by Gavin M.
I've been at this gig for quite awhile now. I would say I'm going on year number 15. Everyone dreams of being successful but few ever get there. I would like to share some thoughts on this thing called success. I am by no means an expert or a professional trader. I am just a guy who happens to get lucky more often than not in this manipulated mania called the markets.
So you want to be successful. Do you know what it takes to get there? Thought number 1: POVERTY and position in society is NOT a factor. How do I know this? I am the son of Swedish immigrants. My dad worked really hard to provide for me and my family. And, this is where poverty is not a factor. My parents came to the US with no more than $10,000 in their pockets. Somehow, my dad was able to make it work earning $100,000 a year whilst we settled in Northern California.
My parents did not have enough money to send me to college. So I took out a student loan. I had a part time job while I was going through college. I worked 21 hours a week while taking a full course load in engineering. This was not some piece of crap Sociology degree, this was Mechanical Engineering. Fast forward to that, I discovered trading and was able to pay off my student loans from trading. So, poverty is not an excuse. My dynamics professor once told me to turn adversity into opportunity. This is precisely what I did. I saw my struggles as something transitory. I saw it as character building if you like.
When we are faced with an almost impossible challenge, real, brave people attempt to conquer it not hide. Thought number 2: Laziness. People want to get to the success stage with as little work as possible. Most, if not all rich people will tell you that it never happens. Hardwork is an ingredient of success. It makes that achievement that much sweeter. But you are not going to succeed just dreaming about it. You have to work your butt off.
I see a lot of people buy self-help books and go to self-help seminars with these motivational speakers. What is the point of going to those if you are just going to listen but not really do? You can listen to them all you want but if you are not going to finally take the next step and do something, what's the point? Unless you are a drug lord or a drug dealer, you are not going to get rich quick. Unless you married someone rich, you're not going to be rich quickly. That is a fact of life.
Thought number 3: Pragmatism. Most people are told early in their lives that they can be whoever they can be. Well, I'm sorry to tell you Jim Bob, if you failed Algebra in grade 10, you ain't gonna be an astronaut. It is fine to dream, to have goals but you have to be realistic as well. There is a reason that there are so many of us traders but few of us are billionaires. It isn't always guaranteed that just because you are super good at something you automatically become the best.
Life is dull without challenges. Challenges are there for us to weave the fabric of our future. But the future, however, is made by not our hopes and dreams but what we make of them.
Traders from Equity Sense will be writing on this blog on positions and other market-related things.