Driving to Succeed

[Joe Ross 10]

Of all the people who attempt trading, only a few become consistently profitable. I have knows some who achieved early success, but it was often short-lived.

 

Sometimes a trader will hit a winning streak, but eventually the streak ends. It is not an easy thing for those who want to sell you their products to admit, but long-term success eludes many traders. It is the exception rather than the rule for an aspiring trader to succeed. It seems to happen only for those who have a strong drive to go all the way.

 

Books have been written and tests structured in an attempt to discover what it is about successful traders that enables them to make it to the end. I have never seen results that produced a definitive list or a common denominator. Yet there seem to be some traits that are common to successful traders; these apply to those who succeed in any field, not only trading. By acting like the successful, you'll put yourself on the path to success.

 

The characteristics follow:

 

Persistence: They persist until they reach an objective.

 

• They are not easily discouraged.
  
• They push themselves to the limits and build up their skills until they achieve high levels of mastery.
  

Organization: They are extremely organized and focused.

 

• They set priorities and devote their energies to the work that really matters, while ignoring tasks that may have relatively little impact.
  
• They carefully monitor their performance.

Honesty: They would rather have honest, accurate feedback that addresses their shortcomings in scrupulous detail, than receive sugar-coated fluff that temporarily makes them feel good.

• They aren't afraid to face their shortcomings head on.
  
• They work independently, and focus on their own internal standards.
  
• They are not concerned with the performance of others.
  
• They are extremely competitive, but they don't compare themselves with others. In the end, they are not consumed with doing better than others, but in enjoying the process of trading.
  
• They look inward rather than outward when determining how well they are doing.
  
• They are not afraid to face their limitations. They work around them, andapproach them with a realistic sense of optimism.
  

[Sledge 13]

Joe-

Thanks for the post- great for new folks and older souls who need to remind themselves of a few of these items from time to time. I have been to your site a number of times and find your "No B.S. approach" to the things you bestow your wisdom upon- very refreshing!

Aaron

[Joe Ross 10]

Thanks Aaron, it's nice to be appreciated.

 

All the best in your trading,

 

JR