I first heard about Austin and his company Imperial Fx after speaking with one of his students. They were telling me how amazing he was and highly recommended I get him on the show… I wasn’t disappointed.
For someone so young, you know this guy is going places and shows all of us what’s possible when you put fear to one side and just go for it!
I was trying to work out who he reminded me of, then it hit me… Gary Vaynerchuk (a popular entrepreneur who also has massive amount of drive and ambition).
Devour everything below and you’ll see what I mean…
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Trading Survival Guide by Austin ImperialFx
Trading in the Zone by Mark Douglas
Hedge Fund Market Wizards by Jack Schwager
The New Market Wizards by Jack Schwager
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Austin’s Trading Strategy
[12:13] The mistake that a lot of new traders do is they see somebody posting profit shots on Instagram and they think that this guy has the secret sauce to trading.
[13:50] A trendline can be easily fabricated because your eyes want it to be there and it’s actually not there.
[14:08] Trading is very simple but it’s not very easy.
[16:40] The super important thing with trading is that your system should reflect your personality.
[24:21] A trading journal is a super important thing.
[27:23] Only trade when there is volume, trade when there is action, and understand that this totally moves off of different variables.
[28:28] If you want something in your life, you just have to get after it, go take it and it’s okay to fail a couple of times because it’s not the end of the world.
[30:51] Being able to prep your mind and understand that you’re going to get knocked down a lot, is okay.
[32:30] Make sure that you have another source of income that’s going to be able to support that learning curve because it could take longer for you than it could take for somebody else.
[33:28] Seek some kind of mentor or person or something that can kind of show you the right way how to do things.
[33:36] Try a bunch of different things because not everybody is going to respond the same way to certain information.
[36:18] Trading is a sport. It 100 percent is a sport. It’s a mental sport.
[37:57] Dedicating a certain amount of hours to your trading is going to be huge.
[42:42] If you can have a discipline to not trade after certain hours or after exceeding a certain loss per day, I definitely think that will help.
[43:42] You have to work on yourself more than your strategy sometimes because sometimes your strategy is not the problem, sometimes you are the problem.