BarroMetrics Views: A Personal Journey to Gold-Medal Trading; Values (3)

So far we have looked at the values of  honesty, integrity and accountability. The final values I want to consider are commitment, perseverance & resiliency.

Commitment to our vision, and the ability bounce back from setbacks, are absolutely necessary if we are to succeed. Without commitment we shall be unable to get started and without resilience, we won’t be able to keep going when the going gets tough.

Let’s turn to the unique beliefs needed for trading success. I first heard Ruth Barrons Roosevelt ennunciate these. I thought she was spot on when I first them. In the intervening years, I have not changed my mind.

The essential beliefs are:

• Money can be made in the markets
• I can make money from the markets
• I deserve to make money from the markets.

So there you have the values and beliefs that I see as the pre-conditions for trading success. They are a little like a lottery ticket: that fact that you possess the attributes, does not mean you will win the lottery (succeed); but I know that without a ticket (the attributes), you have no chance of winning the lottery (succeeding).

I’ll continue with series next week. Tomorrow I want to consider a stock market and economy that traders are  ignoring;  but one that has the ability to bring the system down around our ears.

Refer this blog post to a friend or colleague…