Becoming One of the Chosen Few
Contrary to popular belief, trading is a craft. Like an artisan who develops a craft over a lifetime, it requires a discipline to be exercised daily. Just to get started, it takes 10 hours of work every day for months and maybe years to become a consistently profitable trader (CPT). Becoming a CPT is like joining an exclusive country club: they do not let everyone in and you must follow all of the rules or else your membership will be terminated. Few are willing to pay the price required to join our club of successful proprietary traders. There are many people who presently do not have the personal skills, which help develop the trading skills, to become a CPT. Or more accurately, many do not offer a good risk/reward to a prop firm that they can develop into a CPT. Possessing certain characteristics shortens your learning curve and improves your chances of success. Simply put, there is often a disconnect between those who believe they can trade and those who actually can.
there are many who mistakenly believe that they can become a CPT without serious personal skill development. These people could change but the risk/reward for a prop firm is not in our favor. And there are also many not getting hired by the big banks who absolutely fit our profile.
We judge our trading performance not by our P&L, but by our trading progress. We work on our game every day
The results of others have no effect on your trading. Trading is about personal skill development, discipline, and controlling your emotions. If the person to your left has developed his trading skills and your skills are not as developed, then naturally your results will be worse. If the person to your right is disciplined and you are not, then your results will be worse. If the trader behind you remains calm during most of the trading day, yet you are easily frustrated, then your trading results will be worse.
trading is an individual sport.
you will make what your skills allow.
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