Sky's the limit
Someone asked a millionaire what his potential was for income. He was 46 years old and had no savings, but he did have $200,000 worth of equity in his house. The millionaire responded: you could be worth $50 million, but what's your commitment? Are you willing to put in 16 hour days for the next 20 years?
I think the same thing is true of trading. The sky is the limit for what you can achieve, but you have to be willing to put in the time. And the time must be spent doing appropriate things. For example, you could probably spend hours each day studying charts, etc. and it probably would have very little effect on your success. But if you are willing to spend a lot of time learning sound principles, working on yourself, developing a great business plan, understanding the big picture, and developing at least three great systems that fit the big picture. Well, if you're willing to do that, then you probably can take millions out of the market.









Comments
The factors you preach for trading success (this has probably been said before but it can't be overstated), are the exact same principles for any business success and life "success" for that matter. Which is why I still read your newsletter, etc. even though I hardly "trade" anymore. This makes sense to me because when you get down to it the only real variable to "success" is yourself. (profound, I know.)
Posted by: bruce | August 17, 2006 08:00 PM
My personal experience confirms that there is much truth in what you say.
Trading is such a strange job sometimes that you have to think about the possible scenario where you end up with your millions and wonder why you spent so much of your life heading towards such a destination.
Be careful what you wish for.
Posted by: Andrew | August 18, 2006 04:25 PM