I was asked “What does it take to be a success in the markets?”
I paused and asked my self…
Am I better equipped in trading the markets than before? Sure, I am.
Am I immune to emotions and losses? No, I’m not.
Am I a successful trader in this business? I’m not even close.
I can tell with confidence what I am though;
I am a person that has an overflowing passion in trading,
I am a person that has an insatiable hunger for knowledge, and
I am a person that has an intensity to win.
I had sacrificed and risked a lot being in this industry because I knew from the beginning, that delayed gratification will eventually set in. A lot of things changed since, no more going out with friends, no more 8 hour sleep, no more ‘pasyal’ time, etc. Everything was focused and replaced by studying lessons and charting. I have confidence in my mentors’ guidance and there’s so much enthusiasm in me that it really didn’t feel like I was sacrificing anything. I was to eager to learn and thrilled to exchange ideas with like-minded people in the tribe.
In trading, losses are inevitable; Understand that these are costs of doing business and are often good opportunities for improvement in planning and execution. If I’m wrong, I do not personalize the loss, I just say “Next.”. This game is a mastery of one’s self. This is not the get rich quick easy road to riches that some people think it is. It requires a commitment of time, money, and a willingness to work very hard, and hardcore discipline.
When out there, my mind is conditioned to prepare and realize that I’m going to be up against the best tacticians in the market. Training, experience, psychological control, and a realization that I’m not invincible nor smarter than the market has lead me to have a better perception of how things are in this jungle. After all, we can agree that ms. Market is paved with the bones of those who did not learn this lesson until it was too late.
Like in life, being in this business requires constant learning, just keep powering though all losses, disappointments, and failure but most importantly, learn from all of it. How you take all of these learning experiences might be the what makes you a success in the markets.
If ever I feel beat down by the market, I pound a couple of these wise adages in my brain:
“I never lose, I either win or I learn” & “Learning is like rowing upstream. Advance or lose all.”
End of rant.