How to Become a Successful Trader
To become a successful, a trader you must adapt to ever changing market situations over which one has no control, and you must change the situations over which you do have control. It never ceases to amaze me that people will attend a seminar, a class, and buy newsletter mostly looking for something magic, the Holy Grail. A secret, never-before-revealed indicator or tip, to watch someone trade in the hopes that they can pick up some of the magic. They try to learn the trading secrets of some supposed trading guru; or to find the way to becoming rich quick.
However, this is not what the industry or most trading educators will teach you. Yes, there is a certain amount of basic knowledge that you must have, before even attempting to trade. You will have to pay tuition to the market, you have to learn the language of the market and its rhythm. But learning the language doesn’t make you successful. It is a mere stepping stone along the way. You learn about indicators, moving averages and oscillators, but these, too, do not bring you to success in trading.
How to Become a Successful Trader, you read a lot of books. You fill your mind with a lot of confusing information and opinions from other so called professionals. But none of that helps you on your way to success. In many instances, instead of helping, all of these things act as hindrances to your becoming successful.
Finally you reach the point of desperation. Surely there must be some way to find success in the markets. And there is! It has been right there above your nose all the time. The problem is not the markets. The problem is not that you haven’t found the Holy Grail indicator, method, or system.
The problem is you. It is the way you think. It is the way you behave. It is the way you react to certain situations. Until you come to recognize this truth, you will struggle. You may give up and look elsewhere. But you will find that real success evades you.