When attempting trading, you might ask yourself a question: How much money can one make in a day of trading? Can full-time trading achieve financial freedom? Clearly, these questions have always been among the most common in trading.
Deep down, every trader harbors a dream—to make enough money in the market, then build a quiet courtyard in a serene seaside town; to watch the seagulls chasing the waves at sunrise, and to watch the waves lapping the shore at sunset, retiring in peace.
Over the years, having witnessed the rise and fall of so many traders, I’ve felt deeply moved. Having seen so much, certain things have gradually become clear to me; indeed, only three major challenges restrict traders, and overcoming them means success.
The First Challenge: The first step in a trading career.
For beginners, it’s all a blur, accepting whatever they're told. This period is crucial for establishing one’s trading philosophy. Following the right person can double one’s progress, while the wrong association or philosophy can trap them forever. Here, "right" and "wrong" refer not to moral character but to the correctness of the philosophy.
With the right philosophy, success is possible through hard work. With the wrong one, no amount of effort will suffice. There are many successful philosophies and no one-size-fits-all solution, thus I cannot elaborate further.
However, there are common traits among erroneous philosophies. The most seductive for newcomers is the myth of this being a lucrative industry filled with overnight wealth stories.
News like "my friend’s friend made millions in a few days" is rampant, and the media loves to report on such, yet it’s misleading! Trading is, in reality, about seeking long-term, stable profits, requiring solid trading skills without deceit or shortcuts.
The Second: Trading skills and systems.
With the right trading philosophy as a guide, effort can lead to the development of a successful system. However, even when a system has been proven to be profitable time and again, you might find your account balance fluctuating widely, leading to a period of confusion—alternating between overconfidence and self-doubt.
The darkness before the dawn is the most difficult to endure, with hope and disappointment alternating; those who have not experienced it cannot understand the depth of despair each disappointment brings.
It all comes down to perseverance. I've seen many traders at this stage, confident during a job interview, performing well initially but beginning to doubt themselves or even giving up after starting to incur losses. It's safe to say those daring to apply for the job are in this phase.
The system may be mature, but the mindset hasn’t caught up yet. They have yet to understand that 'mountains are just mountains and waters are just waters.' Trading, in its later stages, is all about the mindset. A stable mindset leads to a stable rhythm and, in turn, stable profits. Thus, I appreciate a monotonous, stable life. Enlightenment is key; once achieved, making profits becomes simple, just follow the system.
The Third: Stability afterward.
Upon joining a company or managing significant funds, you'll face pressure mounting like a mountain. Employers have their plans, clients their ideas, none of which may align with yours.
Employers will insist on their plans, clients will guide you based on their misconceptions, especially when facing the probability as low as flipping a coin heads down ten times in a row, you’ll feel the pressure of trading increase by manifold.
Whether or not you can withstand it determines everything: fail, and it’s back to square one; succeed, and you thrive in this industry. Despite rigorous plans and emphasis from the boss, one must keep calm and trade according to the system; with clients calling now and then, you’ve got to let it in one ear and out the other. Many potential traders leave the industry under this pressure, some never recover and switch careers.
The challenges traders face are numerous, such as the difficulty of developing a system and cultivating the right mindset, but they pale in comparison to these three hurdles. Thus, my ideal is to be a free-spirited trader, spending leisure time with my family, undisturbed during busy periods—unfortunately, it's easier said than done to break free from worldly ties!
Trading is a practice that greatly polishes one's temperament. It requires ample patience, a calm mindset, and a long-term perspective.
