The other day I was having a conversation with a good friend who is much more the dreamer than the doer. He is someone who has an abundance of wonderful and potentially productive ideas. A person who is blessed with the ability to see opportunities. Yet it is exceedingly rare that he ever attempts to avail himself of the opportunities he foresees. Instead, he is unhappy in his job and dissatisfied with where he is in life. I suppose he is not alone.
During our conversation he told me how much he wanted to become a successful trader and how he knew that would change his life so much for the better if he did trade and trade well. It has been the same lament for the past 10 years or so. He sees an important reason to change but makes no change. The fact is it takes more than wishing to change; it takes action. I asked him how many practice trades he did in the past year and, of course, the answer was the same as it has been for many years -- none.
Skill in trading does not come from wishing it or dreaming it. It comes from study and practice. In fact, it seems to me, that is what success in any endeavor in life demands. It is particularly true in trading. In my experience far, far too many would-be traders think they can just go try it without study or preparation and are then surprised when they turn up losers. We have a pretty good idea of how well a surgeon would do without training, or a dentist, or a lawyer, or a plumber or an electrician --- you get the idea --- so why would we expect a trader without training to do well.
Wishing and dreaming doesn't do it; action can.
by Bill Kraft, Editor
Copyright 2010, Makin' Hay, Inc.
All Rights Reserved
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