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  • Do you deserve to succeed at trading?

    It’s an important question to ask and explore whenever you’re trying to improve your trading and your level of success. I know this might sound strange to you at first, but the more you think about it, and the more you read today's lesson, the more you'll realize I'm only stating the facts.

    BERND SKORUPINSKI Jun 26, 2019
    forex futures stocks trading success

    Successful people in all various professions and endeavor do deserve the wealth and achievements they have acquired and accomplished in their lives. They deserve all the money and success they have. They have strived and worked hard to earn and acquire it.

    Something amazing you'll realize is that these successful folks have traveled the road less taken. They have decided to offer the sacrifice it takes to be successful and stay that way. Successful people don't just wait for their success to come. 95% of the time they are making decisions the average person would consider too stressful or inconvenient, they are continually pushing themselves to be better each day, and with every minute, they are trying to improve and become better versions of themselves. They invest time, money, and every other resource to be better each day.

    The rich and successful are always ready to sacrifice whatever it takes to bring their dream into reality. The primary thing that differentiates successful and unsuccessful people is the meticulousness and attention paid to tasks. They know what needs to be done, and they are ready to get it done. They are always prepared to learn and unlearn. They are always absorbing and digesting new information and are usually the ones to take the lead in a group and generally take the most risk.

    That is the simple price to pay for excellence in any endeavor, be it sports, business, trading and investing, or top-class executive positions. People don't just get a good lifestyle, because it was handed down to them without deserving it, they get it because they proved themselves more deserving than others.

    If you were sincere with yourself, where do you think that leaves you in the grand scheme of things, do you deserve the success you want? If you are looking to lose weight, are you currently taking the necessary steps? Are you eating healthy and exercising regularly? Have you taken it upon yourself to study nutrition and how it affects you, or are you just winging it and hoping you get the desired weight without putting in the efforts? If so, then you probably don't deserve to lose weight. As a forex, futures, and stock trader, are you continually studying the financial market and practicing improving your Supply and Demand trading skill-set, or are you lackadaisical about self-improvement and self-discipline? Are you consistently looking for mentors and how to learn, or do you just sit in your comfort zone doing nothing?

    Not trying to pressurize you or keep you on your toes, but after all, is said and done do you still think you deserve to be a successful trader? Would your success not be an insult to those who are doing what it takes?

    If the answer to the above is no, then don't fret, read on.

    I understand that you might be at your starting point and you might not have reached any of your goals, you might even have less than $1,000 in your trading account. Have you ever thought that the key to being the millionaire you want to be is to start reasoning and acting like one from now? I have taken the time to help you through whatever phase you are in now to the stage you desire to be in the future. These tips will help get you in the right frame of mind to get started on any of your endeavors and get you closer to self-confidence.

    Do you have a reason for trading forex, futures, and stocks, and what is the result you desire?

    A lot of forex, futures, and stock traders have no specific reason for trading and investing, they are merely looking to make some quick cash, and that in itself is a huge problem.

    If you have no idea where your destination is, how do you get there? How do you use a map to find your way if you have no end in mind? How do you know when you get lost? Without a specific goal, there is absolutely no sense of direction. You need to write down your reasons and know how to plan towards them.

    If you don't do this and you want to leave it to chance, then you might as well be gambling.

    You need to understand that trading and investing in the forex, futures, and the stock market is a business that is just as real as those who have to rent office space and all. You are conducting your business in the financial market, which is the biggest stage yet for any business. You need to give it your full attention and understand that you are trading your money and if you don't get yourself prepared and get to work, you are going to lose at a rate so fast, and it might make your head spin.

    Part of being prepared is clearly defining your reasons and not just leaving things vague. The only way you can make fast money is by luck, which I can tell you for a fact is not very dependable or reliable because you'll end up blowing up your account. Define your end goal and your reasons to get started the right way.

    An example of a goal could be to diversify your income and create new streams of resources; this is a real achievable goal as against saying I want to quit my job after one month and make 10thousand dollars; this is unrealistic and entirely unhelpful.

    Your desire for skill has to be insatiable and unquenchable

    If a man like Warren Buffett still reads every day, yet takes time to study and continually work to improve himself, despite being almost 90years old and being one of the richest men alive then what excuse do you have? Most people would have stopped trying to be better if they had half of what he has, and that is why they cannot be him.

    After Tiger Woods has managed to achieve almost everything professional golfers dream about, he still practices regularly. His drive presently still matches his drive before he became successful. This points to the simple truth that the money and fame wasn't the end point because he has that already. Most people would have retired to a vacation home and just enjoy themselves if they ever reached the level he is at. To be able to keep improving even when at the peak takes a lot of discipline and passion, which is what it takes to be successful at anything at all.

    If the desire to get better each day does not drive you and you don't want to know more and develop more, maybe trading is not for you, and you need to find another endeavor.

    Are you trading to fuel your gambling habit, or you are in it for the long term?

    I know you might say or even honestly think you are here for the long term, but your trading habits and how to feel about planning says a lot about your real end goals and desired results.

    Lack of a solid plan simply means you don't care enough to succeed. If you are still not assured of your success, then you need to recheck your strategies and work on building yourself up.

    Day traders are usually in a constant state of being tempted due to their overexposure to charts all day long. They end up gambling most times even when the trades don't match the setup standards they set. To be successful, you must learn the discipline of holding trades for multiple days, weeks, months, or even years.

    Consistently successful professional forex, futures, and stock traders have learned the importance of making only calculated trades and not just on impulse. Only a few people can resist the temptation that comes with day trading. The best way is to create a plan and stick to it. Learning to trade towards a goal is quite essential as it helps shape decisions and prevents taking an uncalculated risk and turning trading into a gambling enterprise.

    How do you treat your trading and investments?

    At the end of our Supply and Demand strategy trading course, we focus on building a trading plan because I understand how important it is, and I want to help you speed to track the process. If you don't currently have a trading plan, you need to develop one now because it is crucial.

    Every business starts with a plan, development strategy, goal, etc. Most traders and investors just read a few books and blogs and assume they can put money into it.

    Do you think like a successful forex, futures, and stock trader and investor?

    You have to believe that you deserve success even before you have it. This will help shape your decisions. When you start acting and thinking like a successful trader, then you become one.

    Do you trade without emotions clouding your judgment? Do you trade and invest like the boss you are trying to become? Are you calm and calculated without impulsive and irrational decisions? If not, then you need to start incorporating these practices into your daily lifestyle.

    How much discipline and focus do you have?

    To deserve trading success, you need to have laser focus and unflinching discipline. There is no success without these two factors.

    Wanting success doesn't mean being successful. Take Bruce Lee and his level of focus, for example, and adapt that height of focus. Just wanting it is not enough because nobody wants to fail, yet people do. Action is needed not only wants and desire.

    Remember that a man who practiced one kick 10,000 times is to be feared, not him who practiced 10,000 kicks one time.

    Conclusion

    What I need you to do now is to evaluate yourself and decide on the following honestly.

    • How are you going to go about building the right trading habits?
    • What can you do better?
    • Are you doing enough to earn the success you desire?
    • Are you part of the 5% who succeed, or do you belong with the 95%?


    It's okay to feel like you have some work to do. It means you have sincerely evaluated yourself, which is the first step to success.

    I can put you through lessons and training you need to succeed in the trading arena but the decision to be successful lies with you because I can only do so much – you decide how successful you want to be.