Can anybody give the best answer passionate will make u a better trader or making money will make u a better trader and why? My es day trade is 1 point profit target based on $100K per contract. That is passionate day trade and not about making money. I am looking for the best answer. Hope this thread will help small traders losing money in trading.
Passion, Drive and Open Mindedness --> Learning--> Making proper adjustments--> Steady trading--> Consistent results--> Making Money
+1 agree The passion has to be there to want to start the game, learn the game, persist in the game , and finally survive/adapt in the game . It takes passion to learn a profession for a long time before making a dime. Passion alone doesn't guarantee you will make money but it sure improves your odds. Passion /persistence is basically the combo for success in any business IMO.
I'll tell you what DOESN'T make one a better trader.....repeating the phrase "90% of traders just lose, they just lose!"
Making money is proportional to edge. Making money consistently is a function of strict, disciplined application of edge.
He's already at edge....once you have that then you trading that edge strictly and with discipline is anything BUT gambling. Gambling would be trading without an edge or trading outside of an edges parameters.
What is passionate? Passionate means: Passion gives you that extra edge that will show through in your enthusiasm. It will make you stand out as someone who really loves what heâs doing, not just someone who is doing it for a buck. That enthusiasm combined with the drive to go the distance is what makes passion your secret weapon. Corbett Barr Gambling (Making Money) is: Gambling is, in many peopleâs eyes, the easiest way to obtain large sums of money without having to do any actual work. That temptation, that tantalizing dream of instant wealth is always one pull of the slot machine away or one more hand of poker from happening. Don't forget the losers,there are a lot more losers than winners. Example: Majority of firemen/firewomen enjoy their career out of passion by saving people lives rather than making money. Firemen/women do not get paid handsomely risking their lives to save another. They do it out of passion and not GREED. More than 90% of small traders treat trading as GAMBLING. Their DOM and chart are their slot machine. How can small traders become passionate?
Think that I could not control my self and would become a very greedy trader. Sometimes when I open a manual trade in zulutrade' s platform and is a profitable one, in that time... I want to open 10 more positions!