Western culture has put the self and thought at the paramount of importance. Mystics such as Sadhguru have rightly pointed out that many Eastern practices of meditation place less importance on the content of thoughts– with the intention of seeking to create some space between the processes of self and experience.
I am not a huge believer in meditation as a means to success– however, it is clear that while we can sometimes direct consciousness to greater or lesser extents: at times, the mind can create its own suffering. Very few people have demonstrated they have the ability to truly overcome their biological programming and then only in narrow ways. As such, consciousness is just as much a process that we passively experience; as much as a directed force.
Many traders start their journals with strong narratives relating to their backgrounds, hopes, and dreams. It is not that this stuff isn’t important in some small way but it is not as important as other factors.
Of course, one can think in the past when one had great success trading. But, that success is always defined in time and space. And, most of the time– there was a great deal of work and other factors that come into that. It may or may not have bearing on the future.
Again, self-taught Sadhguru, points out that the intellect needs accurate information, to express sharpness and clarity. This simple understanding has helped me in my decision making because I know the intellect cannot perform well without information. Markets are notoriously fuzzy. So, when traders, with limited experience (which is all of us) set out to the monumental task of trading with preset goals and fragile plans then results are naturally poor.
If you take most successful traders today who were trading 10 years ago, it is unlikely they are trading exactly the same.
Can one “learn” to trade? Sure, one can learn and forget how to trade many times over! However, it is not advised to do this with more then inconsequential risk on the line.
The point is not just simply about being profitable. No, I have decided that one should trade in a way that could scale into a 7 figure income. Mark Melnick makes this point succinctly clear in his videos.
What I am talking about is not the actual income produced — but the quality of the trades taken and the seriousness of the pursuit. Put it this way, if you are taking 7 figure trades, trades good enough to produce a 7 figure income and doing the work as if you were trading that kind-of-size- do you think it will be easier to be profitable?
I think it must be.
Now, I have already expressed the real number for any trader should be 165k/year which is beyond most traders current incomes.
The point is with the 7 figure goal is to do what is easy. The only way you get to a 7 figure income is to have a good sized edge.
The author is passionate about markets. He has developed top ranked futures strategies. His core focus is (1) applying machine learning and developing systematic strategies, and (2) solving the toughest problems of discretionary trading by applying quantitative tools, machine learning, and performance discipline. You can contact the author at email@example.com.
Please log in again. The login page will open in a new tab. After logging in you can close it and return to this page.