Of course, there are geniuses in the market, but the chances are one in ten million, or even one in a billion. We all want to be these chosen ones, but in reality, it's incredibly difficult.
From another perspective, let's summarize the common traits of traders around me who manage to profit consistently. They might not achieve godlike returns, but their steady income is sufficient for us ordinary people to draw lessons from.
Trait 1: Patience and a stable temperament.
Including traders in my previous team, all exhibit extraordinary patience, whether in daily trading or in answering students' questions, far exceeding my expectations.
Sometimes I ask them how they manage to be so patient without finding it annoying.
Their answer is that trading itself is a brutal process. If they can persevere in trading, what else could possibly challenge their patience?
Also, friends who have their distinct trading strategies and stable profits tend to be calm and patient. Disputes or competition over whose strategy is superior never arise among them because we all understand that strategies are personalized and need to align with our tolerance levels. Strategies are not about being superior or inferior; it's about profitability, and how much one earns depends on individual capability.
This trait of patience is crucial to trading. For example, those with trading experience know that identifying the right direction and entry point isn't technically difficult. However, in practice, very few can wait for the perfect moment and control their impulsiveness. A lack of patience is a common trait among many.
This is also a significant divide between losers and winners. Patience can be trained. One way is to learn to delay gratification, like reducing time spent on short videos, which are designed for quick satisfaction but can deter one from engaging with deeper content.
Hence, I recommend spending less time on short videos and more on reading deep content. Try delaying gratification for things you desire.
When feeling impatient or about to lose temper, remind yourself to manage your emotions. Keeping up with regular exercise like running, jumping rope, or swimming can help calm the mind, embodying the essence of "slow is fast".
Trait 2: Eager to learn and diligent.
The trading market has no barriers to entry; anyone with some money can start trading. But the lower the barriers in such industries, the higher the hidden thresholds. Many start trading without any knowledge of financial markets or technical skills, leading to losses.
The traders I know who have achieved stable profits are all avid readers. We have read most of the popular trading books and share common interests in philosophy, history, and biographies. Some also pursue personal development activities, like calligraphy or gardening.
Interestingly, most do not consider themselves superior but are willing to listen to others, learn from their strengths, and reflect on their weaknesses.
Those who excel in day trading are usually diligent, with few entertainment distractions in their lives.
Day trading demands energy, such as monitoring the market daily and planning trades beforehand, so they avoid staying up late.
With no one to supervise and no mandatory check-ins, trading relies on self-discipline. Without a diligent attitude, it's easy to lose initiative, leading to stale trading methods and growing disinterest or fatigue.
Trait 3: Reflective and able to detach.
I never thought being reflective was an extra skill until I realized many people prefer to have things handed to them, seek shortcuts, and follow the crowd.
Humans are social creatures, challenging to fully detach from society. Like the protagonist Ding Yuan Ying from "The Distant Savior," his independence makes him an outlier, able to detach and ignore worldly affairs. Yet, no one can deny his strength.
By distancing oneself from the hustle and bustle, one can think independently, from a global and objective perspective.
This requires courage and vision. In my early trading days, I enjoyed discussions and sought validation. But over the years, that restlessness has vanished.
The profitable traders I know possess deep insights. Conversations with them often reach profound levels, touching the core pain points of trading as well as life's philosophies.
Being able to detach from complex social ties and think independently is a rare quality. To others, it might seem odd, but we understand that right and wrong are relative. Earning money and living transparently is our truth.
Initially, I saw trading as a skill, but as time went on, I realized it's more about psychological warfare. Possessing these traits not only benefits trading but can lead to success in any field.
