Find a Sound Strategy and Stick With It
Most
traders hope to achieve big success in the stock market, but the fact is few do.
Over time most investors realize only mediocre results at best. There are a few
major reasons for this lack of success.
The first reason is obvious; most investors don’t have a winning plan or a good role model to begin with. They have not taken the time to study and understand what really works in the stock market, so they end up listening to someone else, usually someone who never had big success in the first place.
But, here’s the real problem: Most investors even if they had a winning plan wouldn’t follow it. Oh sure, maybe they would follow it for a while. But, eventually, if things don’t work out as expected, they give up on it.
99% of investors have unrealistic expectations; not with how much they can earn, but with how it will be achieved.
The stock market offers the opportunity for virtually unlimited reward, however, it's not easy. Therfore, you should go into trading with the attitude that it’s going to take a great deal of work over an extended period of time.
At some point, you WILL feel like quitting. At some point, you WILL feel like your strategy doesn’t work anymore. At some point, another strategy WILL entice you.
But, how could you get good at something if you quit and look for something else every time the going gets tough? No strategy works all the time. In order to be a flower that blooms in June, you can’t be a flower that blooms in May.
Have big long term goals, but realize that you must specialize if you want to be a master at something. Specialization means sacrifice.
There are always a myriad of ways to become successful and anyone of them could change your life, but you have to choose which one it will be.
Mark Minervini
The first reason is obvious; most investors don’t have a winning plan or a good role model to begin with. They have not taken the time to study and understand what really works in the stock market, so they end up listening to someone else, usually someone who never had big success in the first place.
But, here’s the real problem: Most investors even if they had a winning plan wouldn’t follow it. Oh sure, maybe they would follow it for a while. But, eventually, if things don’t work out as expected, they give up on it.
99% of investors have unrealistic expectations; not with how much they can earn, but with how it will be achieved.
The stock market offers the opportunity for virtually unlimited reward, however, it's not easy. Therfore, you should go into trading with the attitude that it’s going to take a great deal of work over an extended period of time.
At some point, you WILL feel like quitting. At some point, you WILL feel like your strategy doesn’t work anymore. At some point, another strategy WILL entice you.
But, how could you get good at something if you quit and look for something else every time the going gets tough? No strategy works all the time. In order to be a flower that blooms in June, you can’t be a flower that blooms in May.
Have big long term goals, but realize that you must specialize if you want to be a master at something. Specialization means sacrifice.
There are always a myriad of ways to become successful and anyone of them could change your life, but you have to choose which one it will be.
Mark Minervini
