Do Not Gamble, But Consciously Bet On Yourself

Nowadays, it happens quite often that people ask me what’s day trading like. I usually answer by bringing my personal experience on the table because I believe there is no more honest answer than a real-life example. Typically, I can see great curiosity in the eyes on my partner in the discussion. In fact, they want to understand if this trading career can fit themselves too or not.

The truth is, trading is not for everybody. Don’t get me wrong because I don’t think anyone needs a special innate skill to become successful trader. What’s required is instead a high level of commitment, perseverance and intellectual resource consumption. And those are skills that everyone of us was born with. But in a world where the “get rich quickly” paradigm fools many, there are hidden gems.

Personally, I was stunned by reading one statistic about the mother of all illusions, that is the lottery. In 2016, for the world-famous Powerball, 300 million (yes, you’ve read it right, three hundred million) tickets have been sold. That is almost one ticket per US person. And that’s just one lottery, in United States alone.

Why am I bringing up this subject? Simple, because I believe that only people which have an opposite mindset to the lottery game can win in trading. And given the numbers above, there will be very few left out.

People Want Shortcuts, Take Responsibility Instead

Let me explain this further. Successful people value time as the most important asset at disposal. That’s because they know that only by working hard every day and patiently waiting for the results to show up they will achieve ultimate success. It will come as a natural consequence of a relentless execution of proven techniques rather than an exercise of just the “hoping for the best” motto.

In other words, a lottery ticket buyer (if you’re one of them, please, don’t take it personally) is the living proof that is human nature leaning toward shortcuts instead of taking full responsibility for the pursued actions. And that’s the perfect recipe for disaster.

I was amazed by the fact that among all of us hanging out in Vegas for the Inner Circle webinar, none were attracted by the games going on at the casinos. But in the end, this is just a confirmation of what I’ve just said. Do not gamble but consciously bet on yourself first.

“Forget the lottery. Bet on yourself instead.” – Brian Koslow

See you in chat-room.

Trade safe,

Roberto Barbaro