For many traders, or soon to be traders, chances are you started looking into trading because you heard someone was having success, either online or thru the grape vine; or perhaps you may know someone personally who has been successful at it. If you were to ask any one of those who have been successful, what was the driving factor behind actually becoming a successful trader, every one of them will share in this one thing; they started on a foundation of determination. They refused to quit.
As you begin to trade, practice trading, or may even still be looking into how you can get started, there is one thing EVERY successful trader will tell you…
Prepare for Failure.
Despite what some traders will tell you, perhaps with the intentions to persuade you into buying a get rich quick scheme or possibly due to their own arrogance; trading is not easy money, until you master it. What I will tell you from my own experience is this, you cannot win without the lessons of lose.
Let no one tell you that becoming a trader is impossible or not actually profitable. Even for that person, it still is not. What is impossible, is what you believe to be impossible. If YOU believe something is impossible, then to YOU, that something can never be done. But there is a difference between impossible & difficult. To most people who have not lived in, or grew up in an environment of Wall Street, traders & sellers, or finance and banking, there is MUCH to learn, and it is indeed difficult, but not impossible.
When I first began trading, there were countless times I felt it would not be possible. I saw people who I believed were being successful in something I was working hard on and yet I was still losing trades. I saw the countless internet ads and YouTube traders claiming to be making fortunes, just like you do; yet I still couldn’t find that winning system. And perhaps, just like yourselves, I had my doubts if my efforts would ever pay off.
Maybe I wasn’t smart enough, maybe it’s not for me to have, maybe it’s beyond my abilities, beyond my status. Maybe I should just stick with a job, maybe it’s all a lie. I’ve been to the very edge of these questions, just as many of you may be now, or might have been.
What Made the Difference?
The difference, and the reason I have been successful in trading, is because I do it on a foundation of determination. I refuse to lose. My sole desire is to win at trading. This desire allows for no excuses. While there were and I believe still will be going forward, failures & mistakes, there is only one thing to do when they show up, LEARN, and try again.
Learn the cause of your mistakes, so as to not repeat them. Every time you apply this to your trading, each time you trade, you will then every time you trade, become a better trader. There is one less mistake your making, and therefore, one better move that your making. Eventually, your positive moves that you have learned from previous mistakes, will overcome the moves that lead to making mistakes. Do away with fear of the unknown outcome, or the fear of defeat.
Seek Wisdom, Seek Knowledge
The Christian Bible tell two important things (among many) about wisdom & knowledge. It tells us, “The beginning of wisdom is this: Get wisdom. Though it cost all you have, get understanding” (Pro. 4:7); and to, “Listen to advice and accept disciple, and at the end you will be counted among the wise” (Pro. 19:20). What the Bible is telling us here is in layman’s terms, to know you need wisdom & knowing you must get it is the start of being wise. But in order to get wisdom, you need to seek others wisdom & accept correction.
In trading, there are words you may have never heard before, mathematics you may not have used since High School or College, psychological aspects you may have never conceived or needed, and much, much more. You must have a foundation of determination. Whether in trading, or in any other part of your life, you must commit yourself to the concept of success. Failure only becomes failure, when you quit.
On my journey, and in my desire, I made many sacrifices. Friends, time with family, sleep, holidays & get-together’s; all of these things and more had to be put on the side. Not that they became less important to me, but because they had become MORE important to me. How can I spend & enjoy quality time with loved ones, if I had to worry about debt, or work hours? My own as well as theirs. What was I bringing to the table in the long run that could provide for the needs of these people I care about? While quality time is good, their needs are greater if not at least equal to my own.
In the time I was not spending seeking the wisdom & knowledge I needed in order to acquire my heart’s desire, I was doing more harm than good for anyone, including myself. In accomplishing & reaching my desire, I can afford more quality time and be of greater ability to help others in their own needs & desires. It was hard & yes it took me years to get here. But as I grow in my ability & strength as a trader, the riches of my desires are growing as well. Not just riches in economical wealth, but the quality time to enjoy life.
The fear of the LORD is the beginning of knowledge (Pro. 1:7)
This is my hope for you. I encourage everyone of you to pursue your heart’s desire with good intention, whether trading or otherwise. Start on a foundation of determination. If it is your gift, your unique ability that God has Blessed you with, count it so, and go after the wisdom of it with all your being, until it is everything God intended for it to be in your life. Remember, “If any of you lacks wisdom, you should ask God, who gives generously to all without finding fault, and it will be given to you” (James 1:5). If you face difficulty, suffer through, learn & persevere, just don’t quit. You can & will succeed.
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