[Anna-Maria]

It’s a very contentious issue isn’t it. I’m sure the trading business reflects similar success-failure rates across the mainstream business arena.

As with any enterprise, the success factor is dependant upon & reflects the degree of application & compatibility of the driver.

Most of the folks I know personally, who are still engaged in this industry, appear to possess very similar behaviour traits, regardless of their instrument preference.

I think the most important aspect is the fact they’ve found their niche or strength regards the type of execution model (timeframe etc) & template base. By that I mean they wrap a combination of strategies or systems around them, which are compatible with their personalities & constantly work (focus) to improve or develop their (strengths) awareness of their chosen market, in tandem with their execution mode.

They’re not easily distracted, neither do they stray from their goals/aims. And they most definitely won’t flit like butterflies from one methodology to another in search of the ‘easier road’

It takes a certain personality type to progress in this industry. A sound base in math, analytical & methodical strengths are a given. To be honest, those who enter via the college intake route will receive comprehensive training & coaching thru their firms & eventually ‘migrate’ to their trading niche.

Those who come to the table from outside the firms or shops will often seek some form of coaching or guidance from recognized industry personnel. And the fortunate few, who find success outside of those avenues, would generally succeed in whatever they choose to turn their hands to, due to their naturally positive, aggressive & savvy personality traits.

It’s not simply the fact they work hard, but just as importantly that they work smart!!

I take my hat off to those who grind away consistently from a standing start. The workload (research, application, persistency etc) is daunting. It’s a bitch of a task for those with industry experience, let alone those without. It’s by no means impossible for folks to progress without some type of training/coaching, but the time factor certainly becomes extended.

Which is why those who are farther down the road constantly advise newbies to take their time & explore their options before committing their dollars. If you’re fortunate enough to unearth a method or strategy combo suited to your personality style, & you’re prepared to put in the hours to thoroughly test & research your findings + ensure your market is suitable for your objectives, then your chances of success are greatly increased.

But be prepared to burn many candles & try to accept the frustrations & setbacks as trade-off’s & part & parcel of the learning curve. I guess the term “persistence� is a very under-rated statement in this industry LOL.