I’ve read and heard many traders describe their path to success. I download and listen to the Money Show’s Trader Talk Podcast with traders interviewed by Tim Bourquin. He interviews different traders about their experiences, and I glean something from each one, even if the person is not a Forex trader.
With each trader who is interviewed, I’ve always wondered why it is so hard for them to answer the question of how long it has taken them to become a successful/profitable trader. When they are asked and answer, they give a vague reply. I’ve come to the conclusion that most of the traders he interviews are selling something and I think if they would truly reveal how long it took them to be successful, they would never sell their programs/services.
I had a former student (I’m a full-time high school teacher) text me the other day about starting to trade the Forex and making money. We exchanged a few texts about it, then I sent him a text indicating it is a very difficult endeavor, and it would take him hours and hours of practice and several years to become successful. He never responded to that last text.
This coming October 2012, will mark 5 years of trading for me. I consider myself part-time because I trade every morning 5:30 am to 6:45 am. Besides the trading time, I have put many more hours into learning the skill. I am still not successful, winning and losing trades–losing more than winning. I get frustrated and angry with myself, wanting to quit. But when studying successful people I have found that in most cases, it’s not some magical talent they have that makes them successful. No, in most cases they have paid the price of practicing for hours at their endeavor, not giving up when they failed.
I guess to sum this post up, although I am not where I want to be in trading, I’m not going to let failure ruin my chances of success. I have committed to making trading a life-long endeavor and I know I will eventually succeed.