Early on, new traders will want to give up. Particularly when they figure out that the first few years are more about studying and paying tuition in losses, than in making money. Trading is a two-sided competition, and you have to be on the right side of the trade to make profits. Not only does this not happen all the time, but many profitable traders only have 60% win rates. Rather, it is the magnitude of their wins versus their losses, and their fortitude that make them profitable. Half of the battle of successful trading is never giving up. Perseverance in trading is about learning, implementation, and dedication.
7 Reasons to Never Give Up Trading:
- Trading will educate you about yourself. You will learn your strengths and weaknesses.
- Learning to trade well will make you a better person. Good traders do well with managing their ego, fear, greed, and with risk management in other areas of their life.
- Trading is a good measure of your abilities. It is competitive, but happens on an even playing field.
- A great trading system can be a stream of consistent income.
- You can grow your capital through compounding, and significantly change your life.
- Nothing else offers the personal control over your financial freedom like trading.
- What else are you going to do? Work a 40 year career in a job you don’t like, making money for someone else?
Quitters give up when they are tired and frustrated. Winners don’t quit until after they have won.
Content credit : newtraderru