Trade Like A ‘Baller’ – (Act As If Your A Hedge Fund Manager)
I want you to imagine for a moment that you’ve already achieved huge success trading for a number of years and you’re now living it up in the Caribbean, sipping one of those cliché island cocktails (you know the ones with the little umbrellas)… you’ve worked your butt off for the last 5 years and you’re now managing a small hedge fund worth $10,000,000. I really want you to imagine yourself in that position for a moment.
Sadly, we need to come back to reality for a moment because we need to complete an important exercise to understand the point of today’s lesson…
I want you to ask yourself a few simple questions:
1. Do you think you would trade differently if you had $10,000,000 compared to $10,000?
2. Do rich guys sitting on islands trading ‘baller’ sized trading accounts really think that differently than you and other ‘average’ traders?
3. Does having a massive account really change the psychology of this game we call trading? Would a ‘baller’ trade differently to an ‘average’ retail trader?
The answers to these questions will vary depending on your level of understanding of the market, money and people in general…
Let me share some insight…
It’s only zeros…
The questions above are not trick questions. The answer is actually “Yes” to all of them…successful traders DO actually think differently than you do, and that is basically why you are reading this article right now. A baller trader trades and thinks differently than you do, that’s why he or she is a ‘baller’ and you are still stuck in average-trader-land.
Do not fret though, with the right mindset and some patience, you can slowly but surely turn yourself into a ‘baller trader’. You would be surprised where some of the really hardcore hedge fund traders have come from…some of them came from backgrounds and stories that are probably very similar to yours.
A key point that I want to really drive home here, is that the money in your trading account is just numbers…and a trader with a really big ‘baller-sized’ account, really just has more zeros in his account than you do. They are living breathing people just like you…they just trade and think differently about the market than you do…and as a result, they have a lot more zeros on their trading account balance than you do. Read on and I will help you gain the mentality of a ‘baller’ trader…
“Fake it till you make”
One thing I want to clarify, is the misconception that somehow having a big trading account will automatically make you a successful trader. Plenty of people enter the markets with good size accounts of $50,000 or $100,000 or more, and go on to blow out their entire account rather quickly. Whilst the answer to question number 3 about whether or not having a big account changes the psychology of trading is indeed yes…the key distinction is that having a big or small account SHOULD NOT change the method and process of your trading.
It is true that traders with ‘baller-sized’ accounts probably have a different trader psychology than you do…but their actual trading process should not be any different than yours. Furthermore, if you want to obtain the mentality of a ‘baller-trader’, it is most quickly achieved by making sure the way that you trade reflects that of a baller. In other words, you need to “fake it until you make it”…
Do you think billionaire trader and fund manager George Soros is sitting at his computer screens punting away on the 5 minute charts all day? Do you really think a guy with that size trading account is going to waste his precious time punting around on 5 minute charts? No…for a couple of reasons…
1) Soros and other ‘ballers’ are going about their rich lifestyle…when they trade they trade big, they go in with a specific view and opinion on a trade, enter it and then go about their business. He’s hanging out with this buddies at the pool bar, riding his wave runner at the beach or courting some exotic island woman somewhere. What these baller traders are NOT doing is sitting in front of their screens biting their nails over every little tick for or against them.
2) Having this relaxed / no-stress approach to their trades actually makes them even more money in the end! Reason being, it eliminates temptation to do stupid things like close a trade out prematurely for no logical reason or over-trade. THIS is the mentality that you need to have in YOUR trading NOW….not later. You do not get this ‘baller mentality’ by trading like a scared hopeless idiot….you get it by trading like a baller even though you might not be one yet. You need to replicate the processes of the ‘big fish’ to turn yourself into one, It. Really. Is. That. Simple.
How to trade like a ‘baller’
Trading is difficult for most people because the mentality required for success is something that’s very difficult to cultivate for most traders with small accounts. However, if you do not have discipline and patience, and learn to plan your trades and trade in a methodical manner, you will never obtain the mindset of a baller. Therefore, you basically need to focus intensely on the process of trading and on capital preservation BEFORE you have a large trading account IN ORDER TO GET A LARGE TRADING ACCOUNT. Failure to do this is perhaps the biggest reason why many smaller traders fail in the markets.
You should look at it as a good thing though…if you learn how to trade successfully on a small account, you will avoid the possibility of losing a very large sum of money like some people do. There are traders who come into the market with no trading skills and the wrong mentality, yet they already have a lot of money and they quickly lose all that money…this is further proof that the money does not make the trader…rather it’s the trader that makes the money!
So, just having a big trading account will not make you baller trader…it will perhaps help you think a little differently about the markets, but unless you really spend the time to develop your chart reading skills and trading ability, you will not totally have the mind of a baller. A successful full-time trader has both key aspects in place that make him or her a ‘baller’; the proper trading mindset and the proper trading processes. The main point of this article that you should take away today, is that if you are starting out from relatively small means, the best way for you to achieve success in the market and eventually become a ‘baller’ trader, is to focus as much as possible on mastering your trading strategy and staying disciplined to your trading plan; perfect the trading process and you will eventually forge a ‘baller’ mindset from that.
Final word on trading like a ‘baller’…
Finally, I want you guys to know that what I wrote about here today IS the truth. You are struggling in the markets right now primarily because you are trying too hard and getting ahead of yourself. You are trading too often because you have an intense desire to make money, and you are risking too much because you think “if I just get ahead a little bit then I will start managing risk properly”. However, this is not the way to trading success, but the way to trading failure.
All successful people, traders and otherwise, understand that time is the only thing that they cannot buy, and they use that fact to their advantage. They do this by trading as logically and as disciplined as possible, because when you lose money in the markets you also lose time…and time is the WORST thing you can lose because it cannot be replaced.
As difficult and as counter-intuitive as it might seem, you will make money faster by trading less frequently (becoming a sniper trader) and by managing your risk more consistently. A baller trader studies the markets for days or weeks before acting, but when he does finally take a trade he goes in big because he has a plan and a predetermined risk threshold, and he sticks to them with discipline. He knows that he has a better chance of having a profitable month by finding two or three ‘damn obvious’ trade setups and saving his risk capital for them, instead of punting around all day on the low time frames. The defining factor of a big-baller trader is NOT how may zeros he has in his trading account, instead, it’s the mental attitude and the execution of his (or her) overall strategy, portfolio, fund, etc. These big-time traders go in big when they have view; they plan and they execute, then they let that view play out. To find out more on how to develop the trading processes and methods that will allow you to ‘trade like a baller’, checkout my trading course and members area for more.
Good trading, Nial Fuller
I WOULD LOVE TO HEAR YOUR THOUGHTS, PLEASE LEAVE A COMMENT BELOW :)
Any questions or feedback? Contact me here.
91 Comments Leave a Comment
Stick to your plan, do not interfere with trade setups and avoid overtrading are some great points from the article thanks Nial Fuller.
Eye opener… thanks so much
You are very welcome!
Excellent article! Thanks for your help.
Another great article Nial.
Once, after some training, which did not give me much, I introduced my own trading method irritably.
I only opened two positions and only DAX.
I closed one as soon as there was a small profit.
The second secured waited for something more. I wrote down applications and made improvements every time I played. I only recorded correct play twice. All the others were inconsistent with the rules that I set for a good entry. I could not change it, and yet my account gradually, slowly increased. Until, after a good opening two positions on the second day instead of some profit, I saw a significant loss.
It turned out that SL only secured for one item, and for the second I forgot and now it was in the red.
I closed it quickly and, agitated, I thought I could make up for the loss, because DAX moved very hard at that time.
In this way, I lost half a year profit in two days.
The experience remained that it worked. My adherence to the rules and improvement of the strategy worked. Even the imperfect adherence to the plan worked.
The more what I read here appeals to me. Thank you :-)
I have a small account too. I know in time I will make my 1st $1000 then go from there little by little. I know I will lose as well but overall slow and steady wins the race.
Thank you Nial for your articles.
Nial Fuller, you are indeed a Forex Mentor. This is an eye opening article towards successful Forex trading career.
Thanks for opening my eyes, again, Nial. Always does me good to read your articles.
I totally agree with your teachings! Ballers are not day-traders. It is either they trade seldom with high quality set-ups, or they finance sophisticated traders. Ballers maximize LEVERAGE.
Cant really imagine George Soros sitting in front of a Trading Station whole day, doesnt make sense. But these guys are the top traders!
DAILY CHART is really great if we apply properly price action strategy. Im getting into my “ah-ha” moment already!
this article was very insightful with very good admonishing and all i can sayis a million thanks to you the trade genius NIAL FULLER……
blessings to you
Thanks a lot sir . this article is exactly what i need to read at this moment .
I have to say that I was thinking a lot about that article ! My answers was triple NO. That is a good sign rigt, I suppose to be on proper mindset :)
That is one of the best articles!
“You do not get this ‘baller mentality’ by trading like a scared hopeless idiot!..”
Yeaa man, this what i’m talking about! (..when i’m talking)
Another great article, Nial. Thanks. Though could do with a definition for a ‘baller’. Maybe it’s Aussie-slang. Is it ‘having a ball’, ‘rolling like a ball’, showing some ‘balls’ when trading? Maybe its all of these.
Thank you again for well written words, uncovering the psychology which is vital for success, and make the whole trade business so exciting :-)
Thank you very much for the brilliant points again. I am sure that I am a lucky man because of finding you.
Long live my great teacher.
Great article Nial. Thank you for the motivation to stick to my plan, to master my trading strategy and keep on being patience week after week.
It really pays.
Nial, one thing I understood from most of your articles was how to trade like a Crocodile (i.e.patience and wait for the big prey).
Thanks for teaching me more about emotion trading and risk reward.
THank you socmuch Coach.
well done Nail . baller baller baller mindset good article
Another great lesson, my personal experience is growing my account to six times its value then trading like mad and ending up where I started. Now I concentrate on my monthly target and cherry pick my signals. Once again my account is growing with practically very little effort and I owe it all to LTTTM
Thank you so much,indeed your are a motivator.God bless you real good.
Yet another building block of successful financial trading!
God will continue to inspire you the more.
thanks nial for your nice artice..im still strugling how to doubling my equity…
Great article. I was really very lucky to read Nial’s article when i started to trade in last July. I’ve never gone into wrong direction, and I have been having a goodrun for the past half year, I will be keep on developing and improving. Thanks Nial.. Once i success in the future, i would like to treat u for a dinner.
Thanks from Malaysia.
very good lessom .
have nice weekend
really motivational..nice stuff,Nial…
Thank you very much Nial. What you have done for me with all your teaching is truly invaluable! Thanks again my friend.
You always hit the right spots in your trading lessons, and it shows just how well learned you are. You have honed your skills and are now sharing your knowledge and experience with us.
ALL HAIL KING NIAL!!!!!!!!!!!!
You are the best mate. Thank you.
thank’s alot niall, it’s open my mind.
My favorite! Trade like a millionaire!
Prof. you cracked another code here “Trade like a millionaire!” you might become one.
Great insights from great guru , thanks for sharing your trading wisdoms nial
since i live in the caribbean i am half way there to becoming a baller trader
This is a reference article to read evey weekend before we start our trading week. Patience , money management and good analysis of the charts. Every one can read it but only few disciplined traders will apply it to each trade… Very inspiring article as always, thank you so much Nial.
Dear guru, I implemented this technique long ago after reading this concept in your another article. My actual trading capital is 6000$. I calculate my trading results as if I am having 15000$ and display as a header in my journal. This helps me to understand how I am managing big capital.
wonderfull article as allwayes. thanks
Nice one, Nial. Maybe this is the different mindset between “Average Joe” and “Millionaire John”…
hi Nial, you are the master of trading
thanks Nial. great article and a great read… lol!
THe articles are great to keeping us focues on our strategy and mindset. It can be temptiing as a novice trader to get impatient or excited and get de-railed.
I took a long time to get used to you Nial, but now I have allowed you to help me help myself. Thanks
for another excellent article.
you´re the only one who can really help me!!!
Thank you so much!!!
I am still looking for a strategy to work with. !!! Can you help me with that ?
great lesson nial, by the way my account has a lot of zero’s, the problem is there are no 1’s in front of them
Nial YOU ARE REALLY MAGICIAN AND YOU KNOW THE WAY OF SUCCESS EXACTLY.
Hi Nail thanks for the light of trading,because the big enemies of success are our emotions.
I like this article so much.
“You are struggling in the markets right now primarily because you are trying too hard and getting ahead of yourself.”
No truer words have ever been expressed that sum up my failures in trading. I went thro’ the period of having to bite the back of my hand to stop overtrading’ try it, it works!!
Many thanks Niall, for your insights.
wow! l can’t never be poor again .Thank you Nail. This is the key God wants me to know.
Please tell me, who are you? Well, God has sent you to this generation of newbie like me. It looks like somebody in my house has told you about my trading habit. You are too much!!! God bless you for sharing your knowledge.
plus, I love that blue cocktail with a little umbrella and 2 chicks hanging around ;-)
Amazing articles, thanks
Really like your mental attitude.
Comes from the place where the struggle with ones personal demons has been fought and have been overcome.
To be able to see the markets for what they are and not for what we think they are, distinguishes the achiever from the others.
Thanks sir nail, for Very good advise
i write many quotes in my diary like; focus on the forest not on the tree – be Patience Such as crocodile- Do not do something just wait – And applied this rule, and then returned the game in my hands
i thank you very much
yucef from morocco
Sorry; forgot to mention that if this trade would have been based on an account size of a mil then I would have closed the 30ish where I knew it was likely to turn, and then waited for another entry and made a nice chunk of change. But because it’s not that much money right now I looked at it incorrectly!
Good one Nial, because this is exactly what I realized I was doing for a long time. Unfortunately; it still happens once in a while like just this morning… Entered in a very good setup, saw the small and large potential. While I leaned toward the small, I went with the large, moved my stop to BE, and of course instead of collecting 30ish pips, I collected none! Still watching the larger move though. (o;
I love this article. Its directed to me in a timely manner. Thanks Nial
Thanks for another great article Nial.
Most of the wisdom you share through these articles I can really understand and relate to, unfortunately I learnt the hard way but do now definitely view the markets with a different perspective.
I “no longer” have the capital to invest through my years of learning , being scammed , bad investments and past poor trading but I’ve struggled through and am now on a ‘long’ road to recovery.
My goal that I’d like to share with both you and other readers is to trade profitably with a proven track record on a live account to attract investors, ( then use those commissions or at least part of, to build my own account ).
This will keep my attitude of trading like a “Baller”
Thank you Niall, for all the great articles you have written, It really have changed my trading and view to the markets.
Hi Nial, My mindset is being transformed by your inspiring articles. Great article! Thank you.
Best of regards.
Thank You Nail.. thanks for every about u and ur effort teaching us to trade.. i never made money in the market before learning from u… but now i can trade the market with no emotions, because iam now trading with my profits. without u in my life i would never have known what profits is.
thank you so much……… I LOVE UUU!!!
A must study article for every beginner…Thanks Nial…
MY PROFESSOR, I WILL MAKE IT.
It is a great article! Thank you!
Very good advise, Thank you Nial.
Great article, right on spot clearifying how it really is, and should be.
Thanks a lot
To become anything in life .You have to sharpen your best tool..It your brain.
Nial, your blogs / articles are always an eye opener, rendering a concept of trading boundaries that I need the most.
Hi Nial I was a short time traded. I am now looking @ 4hr & daily charts so I get more spare time & bigger profits.
man, that was a nice article, so damn true..but i gotta admit, i really burst out laughing on some of your thoughts and samples mate.. makes it more exciting to read..thanks a lot mate..
Thank u, it has made my day. I am about opening a small acct, this article wil really help me.
Great artical nice weekend
Absolute agreed Nial, a master as usual. Well I lost 300K
but never want to chase the lost $$$ as I can lose more.
It boils down to I am not ready, and now learning to trade small first to perfect my trading methodtology.
Baller shot caller 20 inch blades on the impala
True, the best trades smack you in the face until you are compelled to take them. Contrast that with opening up the 1min Euro chart having already decided to trade. Well written…get rich slowly :)leave high frequency trading to the computers.
Youre pointing at me, man. Very reasonable, logical thinking. I will “just” have to adapt to it.
Great article, have a nice weekend/Joe
Thanks for for your great forward talks!!!!!!
hhmm? I heard of a ‘whaler’ trader..but not a ‘baller’ trader? Is this a colloquial ‘Ozzie forex term Nial’? Nevertheless, another great article. Determination, Discipline & Patience. Boy…am i Dreaming about that Cocktail! ;-)
the only comment i can make is to genuinely thank you for all your wonderful efforts towards promoting and supporting the ordinary trader like me. this is another plus to me and my aspirations as a full time trader. thanks for being there Nial. god bless you really big…..
bingo, stop giving excuse like because you dont have enough money or capital to make it big.
if you really have no money, then do demo, challenge yourself. turn 10 1k account into 10k in a year. consecutively, if you cant. forget it, get a job and keep trying.
I must say, this is a very inspiring truth about Trading which is quite very very true. I totally agreed with Nial’s trading approach in this article and I also did the same with my trading style for quite some time now with results. Cheers!
That was an educative thought-filled update. Thanks for that.
Great insight as usual…
For people who are still looking for success in trading, do not search anymore… Nial is the key
This article is really different,
Thanks Nial sir.