When we get into the world of trading, inevitably we look at the people at the top of their game. We wonder how is it possible that they achieved such greatness. It seems impossible as we gaze at those icons to understand how someone could ever reach such heights in their field.
We tell our self “Well! I’m sure that person was born with this talent” or “They were born with that ability. Surely it’s not something that could be achieved; it must be divinely gifted”.
Every master was once a Student
When it comes to trading this seems to be amplified even more because the markets can be brutal and it can feel like you’re just not getting it right, time and time again and yet you look at the people who have achieved what you want to achieve and they are enjoying the fruit of their labor. Moreover there seems to be this huge gap between the ordinary people and those who finally made it. But the truth is, they all had to start somewhere, they were all amateurs once, they all had their struggles and their mistakes, they all had their moments when they felt overwhelmed, they had the same doubts and the critics that you’re having right now. They had their times when everything felt like it was going wrong and they just couldn’t get anything right and they thought to themselves maybe enough is enough.
What does it take?
What makes a great trader? The thing that really separates the great from the good, the great from the not so great and the people that gave up at the first obstacle is that the former is able to embrace their failures and learn. They have grit and determination! They focus on the long term and aren’t constantly chasing short term wins. They know what they want in life and are not afraid to work for it. They can endure the long lonely hours working on their own, sometimes without any tangible gain. They can go to bed and even if they toss and turn all night worrying about their previous day’s performance, they can still get out of bed the next day with a hop in their step and get back to business.
Giving up early!
You see, too many traders give up too quickly when the reality hits them. There is a reason that the stats show only a minority of traders end up becoming successful. Because once things get tough, people give up. As soon as it becomes obvious that it isn’t smooth sailing, that one cannot cruise to the finish line, people make all sorts of excuses about why trading is not for them. It’s a scam, It’s a gambling. Its only for institutional traders. You need too much money.
Find your “WHY”
Once again, who said it is going to be easy? You are a part of an important group of professionals that keep the world turning. Sounds extreme? Guess what? It’s the fact. So why should trading be so easy? The end justifies the means. We need to work hard for it. So if you had a losing day, pick yourself up and remind yourself why you’re in this. There is a quote which says, Before You Quit, Remember Why You Started! If anyone told you that trading is going to be easy, they were just being kind to you. Nothing with great rewards, nothing with such self-fulfillment, nothing with such great potential comes without a struggle, without passion, without the need for pure dedication. So yes! It’s going to be tough.
Long Term Target
Others have done what your trying to do and you can do it too. There will always be individuals who will always discourage you but just make sure that those naysayers, don’t include you. If things have been tough for a while, step back and figure out what you have done right or wrong. If you had a good spell, stay humble and focus on consistency. Make sure you keep your eyes on the long term goal and not on the short wins. After all this is a marathon, not a sprint. But most of all, beyond anything else don’t loose your enthusiasm and don’t give up. Embrace your failures, learn from your mistakes and DON’T ACCEPT DEFEAT. Stay dedicated, this is just a beginning.