Trading Is a Marathon Not a Sprint

18 June 2016, 11:48
Sherif Hasan
0
25


Do you want to become filthy rich over night and earn six figures per day by simply taking your slice out of the daily $5,3 Triillion turnover in the fx-market? Just adopt "this holy grail bs system" and you will soon climb to the top of this years forbes list.
Sounds familiar? In the last few years a whole industrie has grown promissing the quick Sucess in trading the markets. Newbes fall often for theese "Piped Pipers of Hamelin" and eventually throw they money away twice by deploying worthless products on real $ accounts. Most give up out of frustration and the rest understand that this is not a get rich quick kind of business and it is just rewarding if you work hard and smart.

In business the first years are tough, slow to none growth stuggeling to break even no hollyday vacations 110% commitment just to survive the first few years. Many fail because their lack of commitment and stamina. Rougly 56% of businesses fail during the first 5 years what is still encouraging compared with trading failures which I estimate much higher.

The good thing is even if its hard it is still possible to be successfull in this business if you are following some key principles.

  • Focus your energy towards achieving your goal.
To have a goal is crucial if you want to reach success since this is the main source for motivation no matter how hard it gets, you always know what you are working for and that eventually everything you expirience is a piece of the big picture.

  • Dont let obstacles and unplasant conditions scare you.
Sometimes tha market can be merciless or atleast it can be felt so. Mistakes and setbacks are unevitable and should be seen more as a way to improve and grow stronger and wiser than a reason to get frustrated and throw the towel. Dont quit, get over it and move on.

  • Be patient.
Patience is what separates the wheat from the chaff so never underestimate its power. I like the analogy between a growing business and a growing bamboo since in the first 5 years the bamboo just gets nurtured by the farmer not even showing up on the surface. After this seemingly wasted 5 years the bamboo shoots ot of the ground over 30 meters in just 6 weeks. You have to keep the same commitment durig your hard years when you develope as a trader.
I want to end this post with this quote:

There are no secrets to success. It is the result of preparation, hard work, and learning from failure.
Colin Powell
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