Many are taking time this week to reflect on the past year and to set goals for the upcoming year.
I have never done well with listing out goals or even physically writing down my trading plan.
It is not that I do not have a plan or set goals for myself to achieve.
The fact is that I am in a constant state of reflection and goal setting. Every single day.
It is all in my head and it never shuts off. This makes it difficult for me to live what most consider a "normal" lifestyle.
My life is my fight to be a better trader and accomplish what I set out to accomplish.
This will not change until I get where I am going.
As for reflecting on 2009, it was a year that challenged me more than I could have ever imagined.
I have had several crushing defeats over the past year as well as some major victories.
It is hard to measure success this early in a trading career because gains can be lost and ability can be turned into unlimited wealth.
I have either given up or lost almost everything while pursuing my passion of trading. Friends, family, relationships, assets, stability, and so on.
My trading journey has led me to move half way across the country and start over in new area for the second time in my life.
I have ended old relationships as well as began new ones.
This may seem like a dark post (trading can put you in a dark place sometimes), however, this is what it takes to make it in this business.
Anything less will not cut it. I hope everybody understands that. It was not made clear to me until I met a real trader face to face.
I am going to leave this year feeling stronger than ever and confident that I will do great things in the upcoming months.
As ambitious as I am, probably more than I could have imagined just one year ago.
The one thing that is common amongst all successful traders I have met, which is not many, is that they have all overcome great adversity.
Specifically, they have all had at least one devastating blow (most have had several) in their career that was a defining moment and they were able to work through it and move on.
I have had some moments this year, while onscreen or at the end of the day, that were indescribably awful.
I wish I could explain but those who have not had these moments will not understand and those of you reading who have know exactly what I am talking about.
It is through this process that one becomes a real trader. You will not be a trader without it.
I feel that through all the hard work and sacrifices that I have made this year I have forged a great skill that can never be taken from me.
I have something that is extremely rare and powerful that has grown along with me over the past number of months. It can either allow me to earn everything I have ever wanted or ruin me.
I have had it for some time but am just now starting to apply it properly. My success in the upcoming year will be determined by how I apply my skill and how much perseverance I have. Period.
I am going to make it or fight until the end.
So I consider this year a great success because I will close out the year understanding exactly what I am doing and where I am going.
I still have a long way to go. Further than where I have come from.
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Hey Brian,
ReplyDelete"...I have had several crushing defeats.....as well as some major victories.....I have either given up or lost almost everything while pursuing my passion of trading. Friends, family, relationships, assets, stability, and so on....I have ended old relationships as well as began new ones....
SAME HERE! But importantly:
"......I consider this year a great success because I will close out the year understanding exactly what I am doing where I am going....."
Cheers Adam
Wow, gutsy post. I know exactly what you're talking about and reading your post is exactly what I needed just now. Thanks.
ReplyDeleteWow! Took some B***s to write that. Congratulations!
ReplyDeleteFor anyone to even make a start in Forex then you have to see through the glitsey trash that promises easy money. I read somewhere that it has a 95% drop out rate and I can believe it.
I have the view that 'micro' accounts starting at a couple of hundred dollars are an invitation to loss and discouragement. The prices can go anywhere and at anytime irrespective of technicals or fundementals. There are bodies out there playing with quantities that most of us wont make in several lifetimes and the loss they take on an exchange is more than compensated for in whatever it is they might be buying into with that money.
Lets face it : Home based oiks like myself are catching scraps off the table. I can make/lose a couple of hundred today but its nothing compared to the billions that are being moved.
I used a practice account for nearly a year before going live. Been live for three months and I consider myself to have done well by breaking even. I say that even though I know of a local guy that has doubled his initial investment in the same time.
2009 was NOT a normal year. The prices seemed to follow their own sweet way despite technicals, fundementals or apparent sentiment. Either that or I misread everything.
Where will the prices go? The true answer is : 'Somewhere over there.' Its a big 'over there' as well.
Failure is when you give up altogether not when you make a couple of losses. Stupid is when you knowingly make the same mistakes. Being wise is stepping back and working out why trades didnt work or why they were missed.
Done a lot of work only to find myself where I started. Am I doing something wrong? Of course I am! Im stuck on a roundabout instead of cruising down the autoroute.
Will 2010 be better? I believe that the markets will get closer to what was once considered 'normal' in their behavour and thus give an edge (only an edge) in terms of predictability.
Im still enjoying it despite the lacklustre results. I can do better. I will do better.
Thanks Brian, from a comrade.
ReplyDeleteits is very hard for you but positive thinking all the time is the key to success, am a novice in the market and trying to learn from people like you out there who had a lots of bad and good experience and sharing them make us strong to face the trend and be successful to achieve our goals
ReplyDeletethank you for this post. It helps to know that I am not the only one that went through a wall of fire to be in this business
ReplyDeleteAnonymous says that "positive thinking all the time is the key to success". While I believe there's a lot of value in that, positive thinking to me is a technique helping to stay on the road to consistent profitability.
ReplyDeleteThe real key to success to me, is one's will. One's inner drive that pulls him/her through challenges as tough as they can be in one's life. Those challenges are filters that are responsible for the 95% of dropout rate, since I believe less than 5% people, for whatever reason, posess that inner power and will to continue despite the toughness.
I am one of those people. I just KNOW I won't stop until I make it. I feel it inside me - it's hard to describe if somebody can't imagine this feeling.
All the best to everybody in 2011.