A short YouTube monologue (by Kardec Trader) advising traders that success requires both mastering psychology and having a clear strategy. The speaker stresses self-conquest ("conquer yourself"), elevates psychology as essential ("110%"), and pairs it with disciplined downside protection (risk management) and months of consistent execution so P&L will improve.
So if you are in your trading journey, realize that it is going to be difficult. Very few people are going to make it. And I have to be able to not only conquer the markets, I have to be able to conquer myself. And I know you guys have heard psychology, psychology, psychology. It's a very big part of trading, 110%. And you need to understand that in order to be successful. There is a component where you have to conquer yourself, but you also have to have a strategy. They both work hand in hand. Conquer yourself, make sure you have a good defined strategy. Put those two things together with the element of protecting your downside, which is risk. Do it for months and months and months and months, consistently stay in and out. And once again, when you look behind you, you'll see how far you've come and you'll see how your P and L starts reflecting that.
