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RE: What Makes Trading Unique as a Profession? [SPOILER ALERT IT AINT THE MONEY]

in #trading6 years ago (edited)

I can't agree any more with your writing. For me, becoming a trader and living out of it is much harder than succeeding at business.
When trading, you are alone, you can, of course, learn Technical Analysis; but at the end of the day you have to take the decisions on your own, let me tell you why:

  • On any business, there is always a responsible, be it the CEO or any other manager, who takes the final decision, but he/she can request advice from his team or take decisions on consensus.
  • In trading, you do not have to wait to see if you took the right or wrong decision, you get your answer immediately afterward.
  • You need to work very very strongly on your psychology on a completely different way than you do in any other thing in life. And that is key, as it represents 90% of your success.
  • There is no room for improvisation, whereas in business, sometimes that is key to success.
  • Finally, you deal with the toughest product in life. MONEY. Sure in business you work hard for that same goal but the distance of the monetary result from the day to day decisions make the business game completely different than trading.

First book I read and got me in?

Trading in the Zone, from Mark Douglas