on exchange floors and on trade desks, had certain
repeatable traits that all level traders can learn, or take something from;
Empathy and the ability to listen.
Faith in their own ability to get things done, if life and
in work.
Humility, and a willingness to accept defeat as graciously
as accepting success.
Desire to work towards, and not to just expect, having more
success than defeat.
They listened more than they spoke. They had two ears and
one mouth and had learned to use them in the right proportion. The ability to
listen, either to a mentor, to your inner self, or to the market, is critical
for success.
They had an undying faith and belief in their own ability,
and accepted that most things that went wrong were probably outside of their
control, because they planned their work. Their brutal honesty with themselves
and with others allowed them to develop a faith in their own ability that was
beyond the norm.
They were humble, and understood that they were not smarter,
stronger, nor wiser than others; they just knew that there were few others that
had more faith in their own ability to follow something through and to achieve
their goals.
They had faith that they could get it done, and humility to
accept defeat; that is what defined them, and usually defines any great trader.
The great ones in life, and on the floors, are the ones who are not susceptible
to the negative influence of others, they have a goal, they have a plan, and
they will get there. It may take time, they may fail along the way, but they
just will not let things overwhelm them as they plot their course.
Successful traders have a plan that they refine, develop and
test, and debrief on a daily basis. They share their plan as a work in motion,
and not as the Holy Grail. A successful trader accepts that there is always
something new to learn, and however good the plan is today, there will be the
chance to improve it tomorrow.
Zig Ziegler says; "You are working with no plan? Why?
Working without a plan is about as difficult as trying to come back from
somewhere that you have never been". You will become profitable if you
achieve success, but success rarely comes without a plan.
Success is not counted in cash; success starts with an inner
faith, the ability to listen, and in having a plan.
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