Article The Cycle of “IT”

T2W Bot

Staff member
It is time to revisit an ever important topic. I have been in the trading and trading education world for many years. This has allowed me to watch traders grow at different levels and reach different levels of success and failure. I have often wondered and speculated on the difference between those who achieve success and those who fail. For me, the answer lies in the proper definition of success when it comes to trading, or any occupation for that matter.
Let me explain a scenario that I have experienced hundreds of times with individuals going through trading education. There was a gentleman back in 1999 whom I met at a trading seminar. He walked up to me before it started and introduced himself. He had been reading my daily trading advisory letters and was very excited to meet the face behind the letter and take the seminar that I was giving. He explained that he had a family and that trading was going to be "IT" for him. He wanted to make lots of money at it and do it for a...

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jeff2

Newbie
I found “IT” and enjoy “IT” only it’s my “IT” and someone else might say how can that be “IT”. Well “IT” is different for everyone and once you find “IT” don’t be surprised if you learn another lesson “To be careful what you wish for you might get “IT”.
 

new_trader

Legendary member
What if you are not a consistently profitable market speculator yet? Don't give up! Remember, most of your failures could have been converted into success if you had continued on for a short time longer or made a little more effort. With a positive attitude, you are ready for all the adversity and short-term defeat that leads to success. You see, adversity is really a stepping-stone requirement along the path to success. Without the positive attitude, adversity more often than not leads to failure. When you eliminate failure as an option and remove all escape routes, you will be surprised how fast you figure out how to succeed. What about Thomas Edison? He attempted to create the electric light bulb only to fail 10,000 times. How did he press on with so much failure? That all depends on how you define failure. He viewed each failure as a very positive step in his quest because with each failed attempt, he was eliminating a way NOT to produce the light bulb. The more times he failed, the closer he was to achieving his goal. The same goes for trading. So often, people give up just as they are about to become consistently profitable. The next time you get discouraged because of a few trades that didn't work out, think of Edison's 10,000 bad trades and the success that came from that failure. Next, once you invent your light bulb, make sure you spend your life using it to feed your grander vision, not trying to improve "it".

Good article. It is all about effort and perseverance, although in this forum you would think it's a case of having 10,000 monitors to keep a close eye on all those 'profitable' set-ups.
 
 
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