Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.Thomas A. Edison
Are you a relatively new to trading? Are you frustrated and ready to give up? You have read many of the trading books, followed all the trading "gurus," and worked tirelessly. Yet, despite all your efforts, your account is lagging badly.
Save heart, your experience is common. When you start out, new traders are excited. They dream of success, the recognition that huge profits will bring. Some indeed achieve early success, but many soon discover that achieving success consistently can be elusive. Many people are drawn to trading, but few can trade profitability. The winning trader is a special breed, a person who is highly motivated, but at the same time is realistic and able to persist in the face of adversity, this describes, I am quit sure, most of you.
you actually know that you've stumbled upon a profitable trading strategy is when it, indeed, produces a profit. Just convincing yourself you can master the markets with sheer determination and willpower will not get you very far. You must accept the fact that, in the end, trading is like a game, a game of probabilities. Obviously you must take it seriously on one hand, but you must also learn to enjoy the process. Experienced traders take the game seriously, they acknowledge that real money is on the line and it is likely that real losses can wipe out one's account. They address this issue utilizing money and risk management (money management on your total account and risk management on individual trades). No trading strategy is foolproof.
The would-be professional trader isn't fazed by it all. He or she views the money spent on trading as similar to what any professional spends on college tuition. He or she believes that eventually, his or her time and effort will pay off. The winning trader is highly motivated. He or she admits that trading is a challenge and that success is far from assured. Despite this harsh reality, the winning trader persists until he or she achieves consistent profitability.