What’s Holding You Back?
At times, making money in capital markets (stocks, commodities, etc) can be tough… very tough. What separates the winners from the losers? This is the million, Billion dollar question! There are many reasons why some investors/traders become successful beyond expectation, while others fall short. This post will discuss some common factors crucial to finding success in the market. Please note that this article is not about selecting a trading system or developing a sound set of rules. It simply outlines how to identify and understand the common hurdles which hinder most, if not all, investors at some point in their career.
10 Hidden Treasures For Success In the Market:
1. What Do You Want? Ed Seykota, a famous trader, once said, “Everyone gets what they want from the market. Some people want to win, and they win. Some people want to lose, and they lose, other people want to gamble (i.e. have fun) and they gamble.” Before you continue reading this post, list your wants (i.e. in life and the market) then write them down. Writing them down helps turn a thought into a tangible goal, this is a critical and often overlooked step. As often as possible (daily), review your list and adjust it when necessary to make sure your day to day actions are aligned with your “wants”. This is one very powerful secret to success!