Wednesday, May 28

Is Trading the most difficult profession ?

In this cutthroat world we live in, we often follow the motto, "The ends justify the means." Blind ambition, self-sacrifice, and extreme self-control are valued. If you can work tirelessly, wait long enough, and quickly recover from endless setbacks, you'll be one of the select few who survive and reap the rewards. It's true in many walks of life and it's true in the competitive world of trading. Trading is difficult. Of the many that try, few realize enduring success.
To be successful as a trader, you must be willing to do whatever it takes, no matter how exasperating. The risks and sacrifices are many. You may not be able to spend as much time with your family as you prefer. You might have to work extra jobs to build up capital and pay for trading expenses. It is often necessary to focus exclusively on trading. You can't be wishy-washy. Only the persistent and dedicated will survive. But in the final analysis, you must ask yourself if the ends justify the means.
It's possible to make huge profits in trading. The difficulty is surviving. Many of the "Market Wizards" from the 1980s, for example, aren't in the business today. You can be at the top of your game one year, and looking for a new profession the next. Survival is important. What's the sense of reaching the status of a master trader if you just burn out after a year? It's an unpleasant truth. Few achieve lasting success, and of those that do, many traders burn out. The stress is enormous. Your money and ego


Continue Reading

0 Comments:

Post a Comment

Note: Only a member of this blog may post a comment.

Subscribe to Post Comments [Atom]

<< Home