How Bad Do You Want It?

Traders must be ready to become great. Being an elite trader must be important enough to you so that you do the work required to be special. Your mentor, your firm, your institutional bank or hedge fund cannot make you into a great trader unless it is important enough to you. I had a private conversation about a very good trader with a prominent trading coach. Puzzled, I asked why this trader was not yet great though off-the-charts bright and in possession of some serious trading talent. The coach cut me off and replied with frustration at me, “Mike, it is not important enough yet to him.”

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I have written in One Good Trade, and numerous blog posts pointing out that a trader must have something inside them that drives them to sustain the effort required to do the work necessary to succeed. I spoke at IU about how to become a successful trader. I wonder for the things we fail at (weight, relationships, trading, breaking bad habits) if it might be more helpful to admit that whatever it was that we just failed at just was not important enough to us. I don’t get paid to write posts for this blog. But I’ve been writing almost every day, sometimes three times a day for now almost four years. It’s important for me to share with the trading community. There is just something inside me that brings me to do this work daily. It’s actually something that brings me peace in my overstimulated world.

For those of us who trade professionally we know the work we must do everyday. If we’re not doing it we need to. If we cannot then maybe it’s because trading is not important enough to us. But if trading is your passion, keep in mind the clear path to success: Work. Practice. Effort. The daily grind. Everyday improvement. Ask yourself these questions:

1) Are you keeping a daily journal?

2) Are you crunching your trading stats everyday?

3) Do you work with a mentor who can help you improve as a trader/person like most great performers employ?

4) Do you review your trading via video like all football teams must to improve?

5) Do you talk with other traders to improve your game?

6) How is your diet and exercise regimen?

7) Are you doing the things necessary to get better today?

This can all be distilled down to a single question:  how bad do you want to become a great trader?

You can be better tomorrow than you are today!

Mike Bellafiore

One Good Trade

The PlayBook

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11 Comments on “How Bad Do You Want It?”

  1. Mike,
    I am interested in video taping myself for training but I am not sure the best way to go about it.  I have used Camtasia and I have a pretty powerful computer but I feel I cannot trust that software running on my trading platform simultaneously.  Would it be better off if I just run a seperate camera?  How do you guys run video in your office?  Also do you keep records or do you delete after reveiw?  Thanks, great book by the way, learned a lot.

    -Mike D’Acampora

  2. you can video yourself.  i know anecdotally of a great trader who does exactly this.    that might work well for you.  we record our screens and then watch back as a group in our SMB Tradecasts.  

  3. Will-power alone is not enough…you have to enjoy it. Also do´t know any elite performer that does not get enough sleep. So…do something yu enjoy….and get enough sleep! 🙂

  4. Just found my new pre-workout video. Really loving these motivational post as of late.

  5. Great post! Bella, reading the books u talk about in ur blog, in your book “One Good Trade”, and in ur IU and GT video presentations (Drive, Mindset, Flow, Talent is overrated, etc) will not only help traders but anyone trying to discover what’s important to them. It has def helped me in my development and given me a laser focus on my goals for constant daily improvement. Thank you!

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