true CLARITY and opens up the doors to super performance.
3. Learning to trade is not black & white.

Despite soaking up a technical strategy, it's really difficult to stay consistent and make money without investing in the mental strategy as well.
You may well be technically sound, but if you lack the mental skill, technical strategy is wasted.

At the end of the day, it's about developing the right mindset required to master your trading and start seeing results you are proud of.
In the beginning, I studied dozens of trading books and saw some success as I practiced the strategies in real-time.

It wasn't until I took the psychological side seriously and learned more about myself that the success compounded exponentially.
Work on your mental game.

When your technical and mental skills ALIGN — you will be unstoppable.
If you enjoyed this thread:

1. Re-read this thread and retweet the first tweet.

2. Check out the Trading Psychology Masterclass below, a proven high-performance mental framework.

3. Have an amazing Monday 💙

traderlion.com/trading-psycho…

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Nick Schmidt

Nick Schmidt Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @NickSchmidt_

Apr 3
Trading is an ART — not a science.

3 reasons why👇🏼🧵
1. The market is not black & white

New traders struggle so much because they are looking for an answer that doesn't exist.
The "black & white" perspective is a big mistake.

There is no one size fits all approach.

There is no Golden Rule.
Read 13 tweets
Apr 3
5 quick tips for new traders:

🧵👇🏼
1. The secret to winning is FOCUS

❌ The normal trader has too many distractions to ever truly master the craft.

✅ To trade successfully, you must be able to tune out everything, and only think about trading and the current moment.
2. Discover YOUR trading personality

❌ New traders waste years because they invest time learning a strategy that doesn't fit their personality.

✅ Successful traders understand who they really are as a trader, and what strategy suits them and their goals best.
Read 7 tweets
Apr 2
3 Things Trading Taught Me About Life:
1. RELENTLESS IMPROVEMENT

The same skills you work on for trading help you to become a better version of yourself.
Trading is an amazing form of self-improvement.

You make incremental improvements every day.
Read 15 tweets
Mar 29
I've had extensive discussions with some of the greatest traders in the world.

They all have these 5 characteristics:
1. Discipline

Discipline is the most important. Without it, you will not succeed. Without it, you will go a lifetime and never achieve your goals.
Discipline is knowing that the right thing is sometimes a tough decision.

And that means being optimistic that these tough decisions are worth it and will pay off.
Read 13 tweets
Mar 25
The 4 truths you are not accepting (that I guarantee are holding you back)

- thread -
1. You are not your thoughts

"There is nothing more important to true growth than realizing that you are not the voice of the mind, you are the one who hears it." – M. Singer

To stop letting them control you, watch for emotions they trigger and become aware of these patterns.
2. Most of your thoughts are useless

We spend our lives overthinking about the future and overanalyzing the past.

“We suffer more often in imagination than in reality.” - Seneca

Most of the things that we worry about never actually end up happening.
Read 9 tweets
Mar 23
If you're in your 20's read this (before it's too late):
Over the last 4 years, I've asked thousands of people the same question

"What is the best advice you would give to yourself in your 20's?"

Here are the top 25 answers I heard:
1. Don't wait to do what you want.

(But keep planning for your financial future and maximize the power of compounding)
Read 28 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(