The winning trait in trading – clever determination
Determination - Dedicated vs Stubborn
One and a half year ago, I took up jogging. Initially, it was a struggle. Started with fast walk for few months. Subsequently progressed to slow jog. Started with 1.5km and slowly increased to 2.0km, 2.5km and now 3.5km per jog.
It was definitely torturing, I felt like giving up every time when I reached my threshold of 2.5km. Yet, when I managed to complete my goal, I love the victorious feeling that I made it finally – like when I made it to Annapurna Base Camp after trekking for 18 days many years ago.
Winning in trading is about dedicated determination
Here I’m referring to making profit consistently in the long run. Forget about beginners luck or short term win.
Having trained and met many wannabe-traders and traders, those who can truly succeed have few traits (among many others):
- Clever enough to know which method is suitable for them (not which method is good)
- Dedicated to pursue and refine that method (or to pursue training and learning from a trainer)
- Determined to master that method (or to stick with a trainer)
This is what I meant by dedicated determination. They are focused to win and they don’t mind repeating the same thing everyday, every time to perfect it.
Yet these traders are clever to head in the correct direction to find a fit between a method and themselves (whether the method fits their personality or reward/risk tolerance).
On the contrary, many others who failed or barely succeeded, are those who always shift from one method to another, often hoping to find a holy grail.
You can't succeed in trading from being stubborn
Many students asked me whether I can assist them to succeed in their trading. Told them that I will do my best to train them (even arranged one to one webinar -Singapore has declared a circuit breaker period for 2 months from April to early June 2020). However, I emphasized to them, that a large part of their success comes from their ability to carry out proper trade management.
Don’t be stubbornly determined to hold your losses
The most common problem I found in my years of training is that many traders are too determined to hold on to their losses.
Stubbornly determined hoping that their trades would eventually turn to profit if they were to hold on for a little while more.
Going back to my jogging, it is during this 30 mins or so, that I am so single-mindedly focused to complete my running task. It is like a symbolism that I could eventually be profitable for that day. At the same time, I reminded myself not to be stupidly stubborn (or stubbornly determined) to hold on to my losses or views of the market.
Admiration for many who are cleverly determined
Did I tell you I draw inspirations from my students?
Personally, I find that it is not easy for many traders to stick to trading-related goals such as I want to get “most of my executions right”. It is easier for one to dream big of making millions of dollars and ultimately to blame their failures on a method or the person who taught them.
Hence, I admire those who continued long enough with their trading. Many of them have this trait I mentioned earlier (clever determination). For example, there’s a student who read all modules of Free Advance Course and Master Course 5 times to make sure that he understood everything. That’s determination in an intellectual way.
How about crazily determined?
I also admire those who are crazily determined – to name one who was top of my mind – Steve Jobs!
One more person who fit my definition – a student who is a sports fanatic and crazily determined and finally launched a copper ion-infused mask (and more copper ion-infused products probably later) after I shared my experience with her.
As many might know, copper has antimicrobial properties and is proven to kill bacteria and virus. I know from first hand experience that bacteria infection can wreck havoc when I nearly lost my father to series of bacteria infection. Some events that caused his life-threatening infection could be prevented.
Crazily determined to market copper ion-infused mask
Successful trader trait: Clever enough to know which method is suitable for them (not which method is good)
Well, I believe proper protection must continue on after the end of Covid-19 circuit breaker. Wearing a mask is new norm now and I am going to continue to wear it. Ever since I know that copper ions can reduce virus and bacteria effectively (e.g. Covid-19 is effective on copper for 4 hours only but can stay on surgical mask for 7 days, see report), I put on MOIcu+ copper ion infused mask for myself and my family after I’ve gotten them. To many who like to wear reusable mask, I tested on these masks’ breathability and they are crazily breathable. See my social proof.
Follow me at instagram on my jogging, my trading and crazy mask photos (Sometimes I will showcase my 2 little goons too!)