We have a very unique and special episode lined up this week.
Fasil, a futures trader from Hawaii, has not only managed to achieve trading success in such a short period of time (at great cost I might add), he’s decided to “pay it forward” by using his talents to help fellow Hawaiian’s who’ve had everything taken away during the Lahaina wildfires.
Fasil is offering up a prized piece of art he commissioned in a raffle based on your donations (see links below on where to donate).
I will be making a donation myself, but won’t be entering the competition even though I’d love to win the prize.
Every $20 you donate to a family in need will earn you 1 entry for a chance to win the artwork below:
Note, this donation bypasses the traditional means to get the money to the families as quickly as possible. Just so you know how it works, watch the video on this Hawaiian news channel.
Donate via Venmo – @lahaina_ohana_venmo
Donate Non-Venmo – HawaiiCommunityFoundation.org
Send a screenshot of your donation to fasil.bizuneh@gmail.com for an entry into the prize draw.
The prize winner will be drawn at 9am Monday 25th September 2023, NZT.
Podcast Interview
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Links to Donate
Venmo – @lahaina_ohana_venmo
Non-Venmo – HawaiiCommunityFoundation.org
Recommended Books
Trade Like a Casino by Richard Weissman
Mindset Secrets for Winning by Mark Minervini
The Best Loser Wins by Tom Hougaard
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Key Lessons
[06:19] With trading, discipline is so important. All of us are one bad trade away, one day away from losing everything.
[18:41] The psychology and the risk management are more important than any strategy.
[19:00] A coin flip is more profitable than almost every retail trader.
[21:28] Once you win more than you lose, scale! Don’t look for home runs!
[23:38] Trading is a dopamine regulation game.
[28:50] With trading you can buy your time back.
[31:46] In the beginning before you become profitable, it’s very fragile.
[34:32] It’s okay to lose because once you learn and you can scale, it’s possible that one day in the future, you’re going to have 1 trade that will make up all of your losses from your early years.
[35:41] Whenever you enter a position, if you’re using your edge, you should not really be too attached to a winner or a loss.
[35:54] Taking less trades inherently makes you pickier about the trades you’re taking.
[40:04] To be a successful trader you have to master yourself.
