Trading Educators Blog
"Once I’ve achieved success as a trader, then what? I’ve heard that after a while trading can become boring."
Question from a subscriber:
"Once I’ve achieved success as a trader, then what? I’ve heard that after a while trading can become boring."
I know you would all like to have that problem, but I can vouch for its being true. I always have to find new ways to trade or I do become bored. However, I have never run out of ways to trade that remain exciting, at least for a fairly long time.
After the objective techniques of trading (discipline, controlling losses, self-control, self-confidence, etc.) are mastered, the great traders have prescient insight and the ability to envision themselves and their methods as part of a higher realm where art, science, and markets become one with all life.
A friend of mine says it this way: "The great traders I’ve known have an enthusiasm for life. The word 'enthusiasm' comes from the Greek word 'Enthios' and means, 'God within.' Enthusiasm is contagious and causes men to rise above their abilities. Napoleon was known as the '100,000 man,' because on the battlefield his enthusiasm was worth another 100,000 men. Henry V was a brilliant '100,000 man' who lead his troops, outnumbered more than five to one, to startling victory at Agincourt, where over fifty Frenchmen died for every one Englishman. Great traders, scientists and artists recognize there is great art in all scientific endeavors, and there is great science in all artistic endeavors. Living one's life is the ultimate artistic statement."
Of course, you can always turn to helping others. There is a lot to be said for giving back some of what you have received in the way of good fortune. There is great reward and satisfaction in seeing another person make it as a successful trader.
© by Joe Ross. Re-transmission or reproduction of any part of this material is strictly prohibited without the prior written consent of Trading Educators, Inc.
Comments 5
For sure good trading is not exciting, because long lasting success comes from always doing the right small things day in and day out.
It is the preparation process which makes the successful trader. It is 90% preparation and 10% trading action, maybe less.
But let's try (as I did) to punch the clock as a white collar from 9 to 6 for fifteen years or so and then we can discuss about boredom.
I can guarantee that trading is not boring at all! :-)
Best
Jean
Great! You haven't reached that level yet, and maybe you never will. There's another item I haven't previously written about, but at this time in life it has become very important. You can outlive your trading abilities. I find myself knowing all I need to know, but having a very difficult time in actually executing what I know. Old age has slowed me down, and frustration is not the same as boring. I make far too many execution errors, which invades my confidence in what I am doing.
Wow... Outliving the own trading abilities looks like another gift of the Lord!
It should be the great cycle of the life.
I mean, at the beginning of the trading career I did a ton of execution errors.
I wanted to enter the market on the long side but I entered short, or I didn't pull the trigger because of hesitation, or I entered with a wrong lot size, or I didn't transmit the order... Probably if I am lucky enough it will come again a period of the life in which I will do a lot of execution errors again! Yes, it is very frustrating having a clear idea of what you want to do but not being able to put it in practice.
Not sure if this is applicable and if it can help you, but I solved a ton of trading execution errors with the help of technology.
I set up in my trading platform something like 20 or more keyboard shortcuts.
I can enter and exit the market with different sizes and order types with a single key.
I keep near my trading station a paper with all the keyboard shortcuts for a quick reference.
This is absolutely fast!
Best
Jean
Wonderful idea, Jean. Very helpful. Thanks.
You're welcome, Joe.
You helped me so much with your books, newsletters and the forum.
If this time I can help you in some way I'm happy!
Best
Jean