The Unseen Work: Developing Trading Skills Beyond the Screens
In today's episode of The Forged Trader Podcast, host Gates Adams dives into the emotional and unpredictable journey of trading, questioning why traders persist despite the challenges. Drawing from his personal experience as a former business owner, Gates reflects on the hardships of relying on others, highlighted by his struggle during the COVID-19 pandemic when he faced business closures due to a manufacturer's deceit. He parallels this to trading, emphasizing the autonomy it offers—no need for office space, employees, or supply chains—making it a path to self-reliance. Gates shares his recent setbacks, including blowing all his accounts in a single session, and the psychological toll it took. However, he highlights the importance of personal growth, discipline, and confidence in trading, underscoring his commitment to becoming self-reliant. Gates recounts his journey of studying, hiring a coach, and improving his health, spiritual life, and relationships, all contributing to his trading success. He also discusses the necessity of backtesting and forward testing strategies to build confidence and maintain consistency.
"There's absolutely no certainty whatsoever in the world of trading."
What you will learn:
Trading and Self-Reliance
Building Confidence and Skills
Trading Strategies and Testing
Future Goals and Self-Reliance
Connect with Gates Adams:
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RISK DISCLOSURE:
Futures and Forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing one's financial security or lifestyle. Only risk capital should be used for trading, and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
HYPOTHETICAL PERFORMANCE DISCLOSURE:
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses is material points, which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program, which cannot be fully accounted for in the preparation of hypothetical performance results, and all of which can adversely affect trading results.
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