dredude52
 |
There is no get rich quick scheme, there is no pot at the end of the rainbow.
If you're talking about investing or trading, like any vocation, it takes hard work, lots of study, and the testing of your theories, learning what makes you tick, learning your own particular time and stress levels, and fighting the emotions of fear, greed, and loss of hope.
Most traders spend their entire time looking for the Holy Grail of indicators, and that's why 85% of all traders fail.
Your success or failure lies within you, not some indicator.
Part of being a winning trader is constantly developing new methods, constantly improving, constantly learning and becoming more humble and forgiving, and constantly fighting our fear and greed. I had a killer indicator that worked very well for seven years, then it just stopped working. A winning trader is open minded and constantly aware of these changes, rather than closed-minded saying "nothing works."
People looking for the magic formula will find that TA is too much work. The secret lies within each of us, while a lot of indicators will improve your odds. We each have to find what works for us. If we were all Technical Analysts, it would be a very difficult business indeed.
One of the most important Samurai texts ever written, by Miyamoto Musashi, “The Book of the Five Rings (1643)”, offers this advice: “Think of what is right and true. Learn to see everything accurately. Become aware of what is not obvious. Be careful even in small matters. Do not do anything useless.”
There can be no great success in trading (life) without great commitment, hard work, discipline, and the realization of the “right” type of thinking.
It is the trader’s attitudes, beliefs, and discipline that ultimately yield results. Courage and positive attitudes combined with sound market principles and methods will, in time, result in the desired outcome. Your persistence and determination to succeed is, in the final analysis, the critical element.
It is not the passion for money that makes people rich, but rather the passion for mastery. |
bigmissle
|
Unless you have parents, friends, or other family that suddenly give you a chuck of cash, or unless you win the lottery, and unless you are "willed" a lot of money, it is unethical to think you can "get rich quick"...unless you turn to the illegal aspect of your question. |
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