Richard Sterling is a financial trader.
In previous years Richard gained public notoriety by demonstrating his trading publicly within the prop firm trading space.
That being said Richard doesn’t currently condone the modern prop firm trading space because he believes that ultimately the trader and the modern prop firm hold opposing interests.
Richard also doesn’t condone trading “influencers” because they are in the business of capitalizing on the commodity of “attention”, which holds opposing interests to the trader.
It’s important to know that in trading most everyone can become an alleged expert however many people aren’t profitable traders. Your trading strategy, principals and philosophies must be ones that protect psychology.
In trading you want to cultivate mental resilience not mental illness.
Constant deliberate decisive action cultivates mental resilience.
Constant hoping, guessing, and wondering cultivates mental illness.
There’s a lot of unrewarded genius in the world and if you believe genius equates to success in trading you may quickly find yourself in the statistic of unrewarded geniuses.
Richard Dennis took 14 people with a lack of trading experience and showed them exactly what to do and they then generated significant trading profits despise lack of experience. I encourage you to think about that next time your listening to a trading “influencer” boasting about the years of hard work they put in and the “skill” they claim to have, or the next time a trading psychologist says you have to breath a certain way to take a trade.
Richard encourages consistent mindfulness into understanding “conformation bias” and its true definition.
Confirmation bias:
“Confirmation bias is a cognitive bias where individuals favor information that confirms existing beliefs or hypotheses, while disregarding or downplaying contradictory evidence. This tendency can affect how people interpret, recall, and seek information. The brain’s structure and function play a role in this bias, particularly areas associated with emotion and reward.”
Richard encourages others to self educate and see if trading is a worthwhile pursuit for them or not. At the end of the day there’s no secret formula better then your own experience and journey because failing forward is the most reliable and most constructive path.
Trading is calculated risk, and within that your gonna make psychological mistakes in which lies the gamble, but as is true in any business , so don’t get discouraged, every business takes time and effort with a risk of no financial returns. It’s win learn that’s your risk.
If you see a trader posting large profits, again don’t get discouraged. Like in any business some businesses do good while others aren’t doing good and vice versa, it’s never such a rigid thing, everything moves within volatility.
Richard’s purpose is to help other traders cut through illusions in the trading world.
Understanding the true essence of trading is half the battle. If you believe a car is a bicycle and you try and operate that bicycle your going to beat yourself up pretty bad wondering why you can’t operate something as simple as a bicycle.
“Don’t ever let anyone shame you for being a trader. I have not met a trader yet that did not have wonderful aspirations to help others with their income from trading and do good things in the world. Trading presents many psychological challenges in which cultivate you into a much better version of yourself, weather your a profitable trader or not. Only a trader knows the truth in this. Constantly mastering gratitude, greed, and fear of missing out are what every trader faces and these things are all part of mastery of one self in many high level spiritual and religious curriculums. Many traders put themself on the ropes in the trading arena day in and day out, with intentions of taking care of every one around them, the primal instinct to provide, and what’s more honorable then that. Like in any other business you can make a lot of money and you can loose a lot of money, and you face demons along the way. Trading is the complete opposite of a selfish endeavor.”
“Trading cultivates enlightened beings that constantly weather storms most cannot fathom.”
“You all have my vote every day of the week.”
“Just keep on going, and don’t stop, no matter what, you’ll soon find out that you can’t be stopped.”
“Be momentum, the rest will happen.”
-Richard SW Sterling