Will I Get Rich Trading?...Probably Not
Don't throw that coffee cup at your screen, I'm only being
honest. Do some people get rich trading?...Absolutely. The
internet is filled with talented pitch men that can hype
anything from watching the stars to the latest and greatest
make you rich on auto-pilot software program for your
trading signals. (but the stars thing does work great with my
wife) Well, here today on the World Wide Web I am going to
reveal the Holy Grail of trading. The surprise is it won't be
found sold on the 'net in fact it is not a trading system at all.
It is (drum roll please) being honest with yourself. My
goodness, that's not very exciting after all the hype we've been fed by the guru's.
The truth is there are many trading systems that work,
but there are precious few people can be honest enough with
themselves to pick a system correctly. Most people that want
to trade start off by looking for that system that will beat the
market. Now I know that some systems out perform others and by
all means you should seek the best one. Where many struggling
traders miss the boat is they don't understand the best system
is the one that matches your own personality. If one trader has
good discipline he may not need a system that is very rigid. On
other side of the discipline spectrum, a trader would need many
rules to protect him. If either of these traders try to trade with
other's system they would probably fail. When you try to trade
a system that does not align with your need for discipline as an
individual you are destined to fight the very system your trading.
The holy grail that many seek is the ability to correctly identify
their strengths and weaknesses. This sounds simple but you would
be surprised at how many people will disregard certain weaknesses
that they do not want to admit to anyone, even themselves.
If more traders would first be brutally honest with themselves
and then design a system tailored to their own attributes we would have many more Rich traders.
Will you get rich trading? If you have the honesty to
choose the correct system, and the disciplineto follow
that system it may be possible.
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