113 – Five Lessons Learned When I Failed At Trading
29 May, 2017 / By: Brandon Clay
A personal update, five lessons learned, shifting to real estate, and a pep talk if things don’t work out for you on a project.
Focused on trading forex for 5 months: Apiary Fund & ProAct Traders
Focused on trading futures for 2 months with another mentor.
Paused all trading activities in November 2016. Two years focused on trading.
I’m now focused on a new project: real estate investing.
Trading Mindset: Mini-business, chart patterns, persistence.
Cutting Losses: Cutting the losses of a passion that hadn’t panned out.
Letting Winners Run: Kept working on my marketing business that is growing.
I am not a consistently profitable trader. Episode 0 & Episode 113
Continuing Education: I kept learning and I was open.
Shifting to Real Estate Investing (REI)
It’s so similar to trading, it’s scary.
Many of the lessons learned in trading translate to REI.
Less competition and more obstacles may make a better market for you.
Can use relationship skills.
When Things Don’t Work Out
Two reactions: Get depressed OR perform an After Action Review (AAR).
Trading did not work out for me on my 3rd go-round as I had hoped.
But it opened for me the opportunity for something new.
“When God closes a door, he opens a window”.
Maybe that’s something you need.
Postscript: Why Not Continue Trading Story Indefinitely?
Trading Story was supposed to be my journey to consistent profitability.
Passion is what makes a great podcast. My passion has shifted to a new project – though I’m not planning to do another podcast right now. It’s a real estate investing website at REI Nomad. This is where my Trading Story continues. I cordially invite you to join me at REINomad.com.
Call To Action
If you fail at something (and we all do). Grieve the loss.
But don’t stay there. Remember the reason you started this to begin with: financial and location independence.
Checkout Brandon Clay’s New Project:
REINomad.com: Real Estate Investing from ANYWHERE