published-date Published: January 30, 2024
update-date Last Update: June 28, 2024

Are Trading Courses Worth It, Trading Motivation & Misconceptions – Astronaut Auditorium #1

Ever wondered what drives someone to start trading?

Meet Dave, a 28-year-old trader and accountant who entered the trading world with one big goal: to provide financial freedom for his parents.

His story demonstrates the power of determination, the importance of finding the right mentor, and the reality behind common trading misconceptions.

Discover how Dave’s trading journey describes the essential skills and mindset shifts necessary for anyone starting in the trading world.

The Background and Motivation

At 28, Dave is a trader, an accountant, and a dedicated family man from Florida, who juggles numbers by day and analyzes trading charts by night.

Motivated by a desire for financial freedom and influenced by his family’s work ethic, he stepped into trading with a clear purpose: “To escape the rat race of having to get up and go to work every day to work for someone else.”

This commitment, born from watching his mother juggle two jobs during her retirement years, led Dave to focus on giving back, which is why his most heartfelt goal is “to pay off his parents’ home”.

The Beginning of the Trading Journey

Dave’s story is not just about success; it’s about overcoming misconceptions and adapting to the realities of trading. “Things that you see on the internet may not necessarily be real.” He warns beginner traders about the illusion of easy and quick riches in trading.

While some may achieve extraordinary profits, such results often come from leveraging other substantial business funds. But it is possible to start small.

His trading journey began with curiosity and a bold leap of faith. “I saw it on the Internet, all these other guys were doing it. So I decided to try, and I just jumped in on it.”

This initial step was filled with challenges and expensive lessons. Dave honestly shares his early struggles, “I over-leveraged three credit cards… It just wasn’t working.” But the trick is to keep learning and keep adjusting your strategy.

Finding the Right Trading Mentor

The turning point in Dave’s trading journey came with finding the right mentor and understanding the importance of risk management. “Traders need to customize their trading style to fit their personality,” he emphasizes the importance of knowing oneself, controlling emotions like fear and greed, and setting realistic goals.

After spending a lot of money on courses that didn’t work, Dave finally stumbled upon a course that resonated with him. This course, although lengthy, was an “encyclopedia” of trading knowledge that finally made sense to him.

After that, Dave’s strategy evolved as he blended his new knowledge with previous learnings. “I used the fundamentals of what my mentor was teaching and combined it… Now I use the Sierra Chart to pretty much identify my entry and my exit every day.” This approach led to a more structured and confident trading style. “Now I’m trying to make at least $1,000 today from $100,” he says, showing the balance between ambition and caution.

Discipline and Patience in Trading

Dave is an active member of the TradeLocker Discord community, where he often emphasizes the importance of discipline and patience in trading. His trading journey highlights the importance of sticking to a strategy, managing risks, and being patient for results.

This story is a powerful reminder that trading is not just about making quick profits.

For anyone stepping into the trading world, remember that trading is a skill that takes a long time to develop. It requires disciplined risk management, adaptation to market changes, and continual education for informed decision-making and success.

Watch the full interview with Dave here or on TradeLocker’s YouTube channel: