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Joe Peacock wrote:
>
> Norman, In a message on "Realtraders you said "And that only applies
> to the 5-10% of traders that have what it takes to be winners." I am
> fairly new to trading (1 Year in futures) and I would be interested to
> know if you have an opinion on what it takes to be one of the 5%.
NW: Here are a few qualities: Discipline, patience but the ability to
pounce without hesitation when an opportunity arises, perserverance
without being overly stubborn, the ability to be brutally honest with
oneself, an insatiable thirst for research with the ability to
discriminate so that analysis does not become paralysis, an unsinkable
belief in ones own ability to ultimately win in the long run, and
finally and perhaps most importantly to know thyself to the point of
being able
to manage oneself and make intelligent decisions accordingly.
> This is an honest request and I am not trying to put you in a corner,
> that is why I am replying to your post directly to you. I REALLY want
> to know what your opinion or the published opinions of others are
> regarding "what it takes" I am making money but not to the extent
> that I want and I would like to evaluate myself next to what others
> opinions are of what the 5-10% of the winning traders are doing.
NW: Most are not trading for the profits. They trade for the excitement
or to vent some neurosis. To paraphrase Wooody Allen's famous, "sex is
dirty.........if it's done right" trading is boring.......if its done
right.
> Thanks for taking the time to read this and I enjoyed you
post.
>
> Joe Peacock
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