Good Trading MUST Feel Un-Natural... Here's Why (Part 3)
01/17/2008 12:00 am EST
Today I continue with Part 3, and it's very timely as we begin the New Year and make our New Year's resolutions.
We left Part 2 asking: "how do you overcome those natural (unprofitable) instincts?" Like many things in life, the answer is simple, but that is not to be confused with it being easy. In fact, it may be one of the most challenging things you ever do, if you actually do it. But most of you won't do it. I don't say that to be mean. It's simply the truth. And it reflects one of the most basic success principles that applies to all areas of life:
"Successful people do what unsuccessful people are unwilling to do."
By the way, notice that the saying isn't what they "can't" do it, but rather what they are "unwilling" to do! So, what is it that unsuccessful people are unwilling to do when it comes to trading? I almost hate to tell you.
It's not the answer you want to hear.
It's not what you'd suspect.
It's not glamorous.
It's not exciting.
It's not fun.
Gosh, I guess those are the reasons that most people are unwilling to do it! Ok, I know I'm getting long-winded without revealing the "secret." I guess I'm doing that because as soon as I mention it I'll lose 95% of you who will either:
- Say, "I already knew that"
- Not believe it's as critical as it really is
- Hear the answer and then look for a more exciting one somewhere else
But that's pretty much the point, isn't it? There really isn't any big, dramatic reveal about how to succeed in trading. You've already heard what it takes. Most traders have just chosen to ignore it, or not believe it. But for the courtesy's sake, I guess I'll spill it.
Stay tuned for Part 4 of 4 tomorrow.
By Barry Burns of TopDogTrading.com