What is it that really separates the successful from the failures? The key attribute…
I’m certainly not the first to have wondered. It’s something I think about quite a lot, in all walks of life.
There does seem to be a consistent pattern though, among the successful…
Eddie the Eagle…
Earlier this week I was chilling out, watching a little Netflix when I come across a film about ‘Eddie the Eagle Edwards’. I’d heard of him as a kid although didn’t know that much as it was a little before my time.
It turned out to be quite an amusing watch, but one thing really struck me. Much like many other success stories you hear about; the guy was relentless. Against the odds he persevered purely because of his delusional belief that he would make it to the Olympics. It’s the one trait that all successes share. Some are wilder than others, like Arnold Schwarzenegger or Steve Jobs but it’s a requirement to succeed it seems. On a far smaller scale, but it reminds me of when I first committed myself to trading the betting exchanges. It felt as though the whole world was against me, I honestly can’t remember anyone saying ‘go for it’ except myself.
Anyway, if you’re partial to the odd film it wasn’t too bad.
The Moon…
We can all see it, we know it’s there, but not everyone get’s to touch it!
When someone recently described trading like this it did make me laugh. Maybe it’s just the mental image it projects but it holds some truth. Personally I truly believe everyone has the chance to touch it. If you knew my exact course in life I’m sure you’d believe it too!
The thing is; with that persistent approach mentioned above, and the will to learn along the way, there’s absolutely no reason why it’s not possible. Helping others on the way has become quite satisfying too. It’s mad to think I initially started this website just to keep track of my progress, and then eventually to try to re-coup some of the dreaded premium-charge.
If you missed the last post; I’ve given out a few gifts to get followers off to a smoother start… it’s not a huge amount, but it’s something. There’s more next month if you want to check the link below!
Related Article: Free Subscriber Give-Away
4 thoughts on “Persistent Failure To Permanent Success”
Great article. Each person has a different learning curve, but the key to touch the moon is persistence. For me trading is like to catch a fish: you can use the right rod at right place with the right bait.. and go out with empty hands.
Daniel
I think a lot of people (myself included) when they start trading, see seasoned traders making decent money and forget that, they too, didn’t know anything at somepoint.
Coupled with the fact we live in an age where everyone wants success quickly, it’s no surprise people struggle.
In Market Wizards, Tom Baldwin mentions that he learnt to trade by just watching the markets and after a while, he would see the same scenaris over and over again.
One of the many lessons I’ve learnt, is that it may take a year until I’m profitable but if I stick at it, the rewards will be worth it.
Right Everyone!
Everybody has its own character mindset, approach u name it.
Do not know about u guys /girls but its all about me this time and for some time its always kind of been. U can think me me me. And yes it is about me. M 34 will move to Poland (where m from -have 3 wonderful children, sold house here, been 12 years-bla bla bla). Was involved in gambling industry for few years, first typical gambling like u all did I think, then realised that bookies have a lough “fixed odds sports betting”good read – so was taking only price that were removed too late – in return I was limited /removed very soon from their profitable list – thinking what the hell?. Trying to find the back door I found on internet a guy called Warren Buffet and was amazed from first clip- gone a lot through finding The SPORT MARKETS and I though this is for me surely. Yes my mindset is not ready quite yet for conscious trading. I do errors like overstaking or trying to be involved in every market tho football, horses especially when I face a lose for the 3rd time in row ( I konw chasing) even tho that i know that its a random distribution between loses and wins for any given edge. I do learn every day ( i would like to think) even if job is kind of not allowing me to (night shift – really bad with sleeping and being open-minded during the day after 5-6 hrs of sleep ) but one think I know M doing better and better looking at P/L ( still under ) but I I know – I feel it deep inside that I’ll get thru eventually I get it done if u could describe like this. Never mind the bollocks m going thru sometimes but I guess its a learning process. All I do is focking sleep 5hrs a day to be available to the markets .
All I do is think about this trading and new better approaches of my own spectrum to find optimal option from trading perspective, read zone as some would like to call it. I am tired I am trying I am learning I am motivated I push myself to madness sometimes that only little thing inside me knows that I should keep trying not giving up because its only way to achieve what I want to ( steady peace of mind to trade profitable) – everything else will come along . So I see u today- realy (coz its 5:00am in the morning 10/8/16) in the Salisbury market 🙂 and again as recently (still green) I will be waiting watching u guys prior my entry 😉 lol.
Have a good trade, bye
If you want any chance of winning you need to become efficient Rafal, unfortunately just being enthusiastic won’t get you anywhere. You’ve got to start thinking about edges and why they occur, they’re usually quite obvious too once you think about it. Every market is different so stop trying to learn them all at once as the ideas will just overlap and confuse the issue. Take them one at a time, as soon as you have an edge on racing move onto football, being a jack of all trades isn’t usually too profitable in sports trading. Lack of sleep won’t do you any favours either it’ll just slow your progress.
I was probably the same when I first started , far too many ideas and markets played but once I sat down and actually watched and thought about it rather than jumping in every market it started to fall into place. I don’t make a fortune from each market I play, but I am consistent and manage to average £10+ a race. Might not sound much a race but with over 400 win and place markets a week you can wait til the oppurtunity arises and it soon adds up.
Take a step back and focus on doing one thing right at a time, then move onto the next. It may be something as simple as teaching yourself not to chase or go in running etc but learn them one at a time. You really need to take the focus off winning and money at the start as it just clouds your judgement , play in pennies if it helps. Stop overcomplicating things too, all the succesful traders I know have very simple methods to idenitify moves, it really isn’t rocket science. Good luck.