The reasons I used to open charts included, but were not limited to:
1. I wanted to be rich
2. I wanted to be really rich
3. I wanted people to think I was awesome because I was rich
4. I wanted to reach the pinnacle of all things human and be the highest form of being ever conceived…. TRADER!
But is that really the goal?
So recently I had this epiphany about trading and I refer to it as the student and the thief. What is the difference between the two? They both want a positive outcome for themselves which normally amounts to a greater amount of possessions, whether material or otherwise. The distinction is not the desired outcome, the distinction if the process with which they choose to go about achieving those ends.
Lets look at the thief. This was me at the beginning of my trading life without question. I not only can relate to this position, I may have created it. The basic defining characteristic of a thief is that they want to gain value without having to give any value in return. A thief wants to take money without earning it, one way or the other. I was always a thief because I wanted to take from the markets without earning it. I naively thought I could do the bare minimum and receive the most reward, just because that’s what trading was about to me. I am ashamed to admit it but I was lazy and I wanted to use every possible means to feed my laziness and bypass the hard work. Have you ever done that? Put more work into avoiding the real work than if you just would have buckled down and done the right thing in the first place? But there is another way.
Now a student is different. A student understands that all learned processes are profitable. A student strongly desires to put the work in on the front end and develop the process that will always yield results every time they put that process to work. A student desires no financial gain without being accredited with the accomplishment of achievement first. A student believes process trumps outcome… EVERY TIME!
How to be a student and not a thief? Next time…