Every athlete. Every doctor. Every trader.
They all go through certain phases and bring certain qualities before they become masters of their field and can be called successful. This is precisely what the following article is about: How do we become masters in trading? Robin Sharma speaks in this context* of eight qualities, which I will now introduce you to.
Quality 1: Commitment and Desire
What is your goal? Is your desire to achieve this goal big enough? Is it really worth changing things and overcoming obstacles for this? If so, it should be easier for you to take the necessary steps. Imagine what it looks like when you achieve the desired goal (such as becoming a consistently successful trader). How does your life change? How does it feel when you finally achieve this goal that is far away?
Quality 2: Knowledge and Instruction
Once you are sure what you really want in the future (such as becoming a consistently successful trader), your decision for the following steps has been made. To achieve your goal, you must first know how to achieve it. At this point, there is good news. There are always people who have already succeeded and made all the mistakes before us.
Talk to people who are already successful in your desired field. What did they do to achieve their goal? Read the same books, take the same courses, and complete the same routines.
Quality 3: Kaizen & Constant Training
Kaizen (Japanese: change for the better) refers to both a Japanese philosophy of life and work and a methodical concept centered around the pursuit of continuous and infinite improvement. The improvement takes place in a gradual, punctual perfection or optimization of a product or process.
The Kaizen philosophy teaches us to constantly improve. Who can stop us from achieving our goal if we constantly get better? No one. Those who do not achieve their goals often stand in their own way and expect success too quickly. Instead, we focus on small but daily progress and constant training. All successful traders practice regularly. Professional footballers also start every training session with seemingly simple passing games.
Through this consistency, we form new habits that we perform completely automatically step by step. What may have seemed difficult and exhausting at the beginning now becomes an integral part of everyday life and easier and easier.
Quality 4: Persistence
Every path will bring its hurdles. True success was born in these hard times. Who enjoys dealing with the financial markets after losing money that day? No one. But only those who do will be sustainably successful. No matter how difficult the road may seem, you just keep going.
When I started trading in 2012, this was my great strength. I told myself: No matter how long it takes, I will continue until I trade profitably on a consistent basis. Ultimately, who cares how long it took if you can lead a fantastic life from then on? Whether one, two or seven years: ideally, we can still live off the ability for decades.
Quality 5: Raise Your Standards and Go Further!
Have you ever met successful people who rested on their laurels? Study Steve Jobs, Bill Gates, Warren Buffett, and other successful visionaries. None of them have stopped. You are satisfied that you win on three out of five trading days? Set yourself a next intermediate goal and work on winning on at least four out of five days soon. There are always opportunities to get better. Don't rest on your laurels. Go one step further than your competition. This quality will also soon become a habit in your life. You raise expectations and can thus maximize your quality of life in all areas.
Quality 6: Every Teacher Has Teachers
Always be open to new input. Even the best traders have mentors who in turn have mentors. This is exactly where I was too closed at the beginning of my personal trading career. I was too selfish. Only when I realized that I could learn a lot from others could I really learn! Meanwhile, I have a large network of international traders, which makes me even faster and better.
Quality 7: Have Fun and Enjoy the Process of Becoming a Master of Your Field
Every path is hard enough. Becoming a consistently successful trader is not easy. Only those who heed the above steps and qualities and go through them with joy will succeed. Enjoy this path. Don't just focus on the goal, but live in the moment and get a little better every day. This way, you will reach your goal much faster.
Quality 8: Share Your Knowledge and Help Others
In my case, I share my knowledge with you and a multitude of students at WirmachenTrader who go through our training programs. Within our community, we have many members who support each other just as well. This way, everyone can apply the knowledge they have acquired and teach it to other, newer members. Of course, in this context, it is always ensured that the quality exactly meets the requirements.
Helping others is a great motivation for many of our students. Some want to help their families. This can be of a financial nature; more time for the family is also often mentioned. Whatever it is, we all have reasons for doing what we do.
Conclusion
Successful trading means taking responsibility for our lives. It is important to be aware that success in trading does not come overnight. The path is hard and will be long. But if you choose this path and work hard towards your goal, you will eventually reach your goal sooner or later. My own personal experience shows that you can radically shorten the time you need. You can take a shortcut, so to speak, if you are open to input and help from the outside. It also helps you immensely if you surround yourself with like-minded people to maintain the necessary motivation when problems arise and the goal seems to be far away.
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