So many traders long to quit their day jobs and make trading a full-time gig.
Sure, there are a lot of perks with being your own boss.
- working from anywhere in the world
- managing your own time without answering to a boss who doesn’t see your potential…
But before diving headfirst, you need to understand what it means to treat trading as a business and a career. In order to help you prepare for this journey, we were joined by a special guest, Jason Graystone, who started his first business at 22 years old. He is an investor and currency trader and has successfully built and run multi-million-pound businesses, both in the service sector and online.
Watch the Full Trader’s Mindchat Show Interview with Jason Graystone Here:
Jason is the co-founder of Tier One Trading (TierOneTrading.com) and started the Trader Vault Online Summit (in which MARA’s Mike Lamothe is grateful to have been one of the panelists across this elite group of traders Jason brought together in April 2021). Jason believes that everyone deserves to live an inspired life, and talks about financial empowerment and wealth creation on his podcast, https://alwaysfreepodcast.com.
Here are Top Ten Trading Highlights from TierOne Co-Founder Jason Graystone!
- Formulize a roadmap & Set a Goal to Become Financially Free. Put a definition to “financial freedom”. This simple step will help you develop a roadmap to get there.
- Have a STRONG WHY! After having his first son at the age of 22, Jason didn’t want him to go through a childhood like he had where he didn’t have a father figure and money was scarce. Though it would take 20 years of saving 15-20% of income and invested into passive funds, Jason managed to gain financial freedom by the age of 30.
- Freedom is a huge part of the equation. You have the choice to do what you like, having time, and not tied to a particular place. You can be mobile. Don’t be reliant on anyone else.
- Make it Mobile and Make it Passive. Most people want more time to be with their family. All experienced this in 2020! Everyone needs to be mobile (can work from anywhere in the world) to be free. 70% Freedom. 30% financial.
- Saw his life like the game Tetris. Organize goals and aspirations like a game of Tetris. Make goals more compact so you can shift and change the next block to fit into the puzzle.
- Key to successful trading is consistency. Build a system around when you can consistently be at the charts without any distraction. Then can start to mold your life around that.
- Focus on performance rather than profits. Focus on performance and profits will come. Performance means trading your plan flawlessly with no errors.
- Find that consistently profitable level Like the heating analogy….turn the heat up or down too much and you are never satisfied or hit that sweet spot. Don’t tweak it too much until you find the right level. Give yourself 12 months to find it.
- You can’t learn discretion. You can only earn it.
- Having a cushion will help give you stability and peace of mind as opposed to living day by day. Jason referred to the Princeton.edu IQ Test example, which concluded that poverty reduces brainpower needed for navigating other areas of life. In the example of sugarcane farmers, their harvests occurs once a year, and these are farmers who find themselves rich after harvest and poor before it. Each farmer was given an IQ test before and after the harvest, and had higher IQ points post-harvest compared to pre-harvest. It concluded that scarcity consumes “mental bandwidth” that would otherwise go to other concerns in life.
No matter how you get started, the most important thing is to start. If you are interested in the market, this is the best time to learn and get your feet wet. MARA Wealth is here to help guide you. Start with our free Trading Mind Decoder that will help you de-frag your mind and start sprinting toward your goals.
Download the Trading Mind Decoder here.
To continue crushing it with your trading, check out the following MARA blog posts:
4 Ways to Boost Trading Confidence!
Top Ten Trading Highlights from Adam Sarhan
The Four-Walled Prison of a Trader’s Mind