Can you take a punch?

Joe Ross

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It's not the number of times you fail that matters. It is all about getting back up after you've been knocked down. Ask any successful person and you'll find that he or she has experienced a mountain of failure. Trading is a challenging profession. Few make it, and of those who do, many eventually blow out their accounts and give up the profession. What's the difference between the successful, winning trader and the disillusioned would be trader who gives up: It's all about expectations, persistence, and a realistic, yet optimistic, attitude.

Positive thinking alone isn't going to make you a winning trader. You can believe that you are destined to be one of the next "Market Wizards," but if you aren't ready to accurately assess your skill level, and put in a heroic effort to develop the skills you need to master the markets, looking at the markets through rose colored glasses won't get you very far. The kind of optimism you need to succeed as a trader is a combination of enthusiasm and a willingness to do hard work. It's similar to the work of an athlete. An opponent might beat you, but you don't leave the field in despair if you want to be a winner. You stand up, try again, and over time, you hone your skills in a variety of contexts until you feel naturally confident that you can handle almost anything. Each setback represents a new challenge, a learning experience that will bring you closer to your goals.

From a psychological viewpoint, there is a lot you can do to help motivate you to continue. First, you can keep your eye on the big picture. Don't worry about the minor setbacks that you experience today, this week, or this month. Remind yourself that if you continue to practice and hone your trading skills, you will eventually develop the skills you need to master the markets. Every trade you make, successful or not, takes you closer to your goal. You will see a new market condition, or you may learn how you mentally handle a specific challenge. These experiences teach you, and bring you closer and closer to mastery. Second, never stay down for very long. If the markets beat you down, stand back up and try again. Persistence and hard work is the only path to success. The difference between those who win and those who sit on the sidelines is an unrelenting ability to face their demons, overcome them, and try and try again until they make it.

Babe Ruth struck out many times in his career, but overall, we remember his winning averages. Winning traders also make many losing trades, but all that matters in the end is how many winning trades that are made and how much money one makes on those trades. You will never find out if you can master the markets if you don't make enough trades. Don't sit in the corner and mull over your failures. Take them in stride, move forward, and make the profits you've dreamed of taking home.
 
Martinghoul, meanreversion, will you through your weight behind my campaign? click link in my sig
 
vote for me too I made a real trade instead! :D

and if you vote for me I will enter you into a competition to win my $40 of amazon vouchers I won from the reviewer contest!
 
joe ross sorry about what i said about you rmum but voting for me has a positive expectancy.
 
voting for me is arbitrage because if you arent in the competition you have nothing to lose but you might win my vouchers or helicopter

(y)
 
I was punched in the throat by a girl when I was younger. A simple "No, thank you" would have sufficed.







(Ok, I jest. I was sparring and, what with it being a girl, I didn't bother keeping my guard up. :D )
 
Isn't Joe one of 'em Yanks? Couldn't hardly be a pikey now, could he? I think he's a yellow-bellied, lily-livered Gringo.

I once got kicked in the head by a girl. Wasn't nice.

On that note, I'd love to vote for all you guys, but I have already voted for a member of the opposite sex.
 
I heard SND has a mangina - does that count?
That, if true, would be a shocking revelation, which would violate the terms and conditions of our agreement.

Besides, I thought manginas are massively on-trend these days, so everyone should have one of 'em.
 
That, if true, would be a shocking revelation, which would violate the terms and conditions of our agreement.

Besides, I thought manginas are massively on-trend these days, so everyone should have one of 'em.

Depends really. I suppose of you were posting on a board called 'Mangina2Win' and you voted for SND's Mangina then it would be completely normal and lacking in any form of shock.

You see, it's all a matter of perspective.
 
Depends really. I suppose of you were posting on a board called 'Mangina2Win' and you voted for SND's Mangina then it would be completely normal and lacking in any form of shock.

You see, it's all a matter of perspective.
Touche, robster! I bow to your superior wit :)!
 
That's just logic gone wrong really. I suspect Arabian has a high post count on M2W too.

e2a - do all the kids really have them? Does that explain the prevalence of the 'Manbag'?
 
Wow. Well Joe, it hardly seems worth it after the ridicule this latest effort of yours has attracted. I don't think anyone reads them any more, they just rush to insult you or talk about things like manginas.

Still, it is a tradition, so:

With cod stocks being rapidly depleted, are you going to turn away from fishing for a living and turn instead to selling fishing systems?
 
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