Traders' StoriesTradingTrading Psychology
Survival on the market
The best traders I’ve met pointed to survival on the market as their main achievement. By studying their biographies, you can benefit in one particular way: you will strengthen your ability to adapt. Markets are changing and will continue to change, sometimes dramatically. Alternative data, big data and AI are coming into widespread use.
The best traders are defined by three key words: adaptation, proactivity and resilience. I’ve talked to traders who have more than 50 years of market experience. They started when orders were still placed over the phone with a broker.
Each of them has survived huge changes, not only survived, but was able to use these changes for themselves.
This is no small thing, most traders and investors, are not able to survive even a year on the market! And they not only survived but also tried to use the new that came along to their own advantage. And they succeeded.
Proactivity
Such an attitude is called proactive. They actively looked for the new opportunities that the change brought. They repeatedly changed their systems, tested them, refined them, learned new things about the markets and used this in their decisions.
They were constantly learning and continue to learn, as many of them are still actively trade!
What is a threat to some may be an opportunity for you. Try not only to survive on the market, but actively (pro-actively) take advantage of the opportunities this new thing brings.
The world belongs to people who learn. A system that “always works” is a huge rare thing, and at best brings only small profits. Set your mind on learning, developing your system and psychological advantage.
P.S. I have included my conversations with traders in the book Conversations with Forex Market Masters. You can get it here: ForexMarketMasters.com/conversations-with-forex-market-masters/
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