Why Do Some Traders Win and Some Lose?

Trading Leaders

If you have read about the Turtle Traders in the book “The Way of the Turtles” (see book), then you would also agree that it is absolutely possible that any ordinary person can be transformed into a full time trader. The question was “How”.

I started trading the financial market out of curiosity, I wanted to be self-employed but I struggled to find a good business venture in London. So I thought I should pack up and head towards Asia. Who would have known that one month before my flight, I signed up for a Forex trading course in London and stayed on for another full year.

Between attending the course in London and writing this article today, I have met traders who turned pro within 8 months and some who were still struggling after 8 years. Since then, I have moved away from the “How” question, the next question that lingered for awhile was – Why do some Traders Win and Some Lose?

Paradigm Shift

Some traders win and some traders lose. That’s a fact. However, not many people are able to explain why they are. Of course, knowing what I know now, I believe I have found the answer and one way to explain this is by understanding the idea of a paradigm.

Trading ParadigmShiftIf you think about this carefully, traders are just ordinary people who want to make a better living through trading. However, almost everyone looks at the same markets and have identical information of that market. So the only thing that is different is how one trader perceives the information compared to another. Once you have a preconceived idea of the market based on your perception, you act upon it.

Well, to a certain extend, perception is a type of paradigm too – Oxford dictionary defines Paradigm as “A typical example or pattern of something; a pattern or model”.

So here’s my point, if you want to change from a losing trader to become a winning trader, you need to change your perception and that requires a paradigm shift.

Shifting the Paradigm of the Paradigm Shift

I guess that next question that you may ask is How? Before I answer you that, I think some of you might have this voice telling you “That’s easier said than done”, “But it’s difficult” or something along those negative lines. Well, the honest truth is this, making a paradigm shift is as Easy as changing a code (see related article) but if you think it’s difficult, trust me, it will be difficult.

For many, they need to see, hear or feel it before they can believe. That’s fine and I think that’s a good approach. Unfortunately, for some of you, the need to experience it first would unconsciously create a barrier to move forward. Some of you are so worried that you think of the worst before the worst happens. It becomes a chicken and egg situation where one needs to happen before the other but the other must happen first. In the end, it’s just a loop.

However, those traders who have been through coaching with me or those who have experienced it before would almost always go through a shocking phase because of how easy it can be.

So if you truly want to change, I would first invite you to take a step back (see related article) and then think, believe, pretend, act “as if” and assume that making a change is easy. Once you whole heartedly commit to the fact that making a positive paradigm shift is easy, then you are already a leap forward.

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No Allowance for Ignorance

Now that you believe and are aware that making a change is easy, I’m going to share with you something truly harsh but useful and important. And if you are to follow it through, this can be life changing. Even if it’s not, it is about to make a positive paradigm shift in you today. So here goes:

The fact that you have read today’s article, you already know inside you that making changes is possible, easy or both, that means the next thing you need to do is to Take Action.

Imagine this:

One day you were walking on the street and you saw a $20 note on the floor. You saw the money and thought that someone else needs it more than you, and they might pick it up later. So you walked away.

As you walked away, the person behind you picked it up and said “Thank you very much”. To your surprise, that person wears an expensive top and he walked to his luxury car.

That’s an example of NOT taking action even though you are aware of the opportunities around you – and this is the Ignorance that I was referring to. If you don’t take it, someone else would and you can only blame yourself because you decided that they deserve the money and you don’t.  Can you not see how the paradigm governed your results? Can you not see that you decided not to accept the opportunity even though it was right in front of you?

Sadly, many of you are doing exactly that but you forget that there is no allowance for any Ignorance in this world. If you don’t do anything about it, someone else will.

A Winning Trader

Make Trading Decision Now

As you finish this article, you can choose to do nothing (Ignorance) and you will definitely remain the same. Even if you choose to take it slowly and only do it some other day, you are assured that you will only become a winner some other day and not today. Or you can choose to take action today now. It’s your choice and it is the choice that you make today that determines the results of tomorrow.

In fact, that’s exactly the same as making a choice of becoming a winning trader or a losing trader. Most of you reading this now already know what you need to do to move forward. If that’s you, then do it, stop wasting time and start becoming a winner.

And if you didn’t know what to do, you are aware that you can seek help through coaching, books or other products. You have the resources that leads you to the final resource that you need.

Again, all you need to do is decide.

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