The Craft of Trading: Taking The Right Approach
Like skilled carpenters, successful traders are fundamentally craftsmen.
Both have devoted years to the acquisition of the necessary technical skills, and both dedicate many hours to maintaining and improving the standard they've reached.
It’s important to note that technical skill or flair is not in itself enough for consistently excellent performance.
The true craftsman can also be identified by meticulous preparation, almost obsessive attention to detail, and a degree of perfectionism that leaves them forever slightly dissatisfied with their work.
For a carpenter like David, this perfectionism might be reflected in hours spent sanding and polishing his latest creation before reluctantly releasing it to his client.
For traders, it means conducting a detailed review of even their most successful trades, forever looking for ways in which they might be able to improve their performance in the future.
And just as the carpenter will have his favorite chisels, saws, knives, and drills, so the trader will have his favorite charts, indicators, and scanners.
Both will continuously be on the lookout for better tools that might improve their results – even if only by the smallest of increments.
"I currently work as a carpenter by trade. I started looking for better ways to make extra income while still working to help support my family, even considering a second job. "
Why Trading Is Far Better Than Getting a Second Job
With this as his daily experience, it’s easy to understand why for David, the prospect of taking a relatively mundane second job, purely to make a few extra dollars was less than appealing.
And that’s the beauty of trading. It can be practiced in ways that suit almost any lifestyle, and that complement any profession.
Why would David have wanted to take a time-consuming and exhausting second job, when trading offers him not only a much more flexible means of earning some extra income but also the chance to change his life.
Serving Your Apprenticeship And Paying Your Dues
Like any good craftsman, David also knows the importance of serving a thorough apprenticeship, and he’s happy to take things steadily under Jeff Bishop's expert guidance.
“It takes time to be a trader,” explains David, “You have to have patience, time, energy to learn to trade. It really all depends on oneself.”
And this emphasis on self-reliance is indeed one of the hallmarks of the truly successful trader.
No matter how great a mentor you have, and no matter how much money you make by following their suggestions, if you aspire to a long and profitable career in the markets, you must learn to think and act independently.
That means working continuously to improve technical skills, putting together a kit of favorite tools you understand thoroughly, and, perhaps most importantly, designing and consistently executing a trading plan that is yours and yours alone.
This process will, in the end, be far more valuable than any short-term profits.
That’s why David is in no hurry to try and go too far too fast and perhaps put at risk his limited trading capital.
“Jeff can be transparent and offer one good trade a week,” he explains, “and for me, that’s good enough to learn as I go.”
"It wasn’t until I saw a RagingBull ad by Jeff Bishop that got my attention, and being new to Bullseye Trades, I have the opportunity to learn about investing."
Notching Up a 60% First Trade Win
With that being said, like so many of Jeff’s students, David has enjoyed some striking early success.
“My first winning trade as a new trader with Jeff was DraftKings [DKNG],” he recalls, “for 60% profit gains. Not bad for my first trade, but it could have been better.”
And as encouraging as that kind of win may be, it’s the “it could have been better,” part of David’s response that’s most telling. This kind of remark reveals a commitment to learn and focus on the process rather than any immediate financial goals.
"My first winning trade as a new trader with Bullseye Trades was DraftKings for a 60% gain. Not bad for my first trade."
Learn > Risk > Gain: 3 Simple Steps To Financial Freedom
I needed to do something different on the side to help my wife, my kids, my family,” is how David sums it up, “and learning as much as I can as I go, risking the money I have, to gain the knowledge I need. Learning to trade is a defining moment for me.”
Indeed, his brief experience so far with Bullseye Trades has already opened David’s eyes to a whole new world of opportunities.
Helping his wife and kids is now about so much more than just the extra dollars he might have brought home from a second job.
It’s about the independence and sense of security that means so much more than just money.
And it’s about, as David puts it, “The goal... to eventually become financially free knowing that I can send my kids when the time comes to go to college.”
Raging Bull does NOT track or verify subscribers’ individual trading results and these individual experiences should NOT be understood as typical as or representative. Please see our Testimonials Disclaimer here: https://ragingbull.com/disclaimer.