“It takes courage to be a pig.”
Why do some win in the market and some lose? Some thoughts on winning and losing:
Winning Trader’s Traits
- Excellent recordkeeping
- Business like approach
- Professional demeanor
Losing Trader’s Traits
- No record keeping
- Wants action & excitement
- Amateur demeanor
More on Losers
A primary reason for trading failure is the ease one can begin trading. Just complete forms, send money to a broker and you are ready. Or are you? There is no check into your trading abilities, psychological strengths/weaknesses or money management skills.
Think about the education required for other professions. Look at the education an attorney, a doctor or even a craftsman must go through. Trading is no different you need to learn first. People risk thousands of dollars trading, but often don’t possess the experience, education and organizational ability to trade right. A trader’s goal must be to become efficient and profitable. This is only achieved through education, constant self-evaluation and examination of results.
Read the Zero-Sum Article that explains more on winners and losers.
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