Success Tips For Your Trading Business

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trading success

Success.

It’s one of those words that is going to have a different meaning for everyone who seeks it.

For some, it will be untold riches where the only decision to make is when to get out of bed in the morning.

For others, it’s more modest.  Success for them is simply to pay the bills and keep a roof over their heads.

There is also seeking success in an endevor of your choosing.  Whether it’s as an athlete, business person, or a trader, your goals may be more far reaching than simply a monetary goal.

 

What The Superbowl Can Teach Us

I am sure most everybody heard of the great comeback in the 2017 Superbowl.  Heading into half time, Atlanta is up 21-3 and with those numbers, many thought that was foretelling the outcome.

Who would not have loved to have been sitting in the locker room of the Patriots during half-time?  Whatever was said, whatever the players were feeling, they came out, owned the 4th quarter, and are now sporting Superbowl rings.

The mindset these players must have to enable them to continue to fight when it appeared to be out of reach is the epitome of success.

They didn’t need validation.  Deep inside they must have had a knowing that if you continue to fight, continue to execute the game plan, success is a possibility.

And they were right.

Sports is always great to look at when wanting to look into how success speaks.  Think of a hockey player on a team that is finding themselves stuck in a losing streak.  The words are generally how they own it together and that to keep executing the basics, the plays, and to keep bringing the fight until the slump ends.

Those are the words of the successful.

 

Success Comes For Those Who Are Different

Contrast that to what we usually hear from friends and family.  “What’s the use?”.  “I am not good at it”.  “I gave it a shot”.  “Only the connected do well”.

Excuses for their failures and many times they find comfort from those around them.  Even governments and institutions on a large scale exacerbate this problem by lowering standards for testing, label groups as disenfranchised and seek to penalize those who actually found success.

There is no question that those that succeed where others fail think much differently than the masses.

That is also extremely noticeable in trading!

Traders are not immune to any of this.  Marketing has made it seem that anybody can not only find riches but that they are entitled to it.  In a world where entitlement is a growing problem, when people don’t find the success that is “promised”, all hell breaks loose.

It gets worse!

When they have not found success, their automatic reaction to those the say they’ve found some level of trading success is at times, over the top.

Most people allow their emotions to get in the way.  With money on the line, it is understandable but it is also detrimental to the overall success of each trader.   One thing that is tough to hear is this:

“Can anybody show a statement or some other proof that they make money trading?”

Seems a valid question but when you think of it at a deeper level, it points to the psychology of the person being inconsistent with someone who is on the road to success.

Never mind that nobody has any obligation to prove anything to you.  While it may seem logical to ask for records from marketers, that in itself opens up another problem.  I will get to that in a moment.

Overall, it shows that this person is not making money.

If they are not making money trading, nobody else must be.

Therefore, if you are making money you should show proof so this person knows that it is possible.  If it is possible that you do make money, it is possible for them.  Or, if you show them they could simply say you are one of the few and can anybody else prove it.

What is the point?

There is no point in showing someone you are successful.

Why?

It has zero bearing on their ability to succeed! 

Your success does not translate into success for them.  I can tell you that there are zero traders I know that would show some random individual their trading statement or account.  I also know, firsthand, that these traders do extremely well.  Why would they not simply show a statement to prove that someone can succeed?  It does not serve them.  It is a futile exercise. It is also the business of nobody how successful they are.

Let’s get back to the question: “Can anybody show a statement or some other proof that they make money trading?”

What does it tell you?

  • It says that this person needs some outside evidence to know something is true.
  • They know the potential exists but for some reason, they have not crossed over to the winning side.
  • Where does their motivation lay?  Outside themselves.
  • Is that conducive to success?  Of course not.

What am I getting at?

That question while on the surface seems valid, more time than not it is the question of a loser.  Not in the derogatory sense but in the sense that most of what they attempt will be met with failure.  Seeking outside validity is one thing but needing it to continue your journey full throttle, is a mistake.

Thinking that the success of one will impact you or points to your chance of making it, is the wrong road.  I will always point to the Turtle Traders experiment to explain that it is not just the method of trading that matters for success….it is the method that you need (think you need) to find your own version of success.

 

Success Is About Learning And Adapting

One thing I have learnt in my life through reading, personal success or the success of my friends is…..You have to BE something to succeed.

You have to learn through action/reaction and success or failure.

You have to be on a constant learning curve growing from every outcome that results from the actions you take.

Outside validation will get you nowhere and as soon as you ask those questions….you are admitting to yourself that YOU don’t have what it takes.

  • Be a success.  Be growing and learning at every opportunity.
  • Be the only benchmark of success you need.
  • Be the person whose questions reflect that they believe that anything is possible for themselves.

The moment you start with “Can anybody show a statement or some other proof that they make money trading?” is the moment you are putting a dagger in the energy of success that flows through you.

Choose your path to success and  your words wisely.


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CoachShane

Trader at Netpicks
Shane his trading journey in 2005, became a Netpicks customer in 2008 needing structure in his trading approach. His focus is on the technical side of trading filtering in a macro overview and credits a handful of traders that have heavily influenced his relaxed approach to trading. Shane started day trading Forex but has since transitioned to a swing/position focus in most markets including commodities and futures. This has allowed less time in front of the computer without an adverse affect on returns.

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