Do you have another trading psychology tip to share with me?
Most successful traders are managing other people's money and not only their money. Which would be my recommendation to anybody who wants to become successful and rich through trading. Building a track record of a great trader is going to help to attract new clients. The benefit of trading with other people's money is that you can put on larger positions and you not only profit from when your trades are doing well. As a trader you know every day if you make money or are losing money, your positions are red or green, there is no inbetween. When trading money for other people who usually get a fixed fee for the assets you trade. This helps to generate income during bad months or when the markets are moving sideways.
Without a doubt that is an option for those that want to become professional traders, but it carries its own set of risks, because when you are trading only with your own money and you lose, then you can accept the losses and move on, but if you are trading with the money of someone else and you lose part of it, now you need to give explanations about why this was the case, and if those people are not happy with the explanations you gave them, you may even get sued.