I saw Robert Kiyosaki on PBS today. He’s the author of the best-selling book Rich Dad, Poor Dad.
By the way, if you don’t have the book, get it now. It is financial genius!
… and speaking of “genius,” Robert was talking about how EVERYONE IS A GENIUS.
I love how he explained it. He used a play on words, and said that being a genius is about the “Genie-in-us.” Cute, but right on.
You may not be a rocket scientist.
You may not be a brain surgeon.
But you have a NATURAL talent or inclination toward something.
It may not be academic, but you’re a genius, you’re a “natural” at something. Whatever it is … that is magic. That’s your “genie” that can perform miracles. Wishes you make around that natural talent will come true!
Fine, but how does that apply to trading?
In 2 ways:
FIRST: Maybe trading isn’t for you! Seriously consider that thought, because it’s not for everyone. Do you really have the personality to be a great trader (and if you’re not great, you’ll fail).
As a trainer, it’s heresy for me to even raise this issue. But with such a low success rate among traders, it’s a very important question to ask. To become successful will require a lot of work and a lot of changes in yourself.
Do you have another GIFT that is being ignored while you’re trying to become a trader? If so, you’re doing yourself and the world an injustice! Follow your bliss, grow your gifts. That’s where you belong in life.
SECOND: If you decided that you ARE a trader in your heart of hearts, then you still need to find the Genius inside of you.
I’ve taken more trading courses than anyone I know. None of them were bad. I learned something from every one of them. BUT …
… there wasn’t a single course I’ve taken in all these years and all these tens of thousands of dollars spent on education, where I could take the method they taught me, trade it according to their rules, and make money!
Does that mean all those courses were bogus?
You can’t trade someone else’s rules. You must find your own style that fits your personality, risk tolerance and ability to “see” what the markets are doing. We’re all individuals, and trading is not a team sport. It’s a very individual endevor.
- Some people are by nature more comfortable with risk than others.
- Some people have aggressive personalities, and others are more laid-back.
- Some people need to be actively trading or they get distracted and miss trades.
- Some people like to sit and wait until the perfect opportunity arises.
In addition, there’s something to be said about “discovery.”
If you discover a trading rule or nuance yourself, you have a much better feel of that than if you simply try to adopt someone else’s rules.
Ultimately, we each have to find our own way … but the path can be lit by those who have gone before us.