A successful trader is, in my opinion, someone whose profits are consistently (that really depends on one's individual definition of "consistently" though) more than their losses.
What's really interesting about this thread is that it's raised the issue of what exactly 'success' is? After all, one man's 'success' is another's idea of lackadaisicalness (...no prizes for guessing that - part of one member's profits were used to buy the latest edition of Chambers!)
Strictly speaking, to be in profit by 1 to 2 pence for each year of three consecutive years meets the criteria specified above. So I'll now try (as I'm much inspired, this weekend morning, so to do) and arrive at a definition of
trading success which most of us, with common-sense, would agree on:
'
Success' might mean the ability to cover financially, all of one's needs and most of one's wants, while still leaving enough funds spare to meet with most potential future eventualities.
Hmmm: Much as I like that definition, it's admittedly just too constrictive. After all, very few would call themselves 'successful' if judged solely on that high standard!
OTOH, isn't it very much the case that we are (or at least - most of us are) technically 'successful', without needing to do more than 'the basics of life', insofar as we (or again - most of us) won the
lottery of life, in simply being born in a first world nation, to reasonably self sufficient parents?
Nahh - that definition sidesteps the ambition, drive and passion which we all put into the art of trying to become successful.
So, George Clooney is successful. He entered a career where the usual reality is that most never stop waiting upon tables for a living, and yet still somehow became richer than God's second cousin. And, of course, it's no less likely that he's just as handsome for a large while in his life, too.
But what about JJ, the daytrader? He made enough money last year (and for the second year running) to feed everyone in his family, pay all the bills and perhaps most impressively, he took his family to the Seychelles, where they all stayed in some inexpensive, beach huts, which... eh... partially overlook a five star resort?
Is JJ successful at trading? Yes... ahem... and no.
So, how about a simple, yet figurative definition of 'success' - one which captures the very essence of what it means to be 'successful'?
'Success' means never having to wonder where, or when, your next pound/paycheck is coming from.
Yes. Yes Yes!!! I like this definition best, as it sums up the feeling at the very core of being successful - that lack of needing to worry about the material matters in life!
But just before I go, how about this?
To be successful is to be envied by more of your peers, than you yourself envy.
Hmmm, your Peakoil doth greatly like that one too...
Enjoy, folks!
