Becoming A Successful Trader.

From Greg M

Lions.. I want to share something with you. The excerpt below is taken directly from my book, A (NOT) So Random Walk On Wall Street page 5.

Read this small section below. I believe it is important, and should help you towards your goal of becoming a successful trader.

Becoming a successful trader means developing the right mindset, which is something that can only be accomplished with the right teacher who is willing to share what they have learned by experience. There are two types of “smart,” book smart, are real world smart. Real world smart only comes from experience and is invaluable, especially when attempting to be successful in complex situations. Yes, book smart is important! A person must have a strong fundamental understanding of the principals and theory of any given subject to make the practice of it produce successful outcomes, but here again, there is absolutely no substitute for experience. I am going to let you in on a secret right here at the open, trading is both a science and an art, and whomever can bring the two parts together better wins. The science aspect of trading is the easy part, just follow the data, along with the principals and theory. But the art aspect is more complex. The art of trading develops over time and comes about by understanding the fundamental drivers of the market IN PRACTICE, or how they work in real life- we will cover this in some detail later in the book. At an extremely fundamental level, understand that every single trade involves two participants, there is a buyer and a seller, and each is competing against the other attempting to have a successful trade outcome, and every trade is the same. Whichever trader, either the buyer or seller, who has a better perspective on what is going on regarding understanding both the science and the art aspect of trading at the time the trade is executed will win.

I hope you get something out of this.

GM