March 26, 2011

What Makes a Pro? $$

There is no secret to trading and no single source for everything you need to know.
• Listen to everybody; you’ll always pick up something.
• Don’t be afraid to ask questions. Great traders were not always great. Most of them remember what it’s like to struggle, and many of them are happy to help someone who is genuinely trying to get better.
• If you learn a little detail, pretty soon the big picture you were looking for starts to take shape right in front of you.
• It’s what you learn after you know it all that counts.
• Being wrong is being human.
• Improvement requires taking a long term approach. Anyone who tells you there’s a quick fix is selling you a bag of goods.
• Nobody can ever perfect his or her trading. The best traders in history have gone through stretches when they couldn’t make a good trade. Champions keep grinding and fight through those times.
• Trading and the markets don’t care who you are or where you’re from. Trading is about posting numbers by your name. And if those numbers aren’t very good, nobody is going to remember your name anyway.
• In trading and life, ego and ignorance are a lethal combination.
• There’s one position in trading that matters most: the ready position. Always be prepared.
• If the trade seems simple that probably because it is. Don’t overcomplicate it.
• You can’t make a racehorse out of a mule but you can become the fastest mule!
• If you believe in what you are doing, say so loudly and proudly. If you don’t, keep your mouth shut because a halfhearted opinion is worse than no opinion at all.
• If you don’t have a target, nothing else matters. If you’re aiming at nothing, in trading as in life, you’re always going to hit it.
• Always be a giver no matter how much you have to give.

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