How are yous going to succeed?
After all, the WalMarts of the globe tin purchase inwards greater volume as well as negotiate amend prices amongst nutrient companies than yous could. You're non going to vanquish them on price.
The Wegmans of the globe tin cook supermarkets that are super markets, consummate amongst nutrient courts, java bars, as well as more. You're non sufficiently capitalized to vanquish them on variety.
The 7-Elevens of the globe tin locate inwards multiple locations throughout communities as well as behavior the products people most desire to purchase immediately. You don't convey the resources to vanquish them on convenience.
So what are yous going to do? If yous opened upwardly a small, generic grocery store, yous volition acquire a sure purpose of your anatomy handed to you.
I would struggle that starting upwardly equally a trader is no dissimilar from starting upwardly a grocery store inwards terms of the competitive dynamics.
You can't compete against the large institutions that convey huge property bases as well as tin brand coin yesteryear investing across multiple assets amongst a multifariousness of uncorrelated strategies.
You can't compete amongst organizations that pass millions of dollars annually on research, developing fast market-making algorithms.
If yous desire to brand coin inwards fiscal markets, you'd convey to brand coin the same agency you'd brand coin inwards the grocery business: yesteryear carving out a niche as well as beingness amend inwards that niche than anyone else. You'd convey to locomote unique--and you'd convey to locomote superlatively expert at what makes yous special.
DeCicco's is a regional grocery chain inwards suburban New York. What makes its stores unique is a focus on arts and crafts beer. They convey a large, well-curated alternative of arts and crafts beers as well as several of their locations convey arts and crafts beer bars inside the stores. DeCicco's also places bully emphasis on fresh foods, cheeses, as well as prepared foods. It's tardily to become there, convey a fresh pizza or prepared entree, sit down downward inwards the arts and crafts beer area, as well as relish a repast afterward doing your shopping. That sense cannot locomote readily duplicated yesteryear a competitor.
An independent trader similarly needs to notice strategies that are unique, that exploit opportunities inwards the marketplace, as well as that cannot locomote readily duplicated. Taking a generic trading approach to a crowded, competitive marketplace is a sure agency to non attain distinguished results.
Not all unique strategies win, but all generic ones, over time, fail. Markets are exactly likewise efficient to give awards to me-too's.
What is your unique border equally a trader? It's non plenty to tell yous convey bully motivation, bully intuition, bully nautical chart reading skills, bully key knowledge, etc. If yous can't explicate your specific trading border clearly--if person learning what yous do doesn't convey the reaction a starting fourth dimension time visitor to DeCicco's has--you are almost sure enough likewise generic.
In trading, equally inwards life, do something distinctive or do something else. Life is likewise brusk as well as likewise precious for me-too.
Further Reading: Finding as well as Focusing on Your Edge
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