Preparation

There’s a great post over at Invest2Success Blog about Winning Trader Traits which I wholeheartedly agree with and recommend reading.

I’ve discussed trader preparation before, and to the Winning Trader Traits post I would only further submit that the mental preparation involved in good trading is every bit as important as the physical side of being at the PC and studying results and methodologies.

The idea that “the great ones cultivate a work ethic that is superior to those in the good camp” is particularly true in almost every arena. Consider Michael Jordan or Tiger Woods or Lance Armstrong – three of the most successful athletes of our time. Although they may have had some talent to begin with, their desire to outwork their competition and prepare themselves for success undoubtedly elevated their skills, and almost certainly added the mental edge needed to compete and win on the highest levels.

Trading is the same way – a little talent helps but a lot of hard work and determination will definitely get you to the next level.

Jeff White
President, The Stock Bandit, Inc.
www.TheStockBandit.com