You may wonder why i am writing this for you. You may even think whether are you a real trader or just wasting time and money. In reality many people i have met are not traders rather people who are wasting time and their hard earned income. Some even go far becoming trainers because the real trading business has been hard for them and the only way to earn money has become training naive newbies in the industry.
Becoming a real traders like Jesse Livermore, Ed Sykota, Ray Dalio, Jack Schwagger few to mention requires intense spirit and hard work. Successful traders are real entrepreneurs of their own kind, They face difficult times trying to figure out the right way to make money in the market. This process may take few months to years and after that it’s fire.
I have been coaching traders for the quite sometime now and just by seeing some traders and their attitude towards the market is enough to let me know whether he/she can make it or not. Traits of all successful traders in the world are almost the same except for personality. Many come for the money which is a good choice but the money can increase your greed which in turns increase your likelihood of making stupid mistakes and end up loosing money.
BECOMING A REAL TRADER
Real traders spend time with their trading and very passionate with the process of building the skill. As the skill grows then the money showers in and it will always be that way. You have to invest your time learning in order to increase your paycheck. Just like how people go to college to get a masters or PH.D for a nice position in the office to make a good cheque, that is how trading also work. You need to learn to make more. The more you learn the more you earn.
Real traders learn from the mistakes fast and never repeat them any how. I remember coaching one student and he made couple of mistakes but one problem is, he did not learn no matter how hard i tried to remind him, he kept doing the same stupid things over and over until he got wiped out and he finally quit the business. if you can’t learn fast then you are in trouble of destroying your trading career at the early stages.
Real traders never crush fellow traders opinion. I have met many professional traders and some are not even famous at all and they make big money. One thing i learnt from these guys is they are never biased and open to new ideas and concepts. Markets can prove anyone wrong but being overly biased markets can prove you wrong forever.
These 3 are just a few for today, The thread is open for discussion on Tiger Network.