One of the most popular sayings in the MOJO Day Trading Room is “Day Trading is a marathon, not a sprint.”
This saying is so popular, because it indicates that day trading is a constant and never ending grind. Day in and day out, you have both the chance to win and lose a lot of money.
Are you the type to sprint to the front of the pack, only to fade away, or are you the type to go slow and steady, constantly making steps in the right direction?
Think about it, the question is important and will hold the answer to whether you will have long term success in a day trading CAREER!!
Do you want to know one of the best ways to ensure that you will be successful long term as a trader??????
It’s simple: COMPOUNDING RETURNS
There are NO SCORES - NO HOME RUNS in day trading there are only SINGLES & DOUBLES with an occasional TRIPLE.
Now as the new year, 2016, is rapidly approaching, it is more important than ever to think about this idea.
As the new year begins, so will a be fresh start for your trading career.
Like messing up the front nine in golf the back nine is a whole new game. Make it yours!!
See this image of compounding account returns - Day after Day - Month after Month - ADDS UP = $50,000 to $1,200,000
So ask yourself, which chart do you want your profit and progress to look like the above or the below?
Pretty obvious you would choose the first graph. Who wants a yearly profit graph that is volatile and ends up going down in the end? Not any MOJO ProTrader… Ask any ProTrader what their profit graph would look like… Every single one will tell you that it would be a steady climb in the right direction! Many many many ProTraders on the MOJO Team are doing this now, are you?
Whether you are starting off with a small account of $5,000 or have an account with $50,000, the idea remains the same because you will be generally buying the same amount of shares… With the MOJO System, you will be compounding your monetary returns by steadily growing your account on a daily basis. There is a reason the day trade room has a daily poll so we can see the progress of the traders. ProTraders set their daily goal at 1% - 5% ROI on their account per day! They want to compound their profits on a daily basis.
Hurry, get out your calculator and do some math: Take your current account size and see how big your account would be at the end of 2016 if you added even 2.5% ROI to your account each day… Pretty impressive result, right?
Are you beginning to see the value of steadily growing your account on a daily basis?
This is the whole idea behind the MOJO System. This is preached every day, this is a business and we treat it as such. This is why MOJO ProTraders shut it down for their day after they hit their daily goal. MOJO ProTraders are not looking for that one big score. They are not gamblers, and they are not risking their whole account to chase one big day of profits. No… Instead, MOJO ProTraders are business men who follow the MOJO Business Plan. They are happy to add 1%-5% to their account each day, because they know in the end, they will be laughing to the bank!
If that sounds like the type of business plan you would like to follow, there is only one place to learn how to put this idea into practice and that is MOJO University. The next session of MOJO University begins July 5th, perfect timing for those looking to learn this summer: http://www.mojodaytrading.com/#!mojo-university/c1hvn
What is your trading plan for the rest of the year? Are you doing as well as you like? How are you going to take your trading business to the next level? Will this be the year you finally quit your soul sucking 9-5 job and become a real ProTrader?
So, has your New Years trading resolution for 2016 worked?
If not, it seems obvious that the answer for all serious day traders should be: MOJO Day Trading!
P.S. Listen to ProTrader Alan | Current Win Streak November 2014 to day = 393 day win streak...what's your longest? Now that's a business!!
P.S.S. If you want to see how ProTrader Mike and his team of MOJO ProTraders put their business plans into practice, check out this Day Trading Video Recap: