Wednesday, January 14, 2009
The Mind Set of a stock trader.
The method and money management will have little to no value if the mind behind those techniques has not been properly prepared.One of the most undiscovered truths of the day is embedded in the fact that the greatest riches of a successful stock trader lie with in his or her thinking, not with the methods used.To state this another way 'Proper stock trading is proper thinking'.How much time does it take to be a successful stock trader? Not only does it takes many months to years of relentless effort to obtain market proficiency, but also excellence seems to emerge only after one has learned and experienced every conceivable way to lose.The truth of the matter is that the pains, agony, the scars of an experienced stock trader run especially long and deep.If aspiring market mavens do not possess a great deal of fortitude, or if they lack resolve, are devoid of passion, and are unwilling to forsaken all, they simply won't last.Individuals who truly desire market success will have to pay with their blood, their money, and a very big part of their lives.The tuition is high.But the ultimate reward that goes to those willing to pay the price is immeasurable .Successful stock traders enjoy an independence that can't even be imagined by most.They can earn more money in 2 hours than most people earn in a month.But in order to get there you must last.To reach that lofty level, you must survive, however difficult things get.Are you truly willing to pay the price to become a successful stock trader? If the answer is 'yes', develop a plan, get education,practice and never surrender.This burning desire for stock trading mastery is the wind bvehind the sails of every profitable trader in existence.This is the mind set you have to develop as a stock trader.Good Luck in your journey.Muraleedharan.