If you watch the video, you’ll hear it from the man himself: “The Most Important Thing [A Trader] Can Have Is Humility.”
And it makes sense.
In short, here’s why…
Have you ever experienced a loss in discipline after a period of consistently following your plan; of consistently doing the hard (but right) thing over what merely feels good and easy?
I know how it feels. I’ve been through that and it’s certainly discouraging to fall out of your good habits.
Being a good trader is about developing certain mental qualities. It is the process of constantly pushing yourself to grow stronger and better.
A profitable trader is not necessarily a good trader. Likewise, a good trader is also not necessarily a profitable one, yet a good trader ultimately finds himself with a much higher probability of being profitable/ of finding success in the long run.
Last month I just re-read Robert T. Kiyosaki’s classic book, Rich Dad, Poor Dad. This is a book I strongly suggest you read for its unique depth, especially when it comes to wealth building, money management, and attitude towards money in general.
In this post, I’m sharing with you 25 inspiring and lesser known quotes I found in the book that will help you gain insight into the way you think about wealth creation.
In short, here’s how: Every day, Do things that are HARD.
Run that extra mile. Read a few more pages. Take that cold shower. Meditate a little longer. Spend a little less time on your phone.
In everything that you do, Push a little harder!
Do your best, no matter what you do.
It’s not the markets that throw us lemons, it’s what we do with them.
Keep this in the back of your mind…
Now imagine you wake up in the morning and you witness a huge gap down in the market – way below your stop. The gap is so large that your trading account is reduced to rubbles.
I know… pretty extreme. But I’m just trying to make a point, so bear with me…
Ok, so you’re traumatized for life!