Trading With An Attitude
"The right attitude of course".
So many traders are quick to point out their weakness by simply speaking negative thoughts about the stocks they are trading.
Just last week I witnessed a relatively new trader profess the following comment. Well, now that I have exited the stock, it will move in the direction I was originally hoping for. This happens to me all the time.
My friend, you get what you seek. Right or wrong, if you call it that way, the odds are you will continue to be frustrated. Don't ask me why this is the case, it just is.
Not long ago I was watching a television program where participates can win money being on the show. This young lady who had just been introduced and ask what she hoped to win from the show got exactly what she was expecting. She had the same potential that thousands of other participants before her had; to have potential to win $1,000,000. Most of the past guest always answered the question as if they were going for the $1 million. Not this lady, she simply said she would be happy to win $100 to cover some of her cost occurred for getting to the show. The leader of the show could not believe what he was hearing. He tried to encourage her it could be better than that but she said nothing ever good happens to her. She went on to say that she has never won money and never expects to.
Well, to no surprise, this young woman went on to become the lowest money earner in that 30 min segment than ever before. Thousands upon thousands of participants over many years had come to the show and not verbalized the statement this woman had. She currently holds the record for the least amount of money ever won on the show. Could this be a coincidence? The answer is no!! You will get what you ask for sooner or later. Hers just came sooner...
You must approach the market with confidence, skill and possess a positive attitude or you could end up much like this woman. Am I saying to forgo learning and just be positive? Absolutely not, but you need a good mix of everything. To know and not to do is really not to know...
You need balance as a trader and a positive attitude is just as important as the skill you are attempting to master. Look at it this way, 95% of your time scanning the market looking for tradable situations is wasted. However, the 5% can make you wealthy or at the very least a comfortable living. It's the attitude of the people who scan 90% and get disgusted and just stop there. Success is just around the corner but they get negative just before the perfect stock floodgate opens up to them.
Become skilled, stay positive and watch your success begin to shine on you.
Sincerely,
Jeffrey Yates
Pristine Trainer and Live Chat Room Moderator
jyates@pristine.com
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