Casey Stubbs is a 9 ½ year United States Army Veteran and married father of nine. He is an entrepreneur, a leader in his local church, and is a successful business owner and trader. Casey is dedicated to helping people from all walks of life fulfill their financial dreams, while also achieving financial freedom. Helping others is at the heart of all that drives Casey on a daily basis. In this episode of How To Trade It, Casey shares his thoughts on developing patience when trading. You don’t want to miss it! @CaseyStubbs knows that why you do what you do is critical to your success. When he was younger, he thought he was just trading to make money. Boy was he wrong! Tune in to this episode of How To Trade It to learn more! #motivation #patience… Click To Tweet
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You’ll want to hear this episode if you are interested in…
- [00:47] What’s your motivation
- [03:24] Gamblers
- [05:06] Getting rich quick
- [07:00] Taking risks
- [09:58] Being successful
- [15:06] Discovering what kind of trader you are
- [16:14] Perseverance!
- [18:15} Losing to learn the lesson
- [26:35] Knowing your set up
What’s Your Motivation?
Understanding why you do what you do is critical to your success. When I was younger, I thought I was trading to make money. It all seemed pretty straight-forward to me. But, discovering the motivation behind my actions was a real game-changer for me. If you have never taken the time to figure out why you want to trade, I encourage you to do so. You can start by asking yourself some simple questions, like: WHY do I want to make money? WHY do I need a place to live? WHY do I want to spend less time working? WHY do I want to set my own schedule? By doing this you will keep going deeper and deeper and will discover your true motivation for trading.
There’s no question that waiting is hard. We all hate it. Patience, however, leads to greater fulfillment in life and a better return in the markets too. Unfortunately, one of the hindrances to patience is risk taking. For some, there is a thrill associated with putting a lot of money on the line…again and again. It can become an addiction, if left unchecked. When I was younger, I did all kinds of crazy stuff, even in my trading. I was absolutely addicted to the thrill of taking the big risk. In that state, patience doesn’t even exist. I wouldn’t follow my strategy, or wait for a good set up. I wasn’t patient enough to follow any kind of system. It was basically stupidity. I can now recognize this bad habit in other traders that I teach and coach. If we want to become successful traders, we must learn patience…to wait for the right set up, to learn the processes, to develop our system. Patience is the key!
My goal as a coach and mentor is to get people from beginner to successful, in as little time as possible. My team and I are working hard to solve that problem by helping others avoid the things that tripped us up in our early trading journeys. Persevering through difficult times will help you learn valuable lessons and will grow your patience. Honestly, some things can’t be learned unless you experience them for yourselves. When things get tough, a lot of people just give up. But, if you truly want to be successful, you must dig in and determine in your mind that quitting is not an option. You need to “burn the ships” and continue to move forward without ever looking back. You will either be successful or you will die trying.
Resources & People Mentioned
- Send questions, comments, and podcast ideas to: Business@TradingStrategyGuides.com
- Start with Why: How Great Leaders Inspire Everyone To Take Action by Simon Sinek
Connect With Casey Stubbs
- Website: https://caseystubbs.com
- YouTube: https://www.youtube.com/TradingStrategyGuides
- YouTube: https://www.youtube.com/caseystubbs
- Twitter: https://www.twitter.com/caseystubbs
- Facebook: https://www.facebook.com/TradingStrategyGuides
- LinkedIn: https://linkedin.com/in/caseystubbs
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Disclaimer: Trading carries a high level of risk, and may not be suitable for all investors. Before deciding to invest you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment. Therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.