6 Ways Day Trading is Like a Marathon
One of the most commonly used sayings in the MOJO Day Trading Room is “Day Trading is a marathon, not a sprint.”
This idea seems to be universally accepted, but MOJO wanted to break down this idea into 6 sections, to reiterate one of the most important ideas a day trader will ever hear.
1. Starting Line At the starting line, we are excited for how the journey will undoubtedly change us for the better and we’re excited to get there as fast as we can. Many traders in this position will be joining MOJO for their first FREE PASS and will be extremely excited and eager to get started once they realize the endless benefits of being a MOJO ProTrader. As those on the starting line are usually inexperienced, they often make the mistake of trying to get to the destination or finish line quickly, which can end up biting them in the butt and causing them to bust numerous accounts before learning their lesson, or burning out before the finish line!
Luckily, new traders don’t need to worry about going too fast at the starting line, as MOJO Day Trading and ProTraders have a system and daily routine that is crafted to allow new traders to still profit before completing MOJO University Day Trading Course.
2. Mile 6 Many marathon runners see Mile 6 as a huge accomplishment and are excited at their progress before realizing they still have 20 more miles to run!
Many day traders get to mile 6 and are also excited. Maybe they have had a few profitable weeks and they are beginning to feel good about themselves. This is where issues arise, as they are still very far from the finish line and still need the help of mentors to ensure they keep pace and stay focused on reaching the finish line.
Much of the future success of the runner or trader reaching Mile 6 will depend on their mindset. Will they view the road ahead as insurmountable or as a sign of progress distant from the start?
At MOJO Day Trading, the ProTraders know that reaching Mile 6 is a nice accomplishment, but there is much more road ahead and there stopping now!
3. Half Marathon Point The half marathon point is a perfect spot to stop and “check in” with yourself. Maybe you use the holiday season which we are currently enjoying as a “check in” time. This is a time where you should stop to think about your progress and reflect on what you have done and what you can improve upon.
At the Half Marathon point, many runners stop for a drink of water or a quick snack to replenish their dipping energy reserves.
As such, many day traders also take a few days off during the holidays to refresh, regroup and prepare for domination in 2016!
4. Mile 18 At Mile 18, the mental games start to creep up on you. You are making great progress, but you are not done yet. If you let your focus slip for one second, you could lose pace and miss hitting your goal. You have to stay focused and committed to your end goal. How bad do you really want it?
Mile 18 is also a time to reflect on how far you have come. In trading, when you reach Mile 18 you will have completed MOJO University Course and become a MOJO ProTrader. You are miles past the starting line, but have miles to go until the finish. It is a time to reflect on your experience and how they have shaped your new identity in unexpected ways.
5. Mile 22 Marathon runners refer to Mile 22 as “The Wall”. At the wall, the pain of all those miles under your feet presents itself and smacks you in the face. Everything hurts, you are tired and you just want to quit.
At mile 22, we challenge ourselves and see how strong our spirits are when we are at our weakest.
In relation to day trading, mile 22 is when you think you finally have your footing under you and can conquer the market. Everything is going great then you hit the wall. Maybe it is a bad day with some huge losing trades. Maybe it is a weak with little or no profit. The wall hits us all, sooner or later, what matters is how you will deal with it.
At MOJO Day Trading, we avoid the wall by trading a system based around positive expectancy. Every trade falls in line with the MOJO system, so big losing days just don’t happen around here.
When you hit the wall, always remember: Tough times don’t last, but tough people do.
6. The Last .2 Miles of the Race The finish line is in sight and a feeling of pride, accomplishment, exhaustion and adrenaline takes over.
For a marathon runner, the race is over and the goal is complete.
But, for a day trader, is the race ever over? When you hit the finish line as a day trader, it is just one goal you have hit. Every path to hitting a goal is a marathon in its own right. In the stock market, the race is never over and money never sleeps. You are simply starting another marathon as you chase another goal! There are traders in the MOJO Room that have not lost a single trading day in over a year, now that's a marathon! Come Join Us!!
Are you ready to start your day trading marathon? Well, MOJO Day Trading is in the giving spirit, as we continue our Holiday Open House again all next week. Claim your FREE INVITE here: CLICK HERE