New traders and rich traders speak different languages. They see the markets differently. New traders see the riches and rich traders see the risks. New traders see the possibilities while rich traders see the probabilities. New traders want to get rich quick while rich traders got rich slowly. New traders love to imagine potential profits while rich traders always do the math. There is a language barrier.
Here are the big differences in their vocabulary and how they see the markets.
New traders have ‘picks’, rich traders have “high probability entries”.
New traders “make great calls”, rich traders have robust systems.
New traders have ‘conviction’, rich traders follow price action.
New traders have ‘opinions’, rich traders follow trends and chart patterns.
New traders look for tips, rich traders look for risk/reward ratios that are in their favour.
New traders ‘like’ certain stocks, rich traders like to make money.
New traders make predictions, rich traders have quantified entries and exit levels.
New traders ‘go all in’, rich traders have maximum bet sizes.
New traders are gamblers, rich traders are casinos.
New traders have hope, rich traders have mathematical probabilities.
New traders have ‘picks’, rich traders have “high probability entries”.
New traders “make great calls”, rich traders have robust systems.
New traders have ‘conviction’, rich traders follow price action.
New traders have ‘opinions’, rich traders follow trends and chart patterns.
New traders look for tips, rich traders look for risk/reward ratios that are in their favour.
New traders ‘like’ certain stocks, rich traders like to make money.
New traders make predictions, rich traders have quantified entries and exit levels.
New traders ‘go all in’, rich traders have maximum bet sizes.
New traders are gamblers, rich traders are casinos.
New traders have hope, rich traders have mathematical probabilities.
Source: www.newtraderu.com
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