In order to succeed in CONSISTENTLY making money in trading, you have to become a leader. The charts will have no mercy, don’t show emotions, and will do whatever they want. A follower will lose against the charts.
So what does it take to become a leader? What characteristics should a person have to become a leader? These are some of the questions that people ask when we bring up this topic.
The final stage for a test I perform with my active students is as follows:
I get my active students to start to teach. During the teaching process, you are around various students. Each student is unique and has different obstacles to overcome. Therefore, there is a lot of “bad karma” within each student that the teacher has to help remove. The “bad karma” could be from being impatient, not being humble, greedy, etc. This is all to do with psychology of trading. Obstacles that will stop the student from learning and getting to a level where they can make profits consistently.
During the teaching process, the question is how will all this “karma” from the students affect the teacher. One of three things will happen which will also reveal if the teacher (active student) is a true leader or not. Here are the outcomes:
1. The karma will affect the teacher to a point, his/her trading is affected. In this case, the karma won!
2. The karma is ignored and the teacher is moving forward in their trading as normal.
3. The karma ignites the student to a point they reach another level in trading?
So which one of the outcomes shows signs of a true leader. The ANSWER is 3. Why? A leader will learn to take negativity and use it as a “fuel”. The negativity served as a challenge for that leader. If you study any of the leaders in the world, you will notice this in each leader. During the bad times, they succeed because they take the negativity and turn it into some positive!
In life and also in trading, which one are you?
- When you make a mistake, does that ignite you to become better or make you depressed?
- Do you admit your mistakes and think of them as a learning experience or do you make excuses?
- Do become depressed when you have not made money for awhile or think that an opportunity is about to come soon?