Was reading the last page of Naked Trading by Walter Peter and got my attention the ending which was an uplifting and encouragement to work hard and continue the way , just wanted to share this with TMS
Be careful of this overconfidence that often appears as the successful-trading-is-easy idea. Trading successfully can be simple, but that does notmake it easy. Trading successfully will mean putting in the time back testing your system, developing a trading plan to cover all of the what-if scenarios you can come up with, and creating a method for overcoming the doldrums of the inevitable drawdowns. Planning is critical for you to succeed in the long term, but it is not the only ingredient for success.
To succeed you will need a healthy dose of determination. History is littered with stories of famous people who overcame adversity, people who accepted success because failure was not an option. Determination is the common thread among these stories. Walt Disney took three years (double the anticipated 18 months) to produce a movie that went over budget by 400 percent. All the while, people surrounding him questioned whether his full-length cartoon movie would have any mass appeal. The movie was an overwhelming success—you may have heard of Snow White.Another man had an altogether different life experience. His mother died when he was nine. His friend lent him money to run a business, and a year later he lost the business and went bankrupt. He ran for public office on five occasions and lost each time. The love of his life died before he could marry her. He suffered a nervous breakdown. His second son died at a young age. You may know him as Abraham Lincoln, the sixteenth president of the United States. Another famous person began life as a child in a poor household. She was the result of a one-night stand. Her mother worked as a maid. Her father was in the military when she was born. As a young child, she lived with her grandmother in poverty, often wearing dresses made of potato sacks. She was sexually abused by her cousin, her uncle, and a family friend from the age of nine. She ran away from home,became pregnant, and her child died soon after his birth. Despite this dubious start in life, Oprah Winfrey became a millionaire at age 32 and is considered the richest woman in entertainment. She has acted in movies, co-authored five books, and inspires millions who watch her television shows and read her magazines.
Each of these people share one thing in common: determination. You simply must have determination to succeed in trading (or any other endeavor). All successful people share determination. Your determination will guide you to trading expertise in the form of all the hours spent in front of charts, back-testing. Your determination will yield resourcefulness when it is needed most, during drawdowns and when your confidence is shaken. Your determination will help aid you to see your success before it appears. Determination is your ride to success. Let it carry you to where you want to be.
Hope you find it helpful, and I'm in no situation here to promote anything , just something that was intersting to share
Thinking That Trading Is Easy
Be careful of this overconfidence that often appears as the successful-trading-is-easy idea. Trading successfully can be simple, but that does notmake it easy. Trading successfully will mean putting in the time back testing your system, developing a trading plan to cover all of the what-if scenarios you can come up with, and creating a method for overcoming the doldrums of the inevitable drawdowns. Planning is critical for you to succeed in the long term, but it is not the only ingredient for success.
To succeed you will need a healthy dose of determination. History is littered with stories of famous people who overcame adversity, people who accepted success because failure was not an option. Determination is the common thread among these stories. Walt Disney took three years (double the anticipated 18 months) to produce a movie that went over budget by 400 percent. All the while, people surrounding him questioned whether his full-length cartoon movie would have any mass appeal. The movie was an overwhelming success—you may have heard of Snow White.Another man had an altogether different life experience. His mother died when he was nine. His friend lent him money to run a business, and a year later he lost the business and went bankrupt. He ran for public office on five occasions and lost each time. The love of his life died before he could marry her. He suffered a nervous breakdown. His second son died at a young age. You may know him as Abraham Lincoln, the sixteenth president of the United States. Another famous person began life as a child in a poor household. She was the result of a one-night stand. Her mother worked as a maid. Her father was in the military when she was born. As a young child, she lived with her grandmother in poverty, often wearing dresses made of potato sacks. She was sexually abused by her cousin, her uncle, and a family friend from the age of nine. She ran away from home,became pregnant, and her child died soon after his birth. Despite this dubious start in life, Oprah Winfrey became a millionaire at age 32 and is considered the richest woman in entertainment. She has acted in movies, co-authored five books, and inspires millions who watch her television shows and read her magazines.
Each of these people share one thing in common: determination. You simply must have determination to succeed in trading (or any other endeavor). All successful people share determination. Your determination will guide you to trading expertise in the form of all the hours spent in front of charts, back-testing. Your determination will yield resourcefulness when it is needed most, during drawdowns and when your confidence is shaken. Your determination will help aid you to see your success before it appears. Determination is your ride to success. Let it carry you to where you want to be.
Hope you find it helpful, and I'm in no situation here to promote anything , just something that was intersting to share
I Have Learned to Take Some Losses to Make Profits
