There are numerous tools needed and used by online traders, and they can be characterized as either mechanical or psychological. The mechanicals are obvious and straight forward. You need hi-speed internet, charts, a trading platform, and a broker. A volatile market condition also helps, but is not always present.
The second set however, are far more complex. They require constant attention and development. After all, trading in terms of player participation is no different than most high level sports. In this series we look at a number of these tools. The starting point is desire. Without it, nothing significant can happen. It exists in the traders soul in the same compartment as the need for love, family, and prosperity. Desire is a building block, and the basis of curiosity, ambition, and the need to succeed. It feeds dedication, overcomes discouragement, set backs, errors, and mistakes.
Desire does not stand alone. It is joined by perseverance, tenacity, and courage, aided at times by a massive stubborn streak. It is most visible in those with a personal cause, the entrepreneur building a business, the researcher working to find a cure, students trying to change the world. It keeps those sufficiently smitten from stopping. Giving up on desire is simply not possible.
Successful traders exhibit extraordinary levels of desire. The market tests all characteristics often, and without a passionate desire to participate and win, many of the other attributes are severly diminished.
Inspiration has helped all achievers rediscover lost desire. Traders are no different. Learning to recognize a threat to our desire, a reduction in the excitement caused by desire, is part of maintaining a balance in all our mental faculties. It takes practice and regular inspiration to achieve success and fulfillment of our dreams, no matter what they are, or how big they are. Dreams join desire in everyones life.
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