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Trading—The Last Frontier
2 . Do You Really Want to Succeed?
For many years I had a friend whose wife was fat. She was an elegant dresser, and
she had been on a diet for as long as I had known her. She said she wanted to lose
weight and she didn’t eat cake or potatoes in front of people—but when I came into
her kitchen, I’d see her go at it with a big fork. She said she wanted to be slim, but
remained fat.
The short-term pleasure of eating was stronger for her than the delayed pleasure
and health benefits of weight loss. My friend’s wife reminded me of a great many
traders who say they want to be successful but keep making impulsive trades—going
for the short-term thrills of gambling in the markets.
People deceive and play games with themselves. Lying to others is bad, but lying
to yourself is hopeless. Bookstores are full of good books on dieting, but the world
is still full of overweight people
This trading article series will teach you how to analyze and trade the markets, control risks, and
deal with your own mind. I can give you the knowledge. Only you can supply the
motivation.
And remember this: an athlete who wants to enjoy risky sports must follow safety
rules. When you reduce risks, you gain an added sense of accomplishment and con-
trol. The same goes for trading.
You can succeed in trading only if you handle it as a serious intellectual pursuit. Emotional
trading is lethal. To help ensure success, practice defensive money management. A good trader
watches his capital as carefully as a professional scuba diver watches his air supply.
To understand full concept read in sequence from number 1.
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Make sure you don't miss the opportunity to learn and change.
