Not Portfolio Size, Experience, Natural Talent, etc. → It’s MINDSET.
Becoming a stock trader is no easy task. There’s a lot of marketing out there that tries to make it sound easy: “Make $3,000 in 5 Minutes!” or “Follow These Hot Picks For Easy Profits!”. But the reality is that it’s a process to become consistently successful on Wall Street. These “too good to be true” promises exist because people simply don’t buy products or services that sound hard – they want the easiest route possible. In the end, the most successful traders take full advantage of the ignorance and laziness of individuals looking for shortcuts.
The best services out there focus on education and research (not hot picks), but most people don’t want to put the effort into learning. It’s unfortunate, but that’s why so many traders end up failing. Everyone wants to be wealthy, but only a few are willing to do what it takes to achieve their goals. Studying is a huge part of that. Overall, people trade for all sorts of reasons and most of them aren’t logical. Many of them try to copy others or trade for the sake of trading (trading just for the “thrill”). That’s undisciplined. That’s gambling. When you stick to rules, stock trading doesn’t need to be risky. The only way to achieve success on Wall Street is to have the right mindset – a supreme focus on education and discipline. With the correct mindset, you’re more likely to profit than 99% of other traders.