“We Overestimate What We Can Do in a Day and Under Estimate What We Can Do in a Lifetime” – Tony Robbins
I commonly hear from traders who come into this business expecting to buy some program, spend a few months back testing, and become a professional trader. It doesn’t happen that way.
If we look at a coach potato who has a grand vision of becoming a marathon runner, he can’t buy a program, jog around the block a few times and run competitively in a marathon. That approach is unrealistic. What he needs to do is get out there and run. However, he can’t run 20 miles his first day either because if he does, he won’t be able to walk for two weeks.
What he needs to do is start running a very small amount and practice every day, gradually increasing his fitness level until he can run a marathon. Yes, this may take years, but that’s the only way it’s going to happen. In order for a person to train for a marathon he has to run consistently, but he cannot run excessively. Otherwise, he will injure himself and set back his progress.
Trading is the same way. You cannot expect to buy some program, do some back testing, place a few trades, and become a consistently profitable trader. It doesn’t work that way. Nor can you back test 40 years in 1 day and trade huge positions successfully. If you do that, you’re setting yourself up for financial and mental damage.
The reality is that it takes a lot of skills and mental muscle to successfully trade large positions. Skill and mental muscle must be developed gradually through consistent daily back trading and by live trading with small positions. This process may take years, but that’s the only way it’s going to happen.
You can be incredible trader, but only if you’re willing to put in the time and effort to consistently practice every day and trade at a level that is appropriate for your net worth and skill level.
For more information on becoming an awesome trader visit www.lockeinyoursuccess.com
John Locke
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One Comment on “Unlocking Your Full Potential: Overestimating Daily Output, Underestimating Lifetime Achievement”
This is the way! I began to play chess when when I was 6. Talented guys had good results after 1-2 years. But after 6-7 years I had won most of them by everyday work. Testing, learning, counting and using. After analyzed and began new circle..