THE KEY TO SUCCESS
The biggest secret to trading is that you need to ruthlessly exploit a few simple trading strategies to become profitable rather than understand a lot of different trading setups. I plan on sharing both with you, but making money is your responsibility. It’s important to keep the goal of making money firmly implanted in your mind. So, let me discuss my mentality.
I am hardly a perfect trader. I am far from that in fact. When I was new to the markets, my biggest fallback as a trader was that, like so many others, I wanted to find the Holy Grail, the “way to trade.” After all, from kindergarten, we are conditioned to find the one and only answer; exclusive of all others. I wanted to discover this right way to trade. What’s wrong with that? Aren’t we trained to find the answer? The problem is, in trading there isn’t an answer; there isn’t the right way; there is only the way in which we make money. If you want to trade , there isn’t an easy way to do so.
The real world doesn’t work so simplistically. And, trading is more a reflection of the real world. There is no “one way to trade” or “way to do it” or “strategy that makes money.” Trading is a mindset, not a technical setup. It is a desire to conquer the markets rather than a formulaic solution. It is a lifestyle.
If you want to trade, you must understand and immerse yourself in the markets. You should be more concerned with success than you are the bottom line. After all, money will come so long as you keep your mind focused. As with many things in life, if you want to be successful, money should not be your motivating factor, the drive to succeed should be. Money should be the result, not the goal.
It requires having above normal thinking and experience to think on these lines and thought… I really thank you for now and every other time for being a morale booster and keeping up the fighting spirit in us on…..Thanks
Simply superb as usual!! U are really great sir!!
very well written sir …
u hv put it nicely. i follow wat all u write.it is all very useful.
Very aptly said in a convincing explanation”Money should be the result, not the goal”! very well written article Sir!