Despite the many challenges that individuals may face while trying to become full-time traders, it most certainly is possible to achieve those dreams. Yes, the journey is fraught with difficulty and, more than likely, a few moments when you question if it is worth it, but it is not an impossible dream to realise. I can also assure you that once you reach a point in your trading when you are comfortable with what you are good at, and in a set routine of how you go about things, trading becomes a lot easier and a lot more profitable.
You may have to push through the first 600 or more days of your trading career with little or no success and a lot of emotional pain. If you can do that, and if you can stay motivated to keep trying and learning in the face of adversity, you can and will succeed.
Persistence really is the biggest part of success. The majority of traders lose all their money and fail. The minority of traders lose all their money, save up some more, lose it again, save up some more and then eventually go on to become successful traders. In that sense, a majority of traders fail not because trading is difficult or impossible, but because they give up.
If you are a trader who has just started out or perhaps a trader who has been at it with little or no success for some time now, I want to encourage you to keep trying. Keep bashing away at the dream and eventually it will come true.
I recently had a conversation with a friend of mine who had done a little bit of networking and took some high profile traders to lunch to see what he could learn from them. One thing that all the greats had in common, he told me, was that none of them traded really huge positions or made their money by making a few big wins. It was small position sizes and consistently trading in a disciplined manner over years that got them to where they are today.
Persistence is key. There is no such thing as instant riches. If you want to make it big, you need to make sure that you get the little things right first, and do so consistently. The million rand profit wasn’t made by one or two trades, but rather by thousands of small trades strung together over a long period of time – disciplined persistence.
The truth is that anyone can trade for a living. It is a skill that can be learned and practiced and all it takes to reach that goal is to simply not give up. You may have to have a few very hard looks in the mirror along the way, but the reward is not unobtainable. Real economic freedom is achievable and trading is probably one of the only real ways in which you can achieve it.
So take heart! Success comes to those who work for it. Put the work in and spend the screen time. Eventually you will start to make money, as long as you don’t give up.
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