There is a substantial risk of loss associated with trading Derivatives . Losses can and will occur. My methods will not ensure profits

Monday, October 29, 2012

Reading: The Trading Contradiction

One of the real contradiction traders face is that the forces that attract people to trading are exactly what make them lose in trading.
For most traders, trading is attractive because they can:
  • Make a lot of money - greedy
  • Get rich quickly - impatient
  • You have the best commute - lazy
  • Make a good living trading only 2 hrs every day. - super lazy
  • Live anywhere - mercurial
  • No bosses or employees needed - poor social skills
  • Be unaffected by economy, political shifts, natural disasters, etc. - fearful
  • No hard assets, office space, etc needed. - unattached.
As you can see, the worst developed personalities are naturally attracted to trading and its no wonder that 80% of traders lose everything they ever put into trading. To be successful, you need to fight the very qualities that brought you to trading in the first place. This is the contradiction that traders face on the very first day that they begin to trade.

Once you acknowledge that just choosing to be a trader automatically sets you up for failure, you have the opportunity to amend the very qualities that brought you to trading and modify yourself to be the very opposite and thus be successful.

Cadver
http://ninetrans.blogspot.in/

3 comments:

  1. Hello ST,

    Nice post and thanks for the link.
    I have all the traits, no wonder I lose 80% of the time :-(

    Best Regards,
    Mr. Pai

    ReplyDelete
  2. Mr.Pai

    Read everything written by Cadver.He is just fantastic.
    You will learn a lot.

    ST

    ReplyDelete
  3. Awesome Post... I just wonder, i should have read it some 5-7 yrs prior to now, when i was just starting with my trading career. Would have surely been a different person and a different trader then what i am today.
    Will surely brush across what Cadver has more to offer...
    Thanks again for the post.

    ReplyDelete

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