But what stops most potentially very good and future successful traders in their tracks and succumbs them to becoming yet another statistic in the 90% group, has nothing to do with trading itself. It has everything to do with quitting before they learn how to be successful at it! Simple concept right? Let's dive deeper though to fully understand why there is such a huge discrepancy between successful and unsuccessful traders.
Professional trading is a skill set like any other, and the more it is practiced, the better one becomes. It's difficulty can even be likened to that of building a traditional business. It often takes years of perseverance, education, and trial and error before true and consistent profitability is achieved. The problem with many traders though, is they come into the market with dreams of striking gold and becoming millionaires in their first six months of trading.
Unfortunately, they learn the hard way that this notion is merely a pipe dream and doesn't happen nearly as often as some gurus say, if at all. After many months of losing thousands of dollars trying to make their quick millions, they realize that trading is not as easy as they thought and they quit with a negative attitude about the market. To make themselves feel better about their losses, they attempt to justify their negative experience in a variety of different ways: trading is just gambling, none of the trading systems worked, or it's not in the trader's astrological chart to be successful in trading. These rationalizations only serve to further develop the unsuccessful mindset the trader now has and decreases the likelihood that the trader will ever succeed at trading.
Now of course, with the right mentor, a trader can shed years off of his or her learning curve and achieve consistent profitability faster than traders without a good mentor. However, the type of mentor who can provide such results often doesn't promote the glamour of fast riches because he or she is rooted in a much more realistic approach to trading. This doesn't appeal to many people, as they are drawn to the quick and easy solution, which doesn't exist in the real world, so the mentor is often overlooked.
But what people miss about trading, is that even though slow and steady wins the race, that doesn't mean you can't make exceptional returns consistently and with high probability. Once the principles of professional trading are adopted, like discipline, non-emotional decision-making, and developing a winning trading plan, the trader then has the capacity to achieve his or her financial goals much faster than many other forms of wealth-building.
Like anything else worthy of achievement, it takes dedication, patience, and hard work to obtain the status of a professional trader. Trading is a fascinating intellectual pursuit and will challenge everything that defines you as a person.
Once you realize that it is you who controls your consistency and success, and not a trading system, or anything else outside of you for that matter, you are well on your way to achieving the fortune you seek. Keep learning, do not quit, and the light at the end of the tunnel will begin to emerge.
To learn the principles of professional trading and to discover a simple yet very consistent and profitable trading strategy, click on the link in the article and sign up for the free MacdMastery Weekly Report.
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