After spending the last few years talking with thousands of new, semi novice and professional traders, most tend to fall into one of 3 different camps:
The first accomplish everything, the second oppose everything and the third fail at everything. There was a study done by the Los Angeles Times where they conducted a 5 year long study on 120 of America’s top artists, athletes and scholars. The point of this study was to determine if these masters of the universe had some great natural talent that gave them a leg up against their competition. The findings were shocking as these experts had no such natural talent, even most of the parents interviewed admitted that if the star had a sibling they felt the other child had a better chance at success. The study found one key trait and it was not talent, the common trait was an extraordinary drive and determination. They had mental toughness that exceeded their peers, they decided that they were going to achieve and they simply did.
We have heard every rookie trader excuse one could think of and they tend to boil down to short cuts. What's the best broker, scanner, indicator, hot tip etc. All loser talk, if you’re here looking for the answer to those 4 things just stop reading now and save us both the future embarrassment.
“Anything works if you keep trying.”
Nice you’re still here and we have now thinned the herd and can get back on track. There is no secret sauce or perfect indicator that will make you a successful trader. What will, is very simple, determination. Shake looks at 1,000+ stocks every single day even on weekends. Ben is trading his own and his clients money every single day, no matter what the talking heads on TV are saying about the markets. If you don't want to put in the effort that's fine, just don't complain when your PnL isn't anywhere near that of professional traders.
Do you have balls?
In the Group Chat share a time when you had a goal and were determined to achieve it. What did you do to achieve that goal and how could you make that a repeatable process to achieve future goals?