What people want – and why they won’t get it.
The more I study the true experts at financial trading the more I discover some common themes:
1.They struggled initially.
2.They failed repeatedly.
3.They never gave up.
4. They learned from painful mistakes.
5. They put in crazy hours over many years training their brains.
6. In summary they shared some ‘core psychological characteristics’.
Warning – this is a long one, so if you need to bathe a dog please do that first.
Look, if you want to become a commercial airline pilot, you don’t expect to just read a manual and go out and fly the plane!!! Pilots, doctors, physicists, Formula 1 drivers, top athletes – whatever – they all had to persist and learn. It took several years, you would expect. Yes – some may have had natural talents but that does not mean they could become successful overnight. Those without natural talents may have had to work harder – so what? Did the Gods just favour Dan Zanger over the likes of you?
So – let’s say that out of financial trading you want a 6-figure annual tax-free income and financial freedom , do you expect to read a few websites, a couple books and go out there and do it? Really? If so – kindly leave now; we’re only slowing you down.
To excel at financial trading, I assert that like in any other area of life where great skill is required, you have to do the time and the training. You have to exert effort. People go to universities to acquire knowledge and skill. They spend much time learning some new set of subjects – training their brains. They spend money as well and fall into much debt, which they expect to make up for at a later stage when they find good paying jobs.
Some people will push themselves to find time, energy and funds to invest (after achieving competence in risk-free environments). Some will not. I think we know what happens to those people – and I don’t intend to spend more time telling you about it. [Just to be clear all the knowledge and skill for financial trading can be obtained with no investment of real money – ever! And to be 2000% clear nobody here at this site will ever ask you to put money in anything!].
Financial trading carries amazing benefits that are not comparable to ‘jobs’ (aka employment of any kind):
- You’re your own boss – you account to no line manager or higher management.
- You pay your self based on your performance.
- You manage your own time.
- You can earn while you’re not even at work.
- You decide when you go on vacation – and you could well be substantially better off on return.
- You have more time to live and pursue your own other interests.
- No 9 to 5. In fact it could be a 6AM to 9AM on three days of the week.
- You wouldn’t need a pension.
Sounds great – don’t it? So what’s stopping you? The sad answer is ‘you’! You want it but you won’t work sufficiently hard at it – and you will find plausible excuses why you can’t. That’s like wanting a degree in astrophysics but you expect it to just land in your lap. Or like wanting to be a black belt in Karate, but you don’t want to train. Get real!!
If you want it bad enough – whatever it is – you have to go out and get it. You have to work at it and show to yourself that you are working at it. You manufacture the time, energy and resources to achieve what you want. Why not stop screwing yourself!!!
Time – friend or foe?
Several times over the last year, I’ve had conversations with others about finding new orRead More
The loser’s game
The news has been out from August 2018 that the European Securities and Management AgencyRead More