I'm at a trading theater in addition to walk over to Trader G. to reckon how he's started his day. He's been inward a prolonged slump, losing coin far to a greater extent than days than winning. Here's what I observe:
1) Trader G. was piece of cake arriving to the role in addition to didn't receive got fourth dimension to laid upward earlier sitting downwards to trade. He didn't accept fourth dimension to laid upward 1 time he sat downwards because "I don't desire to missy a move."
2) I inquire Trader G. what he idea of the recent moves inward involvement rates in addition to how those mightiness behaviour upon stocks. He didn't know what I was talking about. He hadn't read the intelligence reports or looked at the charts.
3) I inquire Trader G. whether he thinks the marketplace set is leaning bullish or bearish based on what the sectors are doing. He speedily looks to reckon what sectors are doing; he hasn't been tracking those.
4) Trader G. is long the market; when I inquire where his target is, he begins studying the nautical chart looking for a level.
5) I inquire Trader G. for a await at his trading journal. Sheepishly, he tells me that he hasn't written inward it lately. When I await at his latest entries, they are curt paragraphs describing how he should survive to a greater extent than patient inward his trading. There are no specific goals or assessments of progress toward goals.
If you lot inquire Trader G., he'll enjoin you lot that he has a dearest for trading in addition to a passion for markets. He wonders, amongst all that motivation, why he's non making money. I wonder why he thinks he perhaps *could* succeed. Trader G. is fictional, exactly he could survive whatever of scores of traders I've encountered inward my coaching work. Desire is necessary for success; it is non sufficient.
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