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against the pros! If you want a chance to make consistent profits in the market, you need to get serious about learning to trade. |
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Think of the local club champion in tennis. She may be a full time lawyer or teacher, but you can bet that her commitment to winning and to improvement is very strong!!! She practices, reads the latest tennis magazines, and talks tennis with her buddies. |
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Your commitment should be no less!!! |
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Let's look at why the best traders succeed. They all share a burning, unquenchable desire to become successful. But there is more to it that mere desire. Desire alone will not sustain a dream. |
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We all want things, but we are not necessarily willing to work for them. Do you want to be a great piano player, but are not willing to commit untold hours to practice? You may have a desire to succeed at trading, but without a sustaining motivation, you cannotyou will notcommit to the effort nor rebound from the disappointments. |
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The simple fact is that the markets have a stark way of revealing exactly who you really are. They exaggerate all of your weaknesses . . . fear . . . greed . . . emotional meltdowns. |
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So, the first thing to know about yourself is why you desire to succeed as a trader. |
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Is it to get rich quick? You would be better off buying a lottery ticket or starting a "dot-com" business. |
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Is it for excitement? Take up hang gliding. |
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Is it to impress others with your skill and daring? Try rock climbing. |
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These reasons are simply not enough to sustain you. As you learn to trade, you will suffer losses. If you are only in this to make money, you will conclude that "trading is not for me" and you will quit a loser. You will get frustrated with your confusion and your emotions and, if you are only in this for excitement, you will quit a loser. You will get discouraged when you have a series of losing days and, if you are only in this to impress others, you will quit a loser. |
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